Amendments for HB23-1190
House Journal, March 1
14 Amend printed bill, page 4, line 5, strike "CAP." and substitute "CAP;
15 EXCEPT THAT THE RENT INCREASE CAP SHALL NOT APPLY TO UNITS OF
16 HOUSING REGULATED BY FAIR MARKET RENTS PUBLISHED BY THE UNITED
17 STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT OR ANY
18 OTHER FEDERAL OR STATE PROGRAMS THAT RESTRICT OR LIMIT
19 ALLOWABLE RENTS.".
20
21 Page 4, line 13, before "PROPERTY" insert "RENTAL".
22
23 Page 4, strike lines 18 through 27.
24
25 Page 5, strike lines 1 through 11 and substitute:
26
27 "(b) "QUALIFYING PROPERTY" DOES NOT INCLUDE A MOBILE HOME
28 PARK AS DEFINED IN SECTION 38-12-201.5 (6).".
29
30 Page 6, line 8, strike "ENTITY" and substitute "ENTITY, A PRIVATE ENTITY,
31 OR ANOTHER GOVERNMENTAL ENTITY".
32
33 Page 7, line 24, strike "A RESIDENTIAL SELLER IS".
34
35 Page 7, strike lines 25 through 27.
36
37 Page 8, strike lines 1 through 3 and substitute "A RESIDENTIAL SELLER
38 SHALL NOT COLLUDE WITH A POTENTIAL BUYER FOR THE PRIMARY
39 PURPOSE OF INFLATING A SALES PRICE ABOVE THE MARKET PRICE OF A
40 QUALIFYING PROPERTY.".
41
42 Page 8, line 6, strike "OR ANY HOUSING AUTHORITY IN THE STATE" and
43 substitute "ANY HOUSING AUTHORITY IN THE STATE, OR THE COLORADO
44 HOUSING AND FINANCE AUTHORITY, CREATED IN SECTION 29-4-704 (1),".
45
46 Page 9, line 25, after "PROPERTY;" add "EXCEPT THAT ANY ACTION TAKEN
47 TO ENGAGE WITH A POLITICAL SUBDIVISION OR A HOUSING AUTHORITY IN
48 THE STATE TO FACILITATE NEGOTIATIONS BETWEEN THE RESIDENTIAL
49 SELLER AND A THIRD-PARTY TO CREATE OR PRESERVE LONG-TERM
50 AFFORDABLE HOUSING FOR A QUALIFYING PROPERTY IS NOT CONSIDERED
51 A TRIGGERING EVENT UNTIL ANOTHER ACTION SET FORTH IN THIS
52 SUBSECTION (2)(b) OCCURS;".
53
54 Page 10, line 16, after "HAND" insert "OR ELECTRONIC MAIL".
55
56
1 Page 11, line 20, after "ASSIGNEES" insert "OR A PROSPECTIVE ENTITY THE
2 LOCAL GOVERNMENT PARTNERS WITH PURSUANT TO SUBSECTION (1)(a)(II)
3 OF THIS SECTION".
4
5 Page 12, after line 2 insert:
6 "(e) (I) PRIOR TO THE SALE OF A QUALIFYING PROPERTY, A
7 RESIDENTIAL SELLER SHALL EXECUTE AND RECORD IN THE REAL PROPERTY
8 RECORDS OF THE COUNTY IN WHICH THE QUALIFYING PROPERTY IS
9 LOCATED AN AFFIDAVIT CERTIFYING UNDER PENALTY OF PERJURY THAT
10 THEY HAVE COMPLIED WITH THE REQUIREMENTS OF THIS PART 12.
11 (II) ANY PARTY THAT ACQUIRES AN INTEREST IN THE QUALIFYING
12 PROPERTY AND A TITLE INSURANCE ENTITY AS DEFINED IN SECTION
13 10-11-102 (11) SHALL HAVE AN ABSOLUTE RIGHT TO RELY ON THE TRUTH
14 AND ACCURACY OF ALL STATEMENTS IN THE AFFIDAVIT MADE PURSUANT
15 TO SUBSECTION (2)(e)(I) OF THIS SECTION AND SHALL NOT BE HELD LIABLE
16 OR RESPONSIBLE FOR ANY DAMAGES RELATED TO A RESIDENTIAL SELLER'S
17 MISREPRESENTATION IN THE AFFIDAVIT.".
18
19 Page 12, line 11, after "HAND" insert "OR ELECTRONIC MAIL".
20
21 Page 14, line 27, after "SELLER." add "NOTWITHSTANDING ANY OTHER
22 PROVISION IN THIS PART 12 TO THE CONTRARY, A POLITICAL SUBDIVISION
23 OR A HOUSING AUTHORITY IN THE STATE THAT ENGAGES IN ACTIVITIES TO
24 CREATE OR PRESERVE LONG-TERM AFFORDABLE HOUSING FOR A
25 QUALIFYING PROPERTY IS NOT CONSIDERED AN AGENT WORKING ON
26 BEHALF OF A RESIDENTIAL SELLER FOR PURPOSES OF THIS PART 12.".
27
28 Page 15, strike lines 5 and 6 and substitute "AUCTION.".
29
30 Page 15, line 7, strike "TRUSTEE.".
31
32 Page 15, line 8, strike "NINETY" and substitute "THIRTY".
33
34 Page 15, line 17, strike "INCOME; EXCEPT THAT RESIDENTS AT THE" and
35 substitute "INCOME.".
