3-2-1 Capitol Connection – March 5, 2025

3 Things to Know

• Homeowner Incentives for Wildfire Mitigation: “Risk Model Use in Property Insurance Policies” (House Bill1182) would provide homeowners personal wildfire risk scores – along with a breakdown of how those scores were determined, what impact the scores have on their premiums, and what actions they or the state should take to mitigate risk. But that’s not all! This bill also requires insurers to inform homeowners what discounts and incentives are available to them should they take steps to reduce wildfire risk. Under this policy, insurers will even have to provide clear timelines for when homeowners will receive their scores and must allow them to appeal their scores – especially after they have taken steps towards mitigation. We’re excited to support this bill as it is a win for transparency, safety, and potential savings!
  
  
• Utility Repayment Program for Energy Upgrades. “Utility On-Bill Repayment Program Financing” (HB 1268) would have certain large public utilities including Xcel offer a program where homeowners could finance energy upgrades and the repayment plan would stay with the property or “the meter.” Because it stays with the property, and not the person, there’s a section in the bill on transfer of property that currently is quite problematic. It explicitly states it cannot be a recordable lien or an encumbrance but requires the seller to give notice to a potential buyer. While the intent is worthwhile to help homeowners make energy upgrades, the transfer of property is riddled with problems. We are working with the Land Title Association of CO (LTAC) and Colorado Bankers Association (CBA) to amend this bill.
  
  
• Requirements for Commercial Property Tax Appeals. “Petitioner Requirements in Certain Property Tax Appeals” (HB 1095) would have forced expensive appraisals and sharing of confidential lease information as part of any commercial property tax appeal. In working with our commercial REALTORS®, we were able to defeat this bill on Monday, March 3rd in committee!

2 Things to Share

• Landowner Immunity in Emergency Events. CAR was an early supporter of “Landowner Immunity for Emergency Access to Property” (HB 1053) which provides landowners with immunity from civil liability when they, in good faith, allow access through their property during emergency situations. There are some developments with a single entry/exit access point that have been impacted by emergencies such as wildfires. It came to light that Colorado didn’t offer “good samaritan” protections to owners if an injury or damage to people or property occurred on the owner’s property during an emergency. It remains entirely the owner’s decision if they want to allow access or not during an emergency. The bill has passed both legislative chambers and is headed to the Governor’s desk for executive action.

• Real Estate Removed from Junk Fees bill. “Protections Against Deceptive Pricing Practices” (HB 1090) makes the failure to disclose the full price of goods, services, or property a deceptive trade practice which includes treble damages and attorney costs not covered by E&O insurance. There are many tertiary costs in real property transfers including insurance, mortgage lending, inspections, title and more that a broker does not control. CAR Government Affairs worked around the clock to remove real property from the bill by aligning it to existing federal law. It gives the ability to demonstrate that any fees, costs, or amounts charged in addition to the total price are not real estate broker commissions or fees. Landlords are not required to include the actual cost of tenant utilities in the total price disclosure.

1 Thing to Do

Register and Attend Colorado Connections. The deadline to register for this NEW 2-day jam-packed event is next week! It will deliver networking, education, and excitement your business needs. Colorado Connections combines up to 12 hours of continuing education, dynamic speakers with an emphasis on growth, networking, and forums to engage with like-minded professionals on industry challenges. This event replaces our former Spring Summit so register today: https://tinyurl.com/CARconnections

Your Full Conference registration includes CE Courses, Opening Reception, Lunch, Expo Hall, Coffee/Snacks and sessions like:

• 10 Things with Scott Peterson
• Opening Keynote Speaker
• Strategic Think Tank Forum

RPAC Reception and more!

NAR

2025 REALTORS® Legislative Meetings

The REALTORS® Legislative Meetings in Washington, D.C., bring together thousands of members to conduct the business of NAR and unite for a common cause—advancing the real estate profession through powerful, impactful policy advocacy. Registration begins March 6th at 12pm CT.

Appeals Court Upholds NAR’s Victory in REX Antitrust Lawsuit

A federal appeals court on Monday upheld a ruling to dismiss antitrust claims against the National Association of REALTORS® and Zillow stemming from a lawsuit filed by the Real Estate Exchange Inc. (REX) in March 2021.

FinCEN Update Regarding a New Interim Rule & Lack of Enforcement

The Financial Crimes Enforcement Network (FinCEN) recently announced that it will not issue any fines, penalties, or enforcement actions against reporting companies and owners for failure to file any Beneficial Ownership Information (BOI) reports by March 21, 2025.