June 08, 2011
Ski / Snowboard Sites
2011 Legislative Session Comes to a Close
The 2011 Legislative Session came to a close this week. During those 120 days, 595 bills were introduced. CAR tracked 41 of them and took a position on 27.
This was a very successful session for REALTORS. CAR succeeded in the passage of several bills that are beneficial to Colorado's housing industry. CAR also played a critical role in defeating several bills that had potentially negative effects on Colorado home buyers and REALTORS, as well as the housing market. Two of our biggest victories are the passage of HB 1022 Seller Financing o f Real Property and SB 234 Residential Real Property Transfer Fee Covenants.
HB 1022 Seller Financing of Real Property by Rep. Ray Scott (R-Grand Junction) and Sen. John Morse (D-Colorado Springs) was signed into law on March 1, 2011. The new law, proposed by CAR, allows a seller up to three transactions in any twelve month period before they are required to be licensed as a mortgage loan originator.
SB 234 Residential Real Property Transfer Fee Covenants by Cheri Jahn (D-Wheatridge) and Rep. Tom Massey (R-Poncha Springs) was sent to the Governor's desk on May 6, 2011. Senate Bill 234 bans the enforcement of non-exempted private transfer fee covenants recorded after the effective date of the bill and requires certain non-exempted covenants in place prior to enactment be recorded