The General Assembly opened yesterday, and of the 95 bills introduced, four of them pertain to the real estate market.
Here’s the rundown:
House Bill 11-1022, sponsored by Rep. Ray Scott, R-Grand Junction and Sen. John Morse, D-Colorado Springs. This bill would allow a mortgage loan originator to engage in three seller-financed transactions a year without going through the licensure process. These transactions are not common, but the legislation should reduce the burden on sellers in the farm and ranch markets. Read more about this in my column tomorrow.
House Bill 11-1023, sponsored by Rep. Mark Ferrandino, D-Denver. The bill would extend the existing foreclosure deferment program until 2016. The program is currently set to expire this year.
House Bill 11-1042, sponsored by Rep. Claire Levy, D-Boulder and Sen. Jeanne Nicholson, D-Granby. When residential improvements on a property are destroyed or demolished, this would keep the residential land classification in place for the next two property tax years.
House Bill 11-1047, sponsored by Rep. Matt Jones, D-Louisville and Sen. Gail Schwartz, D-Snowmass Village. Expands the scope of the “New Energy Jobs Creation Act of 2010″ to include commercial buildings and those used by nonprofits. This would make it easier for building owners to obtain financing for renewable energy improvements.