Capitol Connection – April 1, 2024
Legislative Advocacy This Week at the Capitol
We are entering the second week of the budget process; the budget is scheduled to pass the House on Monday, then head its way to the Senate to go through the committee process again and floor, and ultimately makes its way to the Governor’s desk. The big items lawmakers are focusing on in the budget are K-12 education, higher education and healthcare. Housing policy remains a big priority for the legislature and Governor’s office; there are still multiple CAR priority bills waiting to be heard in committees or on the floor. After the budget passes, legislators sprint to the finish line to get the rest of their bills moving before adjournment on May 8th. CAR staff will continue to work diligently to represent our members at the Capitol while the legislature is still in session.
Property Tax Commission Update
The commission created in the 2023 special session has approved and released its property tax recommendations to the legislature. Their recommendations include residential assessment rate smoothing based on a cycle average, reducing the non-residential assessment rate in phases, and creating studies for long-term tax solutions. The most notable recommendation is extending residential property valuation and assessment rate reductions for 2024 from the previous tax year. A more detailed final report will be provided to the Governor’s office and Legislature no later than December 31, 2024. CAR advocated for a member to be appointed to the commission and we extend our thanks to REALTOR® Sean Dougherty who served being the voice for the real estate industry.
CAR is tracking the numerous ballot measures regarding property taxes on the 2024 ballot as we get closer to Election Day.
Bill Updates
(Monitor) HB-1379 Regulate Dredge & Fill Activities in State Waters
Sponsors: Rep. McCluskie, Rep. McCormick, and Sen. Roberts
The Supreme Court ruling in Sackett vs. EPA narrowed the definition of “waters of the United States” and left a large portion of the nation’s water previously protected by the Clean Water Act, vulnerable. The ruling became effective immediately in Colorado and protections for intermittent, seasonal, and subsurface waters were lifted. House Bill 1379 creates a permitting program for the discharge of dredged or fill material ensuring continuity of the permitting program that existed pre-Sackett at the state level of government. The bill aims to reduce regulatory uncertainty, protect Colorado’s water, and keep infrastructure projects in progress going without interruption until the Water Quality Control Commission develops final rules by May 31, 2025. SB 127 is a similar bill and was introduced earlier in the session. It has different government entities and parameters from HB 1379.
CAR monitors legislation that can impact the housing sector. Water is an integral piece of housing development because its costs contribute significantly to the price of new construction.
RPAC
RPAC Live Auction at Spring Summit
Join us NEXT Tuesday, April 9th from 4:15pm – 6:15pm for our annual RPAC cocktail reception and Live Auction! Don’t miss this opportunity to bid on some great trips, while supporting RPAC. Purchase your reception ticket HERE before it’s sold out! Major Investors will receive a drink ticket to the reception.
INVEST IN RPAC
Have you made your 2024 RPAC investment? RPAC is hard at work every day protecting your interests at the Capitol. We are actively monitoring legislation that directly affects your business. Invest today to help protect homeownership and private property rights.
RPAC wants to visit YOU!
Having an event at your local association or broker office? We would love the opportunity to come speak with you and your team about the impact RPAC has on your business. Reach out to Kerrianne, kbrenzel@coloradorealtors.com to schedule a time for RPAC to come speak!
RPMA
“Don’t Miss Out on the Action – Sign up for REALTOR® Party Mobile Alerts”
Text REALTORS to 30644
REALTOR® Party Mobile Alerts offers REALTOR® Associations and REALTORS® a way to stay connected directly from their cell phone or tablet. When a national or state legislative call for action is launched, subscribers get a short text message containing information to take action. Stay in the “know” as housing legislation heats up at the state capitol and nationally this year.
*If you sign up for RPMA and receive a Call For Action, taking action does NOT subscribe your information to a listserv.* RPMA and CFA are strictly to inform members of legislation that the National Association of REALTORS® or Colorado Association of REALTORS® needs grassroots engagement.
NAR / ICYMI
Pending Home Sales Rose 1.6% in February
“While modest sales growth might not stir excitement, it shows slow and steady progress from the lows of late last year,” said NAR Chief Economist Lawrence Yun. “Ongoing job gains are clearly increasing demand along with more inventory.”
Help Agents Explain the Importance of Written Buyer Agreements
Ensuring agents understand what’s in the agreement is the first step in helping agents realize the importance of using them. The next step is to quell any fears they have in presenting the written agreement to consumers by making sure they’re comfortable explaining the terms of the agreement.
The REALTOR® to REALTOR® Series: Why Take Fair Housing Training If You Know the Law?
Many real estate professionals may think all they need to know about fair housing is what the law requires of them