Capitol Connection: May 2, 2014
Construction Defects Legislation Introduced
SB14-220, Concerning prerequisites to the authority of a unit owners’ association to pursue resolution of disputes involving construction defects, was introduced on Wednesday night. The bill has been assigned to the Senate State, Veterans, and Military Affairs Committee, as well as the Senate Judiciary Committee. We are thankful to those of you who have submitted testimonials so far, and those of you that contacted your legislators to encourage them to introduce the bill – your efforts have not gone unnoticed. For this bill to get through the process, it will need to move quickly, as the Legislature adjourns Wednesday, May 7th. We will update you with the progress in our next Capitol Connection.
Two companion bills, SBs 216 and 219 were also introduced Wednesday. SB-216 attempted to address the high cost of insurance for developers to build affordable condo product, SB-219 would have studied the construction defect and condo shortage issue further. Both today died in the Senate.
Real Estate Appraisers’ Regulatory Reauthorization Bill Passes
SB-117, Concerning the reauthorization of the regulation of real estate appraisers by the board of real estate appraisers, has passed both chambers of the legislature and is headed to the Governor for his signature. SB-117 continues the regulation of real estate appraisers by the Board of Real Estate Appraisers in the Department of Regulatory Agencies (DORA) until September 1, 2022, and implements the recommendations in the department’s 2012 sunset review of the board.
CAR supported SB-117 simply because Colorado must have a regulatory and licensing regime for appraisers. If real estate appraisers cease to be licensed and regulated, Colorado consumers will be denied access to federally-related mortgage loans. Existing FHA mortgage loans on Colorado properties would also cease to be insured absent reauthorization. Without this legislation, we could have experienced dire consequences in our mortgage markets. CAR is pleased to see the legislature recognized these potential ramifications and passed SB-117.
Join NAR’s First Ever TWITTER Call for Action!
NAR has launched its first Twitter CFA asking members to tweet their Senators about patent reform. Get in on the action now, and tweet your Senators to ask them to help put a curb on patent trolls. http://www2.realtoractioncenter.com/site/PageNavigator/rac_action.html It’s easy and quick, and you can make your voice heard in 140 characters!
Register Now for REALTOR® Party Convention
NAR’s Midyear Meetings have been renamed the “REALTOR® Party Convention and Trade Expo”. Registration—which is free for members—is now open for the REALTOR® Party Convention & Trade Expo May 12-17, 2014, in Washington, D.C. For registration or more details, click here.
GRAB THE APP! Download the REALTOR® Action Center Mobile App
The REALTOR® Action Center mobile app is now available for download for the iPhone and DROID. Simply search for NAR Action Center in your respective app markets. This app is designed to help members Vote, Act and Invest on the go. It will help you increase your state and local Federal Call for Action participation rates, allow members a quick and efficient way to invest in RPAC, and provide you a way to track your REALTOR® Party activities and so much more.
