Amendments for HB23-1174
House Journal, March 9
1 HB23-1174 be amended as follows, and as so amended, be referred to
2 the Committee on Appropriations with favorable
3 recommendation:
4
5 Amend printed bill, page 2, line 4, strike "rebuild" and substitute
6 "reconstruct".
7
8 Page 2, lines 4 and 5, strike "insurer requirements -".
9
10 Page 2, line 6, after "ANNUAL" insert "RESIDENTIAL RECONSTRUCTION
11 CONSUMER INFORMATION".
12
13 Page 2, strike line 7 and substitute "COST OF RECONSTRUCTING HOMES IN
14 COLORADO,".
15
16 Page 2, line 8, strike "LOSS,".
17
18 Page 2, line 9, strike "AND" and strike "TYPES." and substitute "TYPES,
19 AND THE FACTORS INCLUDED IN SECTION 10-4-110.8 (8).".
20
21 Page 3, strike lines 6 through 24.
22
23 Renumber succeeding subsection accordingly.
24
25 Page 4, line 14, strike "(6)" and substitute "(6)(a)" and strike "(3)(d.5),
26 (3)(d.7)," and substitute "(3)(d.7)".
27
28 Page 4, strike lines 21 through 25.
29
30 Page 5, strike lines 3 through 27.
31
32 Page 6, strike lines 1 through 14 and substitute:
33
34 "(6) (a) (I) Before issuance or renewal of a replacement-cost
35 homeowner's insurance policy whose dwelling limit is equal to or greater
36 than the estimated replacement cost of the residence, the insurer shall
37 make available to an applicant the opportunity to obtain extended
38 replacement-cost coverage and law and ordinance coverage. At a
39 minimum, the insurer shall make available OFFER law and ordinance
40 coverage in an amount of insurance equal to ten TWENTY percent of the
41 limit of the insurance for the dwelling and extended replacement-cost
42 coverage in an amount of insurance that is at least twenty FIFTY percent
43 of the limit of the insurance for the dwelling. Information provided must
44 be accompanied by an explanation of the purpose, terms, and cost of these
45 coverages. This paragraph (a) SUBSECTION (6)(a) does not apply to any
46 homeowner's insurance policy that already includes GUARANTEED
47 REPLACEMENT COST COVERAGE, INFLATION PROTECTION COVERAGE,
48 extended replacement-cost coverage, and OR law and ordinance coverage
49 in amounts greater than or equal to the amounts specified in this
50 paragraph (a) SUBSECTION (6)(a).
51 (II) THE INSURER SHALL LIST ON THE DECLARATION PAGE OF THE
52 POLICY, IN BOLD AND IN TWELVE-POINT TYPE, WHETHER A CONSUMER
53 PURCHASED OR REJECTED THE ADDITIONAL COVERAGES LISTED IN THIS
54 SUBSECTION (6)(a), AS PRESCRIBED BY THE COMMISSIONER BY RULE.".
55
56
1 Page 6, line 19, strike "REPLACEMENT" and substitute
2 "RECONSTRUCTION".
3
4 Page 6, line 20, strike "REPLACEMENT" and substitute
5 "RECONSTRUCTION".
6
7 Page 6, line 22, strike "REBUILDING" and substitute "RECONSTRUCTION".
8
9 Page 6, line 24, strike "REBUILDING" and substitute "RECONSTRUCTION".
10
11 Page 7, strike line 1 and substitute:
12
13 "(IV) COST OF PERMITS AND ARCHITECT'S PLANS AND FEES; AND".
14
15 Page 7, line 2 strike "PROPERTY," and substitute "STRUCTURE,".
16
17 Page 7, line 3, strike "FOUNDATION;" and substitute "FOUNDATION TYPE;".
18
19 Page 7, line 13 strike "PROPERTY" and substitute "STRUCTURE".
20
21 Page 7, line 14 strike "PROPERTY'S" and substitute "STRUCTURE'S".
22
23 Page 7, line 17, after "12," add "IF".
24
25 Page 7, line 19, strike "(9.5) and substitute "(9.5) (a)" and after "A" add
26 "REPLACEMENT COST".
