House Bill 15-1343 ("HB 1343") has just been introduced in the Colorado House of Representative to clean-up and improve the manager licensure law which is currently on the books. Given the bipartisan nature of this bill, there is plenty of time left in the legislative session for this bill to proceed through the process.
Key Republicans and Democrats have signed on as co-prime sponsors in the House and Senate. In the House, the co-prime sponsors are Representative Angela Williams (Democrat and Chair of the House Business Affairs and Labor Committee) and Representative Dan Thurlow (a freshman Republican who serves on the Business Committee). In the Senate, the co-prime sponsors are Senator David Balmer (Republican and Chair of the Senate Business, Labor & Technology Committee) and Democratic Senator Nancy Todd. The bill has been assigned to the House Business Committee and we expect that a hearing will be held on the bill as early as next week.
Here is synopsis of the key provisions of HB 1343:
1. The bill more clearly defines who is classified as a community association manager who must be licensed and who is exempt from the licensure requirements;
2. The bill establishes an apprentice license and related requirements;
3. The bill provides that management company CEOs are not required to be licensed and more clearly establishes the "designated manager" required for management companies;
4. The bill clarifies that individuals holding the CMCA credential, AMS designation, PCAM designation or other credential approved by the Director of the Division of Real Estate need only take the Colorado law portion of the licensure examination;
5. The bill provides that for community association managers who have not passed both sections of the licensure exam by July 1, 2015, the Director of the Division of Real Estate has the authority to grant those managers a provisional license through December 31, 2015; and
6. Specifies that the funds used for implementation of the licensure program will be maintained in the Division of Real Estate cash fund.
Stay tuned for important information as this bipartisan bill proceeds through the legislative process!