Bill Tracker

The bill requires the real estate commission to promulgate rules
requiring that certain commission-approved forms require notification to
buyers or tenants as to whether a real estate transaction is based upon a

land survey plat or an improvement location certificate.
Current law forbids designating or construing an improvement
location certificate as being a land survey plat or improvement survey
plat. The bill clarifies that real estate documents and forms shall not
designate or construe such a certificate as being a land or improvement
survey plat.

• April 11, 2022: Senate Business, Labor, & Technology Committee Report
• February 03, 2022: House Business Affairs & Labor Committee Report

Sunset Process - House Business Affairs and Labor
Committee. The bill implements the recommendations of the department

of regulatory agencies, as contained in the department's sunset review of
the board of real estate appraisers (board), as follows:
  • Continues the board for 9 years, until September 1, 2031
(sections 1 and 2 of the bill);
  • Requires the board to adopt rules to authorize an exemption
from compliance with the uniform standards of
professional appraisal practice that would allow an
appraiser to perform an evaluation instead of a full
appraisal for a federally regulated financial institution and
authorizes an appraiser to conduct an evaluation in
accordance with the board's rules (sections 3 and 6);
  • Amends statute to comport with federal law, including
updating the number of appraisers with which a licensed
appraisal management company does business, updating
the qualifications for licensure to require the minimum
appraisal experience required by the Appraiser
Qualifications Board of the Appraisal Foundation or its
successor organization, clarifying the federal regulating
authorities that regulate a financial institution exempted
from state registration or licensure, and aligning the hours
of continuing education required for reactivation of an
inactive license with the number of hours required by the
Appraiser Qualifications Board (sections 4 and 6 to 8);
  • Repeals the requirement that the board send letters of
admonition by certified mail (sections 9 and 10);
  • Clarifies that fines are assessed on a per-violation basis and
reduces the maximum penalty from $2,000 to $1,000,
which maximum penalty applies to any violation (section
9); and
  • Directs the state treasurer to credit penalties and fines
collected to the general fund instead of the division of real
estate cash fund (section 5).

• April 25, 2022: Senate Appropriations Committee Report
• April 18, 2022: Senate Business, Labor, & Technology Committee Report
• April 01, 2022: House Appropriations Committee Report
• March 21, 2022: House Finance Committee Report
• March 16, 2022: House Business Affairs & Labor Committee Report

The bill creates a new state income tax credit (new credit) for

certain taxpayers who were denied state income tax credits for
conservation easements donated between 2000 and 2013 (original credit)
if the federal internal revenue service allowed a federal income tax
deduction for the same donation. A donation is eligible for the new credit
only if the land subject to the donated conservation easement for which
the original credits were disallowed was owned by the landowner, a
family member of the landowner, or a trust or other legal entity controlled
by the landowner or one or more members of the family of the landowner
for not less than 3 consecutive years prior to the date of the donation.
The amount of the new credit is based upon the amount of the
original credit that could have been claimed at the time of the original
donation based upon the value of the donation accepted by the internal
revenue service; except that the fair market value of the land used to
calculate the value of the new credit cannot exceed 250% of the donor's
cost basis in the land subject to the donated conservation easement. The
amount of the new credit is reduced by any amount that was allowed to
be claimed against Colorado income tax or otherwise reinstated to the
claimant of the original credit. The new credit is not refundable but may
be carried forward or transferred in the same manner as the original
credit. The department of revenue is required to make information about
the new credit available online.
The bill establishes a process for applying to the division of
conservation to claim the new credit. If the original credit that was denied
was transferred to another taxpayer as transferee, the bill provides a
process for all parties to the transaction to submit a mutual application to
claim the new credit or, if there is objection, an ombudsman process to
resolve disputes about the distribution of the credit.

• May 10, 2022: Senate Appropriations Committee Report
• March 16, 2022: Senate Finance Committee Report