27
28 Page 7, line 21, strike "(a)" and substitute "(I)".
29
30 Page 7, line 22 strike "REBUILD OR REPLACE" and substitute
31 "RECONSTRUCT".
32
33 Page 7, line 23, strike "PROPERTY;" and substitute "STRUCTURE;".
34
35 Page 7, line 24, strike "(b)" and substitute "(II)".
36
37 Page 7, line 26, strike "(I)" and substitute "(A)".
38
39 Page 8, strike lines 1 through 3 and substitute:
40
41 "(B) THE RECONSTRUCTION COSTS FOR HOMES AS DETAILED IN THE
42 ANNUAL REPORT REQUIRED IN SECTION 10-1-144 FOR THE SAME
43 GEOGRAPHIC AREA OF THE INSURED'S HOME;".
44
45 Page 8, line 4, strike "(c)" and substitute "(III)" and after "ANY" add
46 "GENERATED".
47
48 Page 8, line 5, after "TOOLS" add "OR SERVICES" and strike
49 "REPLACEMENT" and substitute "RECONSTRUCTION".
50
51 Page 8, line 6, strike "AND".
52
53 Page 8, strike line 7 and substitute:
54
55 "(IV) PROVIDE THE APPLICANT OR POLICYHOLDER WITH THE WEB
56 ADDRESS OF, OR A LINK TO,".
1 Page 8, line 8, strike "10-1-144." and substitute "10-1-144; AND".
2
3 Page 8, before line 9 insert:
4
5 "(b) AN INSURER OTHERWISE SUBJECT TO THIS SUBSECTION (9.5)
6 DOES NOT HAVE TO COMPLY WITH THE REQUIREMENTS OF THIS
7 SUBSECTION (9.5) IF:
8 (I) WITHIN THE TWO YEARS PRIOR TO THE OFFER OF RENEWAL OF
9 THE HOMEOWNER'S INSURANCE POLICY, THE POLICYHOLDER HAS
10 REQUESTED AND THE INSURER HAS PROVIDED COVERAGE LIMITS GREATER
11 THAN THE LIMITS PREVIOUSLY SELECTED BY THE POLICYHOLDER; OR
12 (II) IN CONNECTION WITH ITS ANNUAL OFFER TO RENEW THE
13 POLICY, THE INSURER HAS OFFERED THE POLICYHOLDER, ON AN
14 EVERY-OTHER-YEAR BASIS, THE RIGHT TO RECALCULATE THE
15 RECONSTRUCTION COST ESTIMATE AND THE POLICY INCLUDES INFLATION
16 PROTECTION COVERAGE.".
17
18 Page 8, line 14, strike "REBUILD" and substitute "RECONSTRUCTION".
19
20 Page 8, line 15, strike " rebuilding" and substitute "RECONSTRUCTING".
21
22 Page 1, strike line 103, and substitute "COST OF RECONSTRUCTING A
23 HOME,".
24
25
House Journal, April 19
38 Amend printed bill, page 8, after line 20 insert:
39
40 "SECTION 4. Appropriation. (1) For the 2023-24 state fiscal
41 year, $454,088 is appropriated to the department of regulatory agencies
42 for use by the division of insurance. This appropriation is from the
43 division of insurance cash fund created in section 10-1-103 (3), C.R.S. To
44 implement this act, the division may use this appropriation as follows:
45 (a) $381,488 for personal services, which amount is based on an
46 assumption that the division will require an additional 1.6 FTE;
47 (b) $15,500 for operating expenses; and
48 (c) $57,100 for the purchase of legal services.
