CO SB091

Reduces the maximum statutory limitation period for construction defect actions against architects, contractors, builders, engineers, and inspectors from 6 years to 5 years after substantial completion of improvements to single-family detached residential real property.

Maintains the existing 6-year limitation period for all other types of real property improvements.

Allows actions arising during the fourth or fifth year after substantial completion of single-family residential improvements to be brought within one year after the cause of action arises.

Takes effect August 5, 2015, unless a referendum petition is filed, in which case it requires voter approval at the November 2016 general election.

Applies to causes of action arising on or after the effective date of the act.