CO SCR004

Removes the constitutional prohibition on real estate transfer taxes and imposes a new transfer tax of 0.1% on real property deed recordings, effective January 1, 2018.

County clerks collect the tax from property purchasers at time of recording, retain 5% as a fee, and remit the balance quarterly to the state treasurer for deposit into a state affordable housing trust fund.

Exempts transfers between spouses or marital partners and correction deeds from the tax; defines "affordable housing" as housing for households earning 60% or less of area median income.

Requires the Colorado Housing and Finance Authority to administer the fund and expend moneys for construction, maintenance, and rehabilitation of affordable housing, plus grants and loans to enable cost-burdened households to purchase or repair affordable housing.

Designates voter approval at the November 2016 general election as a voter-approved revenue change allowing state spending above the fiscal year limitation, with restrictions preventing the general assembly from limiting the tax or redirecting funds away from affordable housing.