HB 1110 Amended to Exclude HOAs
As we fully described in our January 21, 2011 blog entry, House Bill 1110 amends the Colorado Revised Nonprofit Corporation Act to apply certain governance provisions of CCIOA to “Residential Nonprofit Corporations.” While it was clear that the intent of the legislation was never to include homeowner associations within the definition of Residential Nonprofit Corporation, the broad definition in the original version of the bill did capture associations.
Today, with the support of bill sponsor Representative Cindy Acree, HB 1110 was amended by the House Committee on Economic and Business Development to specifically exclude homeowner associations and other entities from the definition of Residential Nonprofit Corporation. The bill now more clearly applies to independent senior living facilities that are organized as nonprofit corporations.
HB 1110 was reported out of the House Committee on Economic and Business Development with a favorable recommendation to the full House for consideration. We will continue to track HB 1110 to ensure that associations remain excluded as the legislation proceeds through the legislative process.