CO SB085

Increases the county recording surcharge from $1 to $5 per document effective January 1, 2018, with the $1 surcharge expiring December 31, 2017.

County clerks retain $1 of the $5 surcharge for electronic filing system costs and transmit the remaining $4 monthly to the state treasurer for the statewide attainable housing investment fund.

Creates the statewide attainable housing investment fund within the Colorado Housing and Finance Authority to administer programs providing financial assistance to households earning up to 80% of area median income for single-family home financing, purchase, or rehabilitation.

Requires at least 25% of annual fund moneys be expended for direct assistance to eligible households and nonprofit entities or political subdivisions making such loans.

Mandates the authority submit annual reports by June 1 to the governor and legislature detailing fund use, with unexpended funds remaining in the fund rather than reverting to the general fund.