Last week, the negotiations for a construction defects reform package fell apart, making it extremely unlikely that Colorado would see any state action on the issue this year – the fourth time such attempts at legislation have failed. Immediately after that failure, Senate Bill 213 was introduced, which would establish a ten-person study group appointed by State leaders. One of their tasks would be to make recommendations on statutory changes to the current legislation that might foster an increase in condominium construction starts, which continue to stagnate. Another task would be to recommend a pilot program within the judicial department for managing construction-defect claims. The bill has bipartisan support, with the Senate passing the bill yesterday, so it’s headed to the House. While not the legislative reform many were hoping for, if the bill passes, the study group will have an opportunity to make a closer investigation of the issues and, with their report due by March 1, 2017, might be able to hone in on some statutory changes that might make meaningful legislative change in 2017 a possibility.
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Mejor que Nada? Construction-Defect “Study Group” May Get Legislative Sanction
Rocky Mountain Real Estate Law
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