CO HB1272

Creates a voluntary "Multifamily Construction Incentive Program" starting January 1, 2026, allowing builders of attached housing (2+ units) to participate by providing warranties (1 year workmanship, 2 years plumbing/electrical, 6 years structural) and completing third-party inspections

Requires claimants filing construction defect lawsuits against architects or engineers under the program to submit a certificate of review demonstrating professional negligence, with claims limited to actual damages like property damage, bodily injury, or unreasonable safety risks

Reduces the statute of limitations for construction defect claims under the program to 6 years after substantial completion, and requires claimants to pursue warranty remedies and mitigate damages before filing suit

Increases the HOA vote threshold required to initiate construction defect litigation from a simple majority to 65% of unit owners, and requires net settlement proceeds be used first to repair the defects

Expands fast-track approval processes (90-day maximum) to include for-sale multifamily condominium projects for developments with 50% or more affordable housing units