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CO SB006

Bill

Status

Failed

2/5/2018

Primary Sponsor

Rachel Zenzinger

Click for details

Origin

Senate

2018 Regular Session

AI Summary

  • Allows counties to voluntarily impose an increased surcharge of $5 per real estate document recorded beginning January 1, 2019, in addition to the existing $1 surcharge

  • County clerks retain $1 of the $5 increased surcharge to cover electronic or core filing system costs; the remaining $4 is transmitted 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 housing assistance programs

  • Requires that at least 25% of annual fund revenue support programs providing financial assistance to persons with household incomes up to 80% of area median income to finance, purchase, or rehabilitate single-family homes, and to nonprofits and political subdivisions making such loans

  • Requires the Colorado Housing and Finance Authority to submit annual reports by June 1 detailing fund usage during the prior calendar year to the governor and senate and house finance committees

Legislative Description

Recording Fee To Fund Attainable Housing

Last Action

Senate Committee on State, Veterans, & Military Affairs Postpone Indefinitely

2/5/2018

Committee Referrals

State, Veterans, & Military Affairs1/10/2018

Full Bill Text

No bill text available