49 (2) For the 2023-24 state fiscal year, $57,100 is appropriated to the
50 department of law. This appropriation is from reappropriated funds
51 received from the department of regulatory agencies under subsection
52 (1)(c) of this section and is based on the assumption that the department
53 of law will require an additional 0.3 FTE. To implement this act, the
54 department of law may use this appropriation to provide legal services for
55 the department of regulatory agencies.".
1 Renumber succeeding section accordingly.
2
3 Page 1, line 106, strike "AND".
4
5 Page 1 line 107, strike "INSURANCE." and substitute "INSURANCE, AND
6 MAKING AN APPROPRIATION.".
House Journal, April 19
37 Amend the Business Affairs and Labor Committee Report, dated March
38 8, 2023, page 1, strike line 3 and substitute:
39 "Page 2 of the printed bill, lines 4 and 5, strike "insurer requirements
40 -" and substitute "homeowner's insurance affordability study -".".
41
42 Page 1 of the report, strike lines 11 and 12 and substitute:
43 "Page 2 of the bill, line 10, strike "2024," and substitute "2025,".
44
45 Page 3 of the bill, strike lines 6 through 24 and substitute:
46 "(2) AFTER A STAKEHOLDER PROCESS, THE COMMISSIONER MAY
47 CONTRACT WITH AN INDEPENDENT THIRD PARTY TO EVALUATE POLICIES
48 TO ADDRESS THE AFFORDABILITY OF HOMEOWNER'S INSURANCE.".".
49
50 Page 2 of the report, strike lines 18 through 21 and substitute:
51 "(II) NO LATER THAN JANUARY 1, 2025, AND AS PRESCRIBED BY
52 THE COMMISSIONER BY RULE, THE INSURER SHALL:
53 (A) LIST ON THE DECLARATION PAGE OF THE POLICY, IN BOLD AND
54 IN TWELVE-POINT TYPE, WHETHER A CONSUMER PURCHASED OR REJECTED
55 THE ADDITIONAL COVERAGES LISTED IN THIS SUBSECTION (6)(a); AND
56
1 (B) PROVIDE THE PREMIUM COST ASSOCIATED WITH THE REJECTED
2 ADDITIONAL COVERAGES LISTED IN THIS SUBSECTION (6)(a) IN A SEPARATE
3 NOTICE WITH THE APPLICATION OR RENEWAL OF THE POLICY.".".
4
5 Page 3 of the report, after line 4 insert:
6 "Page 7 of the bill, line 20, strike "POLICY," and substitute "POLICY FOR
7 A DWELLING THAT IS ISSUED OR RENEWED ON AND AFTER JANUARY 1,
8 2025,".".
9
10 Page 4 of the report, after line 12 insert:
11
12 "Page 8 of the bill, strike line 21 and substitute:
13 "SECTION 4. Act subject to petition - effective date. Section
14 10-4-110.8 (8), Colorado Revised Statutes, as amended in section 3 of
15 this act, takes effect January 1, 2025, and the remainder of this act".
16
17 Page 9, line 2, strike "governor." and substitute "governor; except that
18 section 10-4-110.8 (8), Colorado Revised Statutes, as amended in section
19 3 of this act, takes effect January 1, 2025.".".
20
21 As amended, ordered engrossed and placed on the Calendar for Third
22 Reading and Final Passage.
Senate Journal, May 6
After consideration on the merits, the Committee recommends that HB23-1174 be
amended as follows, and as so amended, be referred to the Committee of the Whole with
favorable recommendation.
Amend reengrossed bill, page 8, line 3, strike "$454,008" and substitute
"$109,955".
Page 8, line 7, strike "$381,488" and substitute "$64,139".
Page 8, line 8, strike "1.6 FTE" and substitute "0.8 FTE".
Page 8, line 9, strike "$15,500" and substitute "$7,750".
Page 8, line 10, strike "$57,100" and substitute "$38,066".
Page 8, line 11, strike "$57,100" and substitute "$38,066".
Page 8, line 15, strike "0.3 FTE" and substitute "0.2 FTE".
Appro-
priations