CO HB1115

Repeals part 3 of article 12 of title 38 of Colorado Revised Statutes, which had prohibited counties and municipalities from enacting rent control ordinances on private residential property or housing units.

Allows local governments to adopt rent control ordinances that must be uniformly applied among similarly situated renters and properties, with annual rent increase limits set at no less than the Consumer Price Index plus 3 percentage points plus reasonable renovation costs.

Exempts properties from rent control for 15 years from the date of first certificate of occupancy, except mobile homes and mobile home parks which may be regulated immediately.

Exempts housing units provided by nonprofit organizations and regulated by federal fair market rent guidelines or other federal/state programs that restrict rents while stabilized under applicable federal guidelines.

Takes effect 90 days after final adjournment of the general assembly unless a referendum petition is filed, in which case it requires voter approval at the November 2024 general election.