36
37 Page 15, strike lines 18 through 27.
38
39 Page 16, strike lines 1 through 3 and substitute:
40
41 "(b) NOTWITHSTANDING SECTION 29-4-1201 (4), RESIDENTS AT
42 THE QUALIFYING PROPERTY AT THE TIME IT IS ACQUIRED BY THE LOCAL
43 GOVERNMENT PURSUANT TO THIS SECTION MAY CONTINUE TO RESIDE AT
44 THE QUALIFYING PROPERTY IRRESPECTIVE OF THEIR INCOME LEVEL FOR AT
45 LEAST THE DURATION OF THEIR TENANCY AGREEMENT UNDER THE
46 TENANCY AGREEMENT'S TERMS IN EFFECT AT THE TIME THE LOCAL
47 GOVERNMENT ACQUIRES THE QUALIFYING PROPERTY.
48 (c) A RESIDENT'S INCOME MAY ONLY EXCEED THE APPLICABLE
49 AREA MEDIAN INCOME IF THAT RESIDENT HAS A PRE-EXISTING TENANCY
50 AGREEMENT IN ACCORDANCE WITH SUBSECTION (8)(b) OF THIS SECTION.
51 (d) ONLY IN ACCORDANCE WITH SUBSECTION (8)(c) OF THIS
52 SECTION MAY THE LOCAL GOVERNMENT DECLINE TO RENEW A RESIDENT'S
53 PRE-EXISTING TENANCY AGREEMENT ONCE IT ENDS IN ORDER TO BRING
54 THE QUALIFYING PROPERTY INTO COMPLIANCE WITH SUBSECTION (8)(a) OF
55 THIS SECTION.".
56
1 Page 17, line 1, strike "THE LOCAL GOVERNMENT MAY" and substitute "IN
2 ADDITION TO NOT RESPONDING TO A RESIDENTIAL SELLER'S NOTICE AS SET
3 FORTH IN SECTION 29-4-1202 (3)(a)(III), THE LOCAL GOVERNMENT MAY
4 ALSO".
5
6 Page 17, line 20, after "PROPERTY;" strike "AND".
7
8 Page 18, line 5, strike "LAW." and substitute "LAW; AND".
9
10 Page 18, after line 5 insert:
11
12 "(C) THE THIRD-PARTY BUYER SHALL CERTIFY ITS COMPLIANCE
13 WITH SUBSECTION (2)(b)(II)(B) OF THIS SECTION AT LEAST ONCE EVERY
14 TWO YEARS BY SUBMITTING DOCUMENTATION TO THE LOCAL
15 GOVERNMENT IN A FORM AND MANNER DEEMED ACCEPTABLE BY THE
16 LOCAL GOVERNMENT.".
17 Page 19, line 15, strike "(1) (a)" and substitute "(1) (a) (I)".
18
19 Page 19, after line 24 insert:
20 "(II) NOTWITHSTANDING SUBSECTION (1)(a)(I) OF THIS SECTION,
21 AND IN ADDITION TO THE REMEDIES SET FORTH IN SUBSECTION (3) OF THIS
