As expected, House Bill HB 1134 (HB 1134) has cleared the Senate on a 20 to 15 party line vote. HB 1134 is the bill that will study the need for expanded regulatory authority for the HOA Information Officer and the HOA Information and Resource Center. Since the bill was not amended in the Senate, the next stop for the bill will be Governor Hickenlooper’s desk where we expect him to sign HB 1134 into law.
HB 1134 as originally introduced broadly expanded the powers of the HOA Information Officer and HOA Information and Resource Center which are both housed within the Colorado Division of Real Estate. The bill also requires that all HOAs, including pre-CCIOA communities, must register with the Division of Real Estate and the registration process is simplified under the bill.
Instead of proceeding with the broad expansion of power for the HOA Information Officer and HOA Information and Resource Center, the bill was overhauled to study the HOA regulatory models in Nevada, Virginia and Florida. In particular, the study will assess options, costs and the need for the Division of Real Estate to:
● offer to mediate HOA complaints;
● mandate the mediation of complaints;
● refer disputes to alternative dispute resolution services;
● provide owners with an expedited and inexpensive administrative hearing process specific to HOA disputes;
● monitor and review HOA procedures and election-related disputes;
● report alleged election-related misconduct to the Director of the Division of Real Estate;
● when requested, appoint an election monitor to conduct HOA elections;
● provide regulatory oversight over declarant-controlled boards to ensure they are complying with their fiduciary duty to the association and comply with the requirements in CCIOA relating to transition; and
● provide regulatory oversight to protect executive boards, directors, homeowners and residents from threats or defamatory conduct arising in HOA matters.
Keep your eye on this blog for further updates on HB 1134!