HB 23-1253 Summary

• Creates a task force on corporate housing ownership within the State Demography Office in the Department of Local Affairs to study corporate acquisition and ownership of residential property in Colorado since January 1, 2008.

• Task force composition includes 13 members appointed by legislative leaders and the Department of Local Affairs, with requirements for diversity across ethnicity, geography (urban/rural/resort), and disability representation.

• Task force must examine impacts of corporate ownership including vacancy rates, housing availability, displacement, property prices, and foreclosure rates, with a focus on single-family homes, condominiums, and townhomes.

• Task force must submit a comprehensive report to the Transportation, Housing, and Local Government Committee of the House and the Local Government and Housing Committee of the Senate by October 1, 2025, including legislative recommendations to mitigate negative impacts.

• Appropriates $122,549 to the Department of Local Affairs for 0.4 FTE and $1,416 to the legislative department for implementation; task force is repealed effective September 1, 2027.