22 SECTION, IF A COURT FINDS THAT A RESIDENTIAL SELLER HAS MADE A
23 MISREPRESENTATION IN AN AFFIDAVIT MADE IN ACCORDANCE WITH
24 SECTION 29-4-1202 (2)(e), THE SOLE REMEDY AVAILABLE IS AGAINST THE
25 RESIDENTIAL SELLER. THE INTEREST IN THE QUALIFYING PROPERTY
26 TRANSFERRED IN RELIANCE ON THE AFFIDAVIT SHALL NOT BE TREATED AS
27 DEFECTIVE OR AFFECTED IN ANY OTHER WAY.".
28
29 Page 20, after line 10 insert:
30 "(3) IF A COURT FINDS THAT A RESIDENTIAL SELLER, OR A
31 THIRD-PARTY BUYER THAT HAS ENTERED INTO AN AGREEMENT WITH THE
32 LOCAL GOVERNMENT PURSUANT TO SECTION 29-4-1203 (2)(b), IS IN
33 VIOLATION OF THIS PART 12, IN ADDITION TO ANY OTHER AVAILABLE
34 REMEDY, THE COURT SHALL AWARD A STATUTORY PENALTY OF NOT LESS
35 THAN FIFTY THOUSAND DOLLARS OR AN AMOUNT EQUAL TO THIRTY
36 PERCENT OF THE PURCHASE OR LISTING PRICE OF THE QUALIFYING
37 PROPERTY, WHICHEVER AMOUNT IS GREATER.".
38
39 Renumber succeeding subsections accordingly.
40
4 41 Before "DAYS" insert "CALENDAR" on: Page 8, line 26; Page 15, lines
42 and 8; and Page 18, line 20.
43
44 Strike "BUSINESS" and substitute "CALENDAR" on: Page 12, line 5; and
45 Page 14, lines 2 and 6.
Senate Journal, April 5
Amend reengrossed bill, page 4, line 18, strike "FIVE" and substitute "FIFTEEN".
Page 4, line 19, strike "THREE" and substitute "FIVE".
Page 8, after line 13 insert:
"(f) THE LOCAL GOVERNMENT MAY CREATE A RIGHT OF FIRST REFUSAL
OPPORTUNITY EVALUATION RUBRIC BASED ON LOCAL HOUSING NEEDS TO
DETERMINE WHEN IT MAY OR MAY NOT EXERCISE ITS RIGHT OF FIRST REFUSAL
UNDER THIS PART 12. SUCH A RUBRIC MAY CONSIDER GEOGRAPHY, ACQUISITION
COST, PROXIMITY TO AMENITIES, UNIT COUNT, AND OTHER LOCAL PRIORITIES.
FOR QUALIFYING PROPERTIES THAT DO NOT ALIGN WITH THE LOCAL PRIORITIES
IDENTIFIED IN THE RUBRIC, THE LOCAL GOVERNMENT SHOULD EXPEDITIOUSLY
WAIVE ITS RIGHT OF FIRST REFUSAL TO SUCH QUALIFYING PROPERTIES.".
Page 12, line 16, strike "FOURTEEN" and substitute "SEVEN".
