Colorado Association of Realtors: Legislative Update

SCR-4 Affordable Housing Transfer Tax: This concurrent resolution deletes the prohibition in the state constitution on new or increased transfer tax rates on real property. LPC Position – Oppose. The resolution specifies that its approval by the registered electors of the state voting on the ballot issue at the general election held in November 2016 constitutes a voter-approved revenue change to allow the retention and expenditure of state revenues in excess of the limitation on state fiscal year spending.

Note: CAR’s homeownership opportunity bill package, which will include a construction defects bill and the first-time homeowner savings account bill will be introduced next week.

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