HB 1134, as approved by the House on a 36 to 25 vote, will study the need for a broad expansion of power for the HOA Information Officer and HOA Information and Resource Center. The bill will also simplify the registration process for associations with the Division of Real Estate and requires that all HOAs – including pre-CCIOA communities – must register with the Division.
HB 1276, as approved by the House on a 45 to 16 vote, provides that HOAs and 3rd parties who have purchased debt from associations must provide homeowners with a one time opportunity to enter into a payment plan of at least 6 months to satisfy their delinquency before taking other action to collect the debt. In addition, the bill requires at least what would equal 6 months of past due assessments prior to an association or 3rd party foreclosing on the association’s lien.
HB 1134 and HB 1276 are both expected to proceed quickly through the Senate and be signed into law by Governor Hickenlooper.