Colorado Association of REALTORS: Legislative Update

SB 156 “Homeowners’ Association Construction Defects Lawsuit Approval Timelines” sponsored by Senator Owen Hill and Representatives Lori Saine (Dacono) and Cole Wist. Support. Status – Not Calendared.  This bill requires an HOA to obtain written consent from a majority of homeowners in the association, disclose projected costs, duration and financial impact of the claim, and requires mediation or arbitration by a neutral third party.

SB-038 “Registration Home Inspectors” sponsored by Senator Nancy Todd. Position – Support. Status – Postponed indefinitely. CAR positioned SB 17-038 as a consumer protection bill that addressed requirements for professionals wishing to undertake the important responsibility of home inspection without creating a burdensome barrier to entry for new businesses. This bill required a person to register with the Department of Regulatory Agencies, pay a registration fee, show proof of liability insurance and a surety bond and submit fingerprints for a criminal background check. The bill passed out of the State, Veterans and Military Affairs Committee but was killed by the Senate Finance Committee on Feb. 9.

Two bills opposed by CAR were sent to the Senate’s “kill” committee: State, Veteran, and Military Affairs, where they were postponed indefinitely: SB-85 “Increase Documentary Fee & Fund Attainable Housing and SB-86 “Authorize Local Governments Inclusionary Housing Programs.”

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