Page 14, line 15, strike "THE" and substitute "EXCEPT AS OTHERWISE PROVIDED
IN SUBSECTION (5)(b) OF THIS SECTION FOR ALLOWABLE TOLLING PERIODS,
THE".
Page 14, line 15, strike "SIXTY" and substitute "THIRTY".
Page 14, lines 18 and 19, strike "ONE HUNDRED TWENTY CALENDAR DAYS" and
substitute "SIXTY CALENDAR DAYS, TO THE EXTENT PRACTICABLE, AND NOT
MORE THAN NINETY CALENDAR DAYS".
Page 15, strike lines 19 through 27.
Page 16, strike line 1.
Renumber succeeding subsection accordingly.
Page 17, after line 11 insert:
"(h) MADE TO A NOT-FOR-PROFIT MISSION-DRIVEN AFFORDABLE
HOUSING PROVIDER WHO HAS PROVIDED NOTICE OF INTENT TO PURCHASE THE
QUALIFYING PROPERTY, HAS A HISTORY OF DEVELOPING AFFORDABLE HOUSING,
AND WHO COMMITS TO PROVIDING TO TENANTS A MAJORITY OF UNITS BELOW
MARKET RATE;".
Reletter succeeding paragraphs accordingly.
Page 17, line 12, after "COMMON;" strike "OR".
Page 17, line 19, strike "SELLER." and substitute "SELLER; OR".
Page 17, after line 19 insert:
"(k) ANY QUALIFYING PROPERTIES FOR WHICH THE FIRST CERTIFICATE
OF OCCUPANCY WAS ISSUED WITHIN THIRTY YEARS PRECEDING THE DATE OF A
TRIGGERING EVENT.".
Page 22, after line 13 insert:
"29-4-1206. Repeal of part. THIS PART 12 IS REPEALED, EFFECTIVE
AUGUST 1, 2028.".
Senate Journal, May 6
HB23-1190 by Representative(s) Boesenecker and Sirota; also Senator(s) Winter F. and Jaquez Lewis--
Concerning a right of first refusal to purchase qualifying multifamily residential property by
a local government.
Amendment No. 1, Local Government & Housing Committee Amendment.
(Printed in Senate Journal, May 3, page(s) 686-687 and placed in members' bill files.)
Amendment No. 2(L.046), by Senator Winter.
Amend reengrossed bill, page 10, strike lines 5 through 8 and substitute:
"(c) A RESIDENTIAL SELLER DOES NOT NEED TO PROVIDE A SUBSEQUENT
NOTICE TO THE LOCAL GOVERNMENT UNLESS THE TERMS OF AN ACCEPTABLE
SALE MATERIALLY CHANGE. IF THE TERMS OF AN ACCEPTABLE SALE MATERIALLY
CHANGE, THE RESIDENTIAL SELLER SHALL PROVIDE A SUBSEQUENT NOTICE TO
THE LOCAL GOVERNMENT. FOR PURPOSES OF THIS SUBSECTION (2)(c), ANY
CHANGE IN THE PRICE OF A WRITTEN OFFER THE RESIDENTIAL SELLER HAS
RECEIVED ON THE QUALIFYING PROPERTY OR ANY CHANGE IN THE PRICE OF AN
ACCEPTABLE WRITTEN OFFER ON THE QUALIFYING PROPERTY IS A MATERIAL
CHANGE.".
Page 12, strike line 6 and substitute:
"THE REQUIREMENTS OF THIS PART 12 HAVE BEEN SATISFIED, AND STATE
WITH RESPECT TO SUCH SALE EITHER THAT:
(A) THE RIGHTS AND PROPERTY INTERESTS OF THE LOCAL GOVERNMENT
UNDER THIS PART 12 HAVE EXPIRED OR HAVE BEEN RELEASED OR WAIVED; OR
(B) THAT THE PURCHASER IS THE LOCAL GOVERNMENT OR ITS ASSIGNEE
UNDER THIS PART 12.".
