HB 1373 Senior and Disabled Veteran Property Tax Exemption LPC voted to SUPPORT HB 14-1373, Concerning individuals who may claim the property tax exemption for qualifying seniors and disabled veterans. This bill modifies the state's Homestead Exemption to extend its benefits to certain individuals who are not eligible under current law. Specifically, the bill permits the following owners of residential property...
Five Colorado REALTORS® will be inducted into the NAR RPAC Hall of Fame in May during the 2014 REALTOR® Party Convention and Trade Expo. They will be honored for their commitment to RPAC and their investment of over $25,000 during their career as REALTORS®. Kit Cowperthwaite A former lawyer, Kit left a long-time practice in 1993 to begin a full-time career as a REALTOR®. He quickly became involved, serving...
Efforts to simplify the nation’s tax code sounds like a simple enough idea. It sounds like good news until you read through Michigan Congressman Dave Camp’s Tax Plan and see that the proposed ideas will hit homeowners the hardest. The proposals behind the Tax Reform Act of 2014 promises to provide a big financial blow to first-time home buyers, homeowners who have seen large gains in...
HB 1136 Signed by the Governor CAR initiated HB 14-1136, which effectively provides a state licensing agency, such as the Real Estate Commission, the authority to approve education programs from providers of CE toward its licensees without an additional layer of approval from the Department of Higher Education. The legislation also removes the restriction of membership among trade associations offering education...
Construction Defects Legislation The LPC met Wednesday and thoroughly discussed construction defects draft legislation before deciding to SUPPORT the draft. CAR will also join the coalition Homeownership Opportunity Alliance (HOA), a consortium of affordable housing, business, real estate and local government representatives; formed to help meet the demands of home buyers, increasing the supply of affordable housing, promoting the repair of...
HB 1254 Regarding HOA Fees, Including Transfer Fees, Passes Its Final Vote CAR supported HB14-1254, Concerning a requirement to disclose fees charged to a unit owners’ association by a community association manager, passed its final hurdle as the House concurred with the Senate’s amendments and voted to repass HB-1254. The bill requires a licensed community association manager who provides services for...
Community Association Manager Licensing Proposed Rules for Review and Comment As prescribed by the new HOA Manager Licensing Bill, HB13-1277, the Colorado Division of Real Estate has developed proposed rules for the licensing of community association managers. Currently, the Division of Real Estate is collecting comments from the public and industry groups on the proposed rules. To provide comment on the proposed community association...
HB 1136 Passes the Senate on Third Reading CAR sponsored HB14-1136, Concerning exempting a continuing professional education program that is approved by a state professional licensing board from regulation by the division of private occupational schools in the department of higher education, passed third reading in the Senate and is waiting for the Governor’s signature. CAR is running this piece of...
Colorado Budget Forecast The quarterly economic forecast was released Tuesday. CAR is tracking 11 bills that have been stalled in Appropriations waiting for the release of this forecast. While this report is showing some growth, not every tax incentive bill that has been introduced in the Legislature will have funding. It is still unclear how the Legislature will prioritize these bills;...
HB 1311 Job Creation and Main Street Revitalization Act LPC voted to support HB14-1311, Concerning the credit against the state income tax for the costs incurred in connection with the preservation of historic structures, this week, which was introduced in the House and assigned to the Finance Committee. The bill establishes two eligibility pools for the commercial tax credit, one pool...