Colorado Association of REALTORS | Capitol Connection: January 18, 2019
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Capitol Connection: January 18, 2019

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Jan 18 2019

Capitol Connection: January 18, 2019

House Bill 19-1075: Tax Credit Employer-assisted Housing Pilot Program

 

HB19-1075, sponsored by Representative James Wilson (R-Salida), creates a pilot program to increase employer-assisted housing projects in rural areas of the state from 2019 to 2023 tax years. It creates a state income tax credit to any taxpayer that donates to a state housing authority, Colorado and Housing Finance Authority (CHFA), a housing authority operated by a local municipality or a nonprofit organization who focuses on constructing affordable housing for populations whose adjusted income is less than 120 percent of the median area income (AMI). The amount of the credit allowed by the bill is 20 percent of the approved donation amount. The total amount of the credit that can be awarded to any one taxpayer is limited to $400 in any one income tax year. CAR’s Legislative Policy Committee (LPC) supports this legislation.

 

CAR believes employers have a unique opportunity to make a major impact in the state’s effort to address affordable housing. Identifying innovative ways to increase the state’s housing supply and opening the doors to homeownership is a statewide concern. Together, we can find a meaningful solution–HB19-1075 is a first step to providing affordable housing options to Colorado’s workforce in the rural areas of the state. This bill will be heard before the House Finance Committee on January 31st.

 

House Bill 19-1098: Deeds to Convey Real Property

 

HB19-1098, sponsored by Representative Matt Gray (D-Broomfield), authorizes a title company to prepare a deed using one of the forms of statutory deed. Currently, only a licensed real estate broker is authorized to prepare a deed; however, the broker can delegate this limited authority to prepare the deed to a title company which then completes the deed under the direction and review of the broker. Title companies and real estate brokers agree that title companies should be able to prepare deeds directly. (CAR) has worked with industry stakeholders to improve the deeds contract process and protect all parties involved in the real estate transaction. CAR’s Legislative Policy Committee (LPC) supports this legislation.

 

If passed, this bill will maintain a clear public record, avoid the unauthorized use of the title documents using pre-determined Statutory Exceptions to warranties and harmonize the need to limit a seller’s warranties and adequately protect a buyer from unknown title defects. The proposed deed structure is good public policy because it fairly and reasonably balances the risks between a seller, a buyer, and the title company. The title insurance company can minimize the risk by performing a reasonable title search to be sure that title is clear. This bill was introduced on January 14th and is scheduled to be heard before the House Business Affairs and Labor Committee on January 29th.

 

House Bill 19-1006: Wildfire Mitigation Wildland-urban Interface Areas

 

HB19-1006, sponsored by Representative Barbara McLachlan (D-Durango), Representative Terri Carver (R-Colorado Springs) and Senator Rhonda Fields (D-Aurora), creates a state grant program allowing by the Colorado State Forest Service to fund proactive forest management fuel reduction projects to reduce the impacts of wildfires to life, property and critical infrastructure. This bill resulted from the work of the interim Wildfire Matters Review Committee which convened over the summer months. CAR’s Legislative Policy Committee (LPC) supports this legislation.

 

To be eligible to receive a grant, the applicant must be an association of homeowners, collective group of landowners with at least 20-acres of adjoining land or new planned housing development that is or will be covered by a homeowners’ association and consists of at least five distinct properties whose real property is located within a land area that is covered by a community wildfire protection plan. If this bill passes, the Colorado State Forest Service would be required to report to the General Assembly annually on the number, location and benefits of all projects that grants have been awarded to. This bill was introduced on January 4th and is assigned to the House Rural Affairs and Agriculture Committee. CAR actively follows wildfire legislation under the charge with Colorado Project Wildfire.

 

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.

 

REALTOR® Day at the Capitol: February 6

 

Don’t miss your chance to learn about and discuss important policy issues affecting the real estate industry this upcoming year, as well as hear from and network with your legislators. The REALTOR® Day at the Capitol luncheon will feature Chris Brown, the Director of Policy and Research with the Common Sense Policy Roundtable (CSPR).  Mr. Brown leads the research efforts of CSPR and the REMI Partners to provide insightful, accurate and actionable information on the implications of public policy issues throughout the state of Colorado. Click here to learn more and register!

 

Invest in RPAC

 

The purpose of RPAC is to support candidates that support REALTOR® issues. 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 raise funds 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 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.

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