HB 17-1363 Summary

• Exempts residential property owners from title insurance and notice requirements under the Colorado New Energy Improvement District program if they are not seeking to subordinate existing mortgage liens.

• Removes the requirement for applicants to submit a commitment of title insurance within thirty days before application submission for properties where mortgage subordination is not sought.

• Eliminates notice, objection, and appeal procedures specified in sections 32-20-106(3)(a)(I), (3)(a)(II), (3)(b), and (3)(c) for residential properties not seeking lien subordination.

• Applies to applications filed on or after the bill's effective date of August 9, 2017, subject to a ninety-day period following final adjournment of the general assembly.

• Was subject to potential referendum petition and voter approval in November 2018 if challenged within the statutory period.