Capitol Connection – February 23, 2018
Senate Bill 18-109: Authorize Audio-Video Communication Notarial Acts
SB18-109, sponsored by Senator Gardner (R-Colorado Springs), Representative Garnett (D-Denver), and Representative Wist (R-Centennial) allows notaries public to perform notarial acts using audio-visual communication. The process is called remote notarization and it’s similar to a skype or face-time type of interaction where there is audio and video communication between the notary and the person having a document notarized. Under current regulations, an individual must physically appear before a notary public to have a document notarized. This bill would allow notaries to be able to perform a remote notarization.
SB18-109 establishes several requirements a notary must comply with, such as rules and standards about the necessary evidence to identify the individual seeking remote notarization and how that process of identification should take place in addition to keeping an audio-video recording of the notarization for at least 10 years. The legislation also prohibits using the process for certain types of documents such as election issue or candidate petitions and some of the wills and trust documents common in probate proceedings.
The Colorado Association of REALTORS® (CAR) Legislative Policy Committee (LPC) opposes this legislation in its current form. Over the summer, a series of stakeholder meetings regarding remote notarization legislation that included various industry participation from the Secretary of State’s Office, The Colorado Bar Association, the Colorado Mortgage Lenders, CAR, and several others including one of the major proprietors of this technology occurred. As introduced, SB18-109 does not reflect the consensus stakeholder input from these meetings.
Some concerns about the current draft include potentially problematic bill language that would allow organizations providing the notarization to collect and sell that data collected during the identification process. This could lead to data security problems; especially this legislative session when several bills aimed at protecting data privacy and personal identifying information for consumers are under review by the legislature. CAR will be tracking this legislation and update our members as it goes through the process. At this time it has not been heard in a legislative committee yet.
Senate Bill 18-007: Affordable Housing Tax Credit
SB18-007, sponsored by Speaker Duran (D- Denver), Senator Guzman (D-Denver), Senator Tate (R-Centennial), and Representative J. Becker (R-Fort Morgan), renames the Low Income Housing Tax Credit (LIHTC) to the Colorado Affordable Housing Tax Credit and extends the program through 2024, which was originally set to expire in 2019.
CAR’s LPC supports this legislation and as affordable housing advocates, CAR has historically supported LIHTC. Since 2015, this program has supported the development of over 4,000 affordable rental housing units and generated over $463 million in private sector equity to support Colorado’s affordable housing needs. On Thursday, SB18-007 passed on third reading in the Senate and will now move on to the House of Representatives for their consideration.
Upcoming Events: NAR Midyear Legislative Meetings (May 14-19, 2018)
The REALTORS® Legislative Meetings & Trade Expo is where NAR members take an active role to advance the real estate industry, public policy, and the association. REALTORS® come to Washington, DC, for special issues forums, committee meetings, legislative activities, and the industry trade show. Registration is now open. Click here for more information.
This year, NAR has held the REALTOR® Legislative Meetings schedule from 2:00PM to 4:30PM on Wednesday, May 16th to allow time for Capitol Hill Visits. For Colorado, we have 9 Members of Congress visits to complete on Capitol Hill. While we will try to schedule as many meetings as possible during this NAR designated time frame, we will not be able to fit all of these meetings into this window. As we approach May, CAR Staff will be in contact with attendees regarding our hill visits meeting schedule for your constituent meetings with your Members of Congress.
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Invest in RPAC
The purpose of RPAC is to support candidates that support REALTORS®. Our goal is to elect pro-REALTOR® candidates at the local, state, and federal levels – candidates that share our support for homeownership, protect property rights, and who will listen to our concerns. Investing in RPAC is one of the easiest things you can do to protect your business. Our goal in 2018 is to raise $630,000 to continue to support Colorado’s REALTOR® champions and ensure we achieve the policy outcomes necessary to protect property rights. Click here to invest today!
Sign up for REALTOR® Party Mobile Alerts
More than 50,000 REALTORS® from across the country have already signed up for REALTOR® Party Mobile Alerts – have you? Text CO REALTORS to 30644 to stay up to date on REALTOR® issues! You’ll be among the first to know about NAR Calls for Action and more! Click here for more information.
Colorado Project Wildfire
Developed by the Colorado Association of REALTORS®, Project Wildfire is designed to help reduce the destruction of land, property, and lives. Working in partnership with other like-minded fire prevention organizations across the state, local REALTOR® associations are bringing education and awareness, as well as access to resources, directly to residents in their local communities. To learn more about Colorado Project Wildfire, click here.