Page 12, lines 11 and 12, strike "HELD LIABLE OR RESPONSIBLE FOR ANY
DAMAGES RELATED TO" and substitute "LIABLE IN LAW OR EQUITY, INCLUDING
UNDER ANY POLICY OR AGREEMENT OF TITLE INSURANCE AS DEFINED IN SECTION
10-11-102 (8), FOR".
Page 13, line 3, strike "GOVERNMENT," and substitute "GOVERNMENT OR IF THE
LOCAL GOVERNMENT FAILS TO MAKE AN OFFER WITHIN THE TIME PERIOD
PROVIDED IN AND IN ACCORDANCE WITH SUBSECTION (4) OF THIS SECTION,".
Page 15, after line 10, insert:
"(6) ANY ACTION BY THE LOCAL GOVERNMENT REQUIRED OR PERMITTED
UNDER THIS PART 12 MAY BE PERFORMED BY, AS MAY BE APPLICABLE AND TO
THE EXTENT PERMITTED BY LAW, THE COUNTY MANAGER OF A COUNTY, THE
MAYOR OR CITY MANAGER OF A CITY OR TOWN, OR ANOTHER OFFICER
DESIGNATED BY THE GOVERNING BODY OF THE LOCAL GOVERNMENT.".
Renumber succeeding subsections accordingly.
Amendment No. 3(L.047), by Senator Winter.
Amend reengrossed bill, page 20, line 19, strike "IS DEFECTIVE UNLESS" and
substitute "REMAINS SUBJECT TO".
Page 20, line 21, strike "SECTION ARE SECURED OR UNTIL" and substitute
"SECTION, UNLESS SUCH PROPERTY INTERESTS HAVE EXPIRED, ARE RELEASED OR
WAIVED, OR".
Page 20, line 23, strike "SECTION," substitute "SECTION OR ANY OTHER
PROVISION OF THIS PART 12:".
Page 20, strike line 24 and substitute:
"(A) IN ADDITION TO THE REMEDIES SET FORTH IN SUBSECTION (3) OF
THIS".
Page 21, line 1, strike "SELLER. THE INTEREST IN THE QUALIFYING PROPERTY"
and substitute "SELLER; AND".
Page 21, strike lines 2 and 3 and substitute:
"(B) THE INTEREST IN A QUALIFYING PROPERTY TRANSFERRED IN
RELIANCE ON AN AFFIDAVIT MADE IN ACCORDANCE WITH SECTION 29-4-1202
(2)(e) IS NOT SUBJECT TO THE PROPERTY INTERESTS OF THE LOCAL GOVERNMENT
IN THE QUALIFYING PROPERTY.".
Amendment No. 4(L.066), by Senator Winter.
Amend the Local Government and Housing Committee Report, dated April 4,
2023, page 1, after line 13 insert:
"Page 9 of the reengrossed bill, strike lines 21 through 26.
Renumber succeeding subparagraphs accordingly.".
Amend the reengrossed bill, page 17, line 10, strike "STATE OR TO A LOCAL
GOVERNMENT;" and substitute "STATE, A LOCAL GOVERNMENT, THE COLORADO
HOUSING AND FINANCE AUTHORITY, CREATED IN SECTION 29-4-704 (1), THE
COLORADO MIDDLE INCOME HOUSING AUTHORITY, CREATED IN SECTION
29-4-1104 (1), AND ANY OTHER POLITICAL SUBDIVISION OF THE STATE;".
Amend the Local Government and Housing Committee Report, dated April 4,
2023, page 2 of the report, line 12, strike ""SELLER; OR"." and substitute
""SELLER;".".
Page 2 of the report, strike lines 14 through 16 and substitute:
""(k) IF THE FIRST CERTIFICATE OF OCCUPANCY FOR THE QUALIFYING
PROPERTY WAS ISSUED WITHIN THIRTY YEARS PRECEDING THE DATE OF A
TRIGGERING EVENT THAT IS SET FORTH IN SECTION 29-4-1202 (2)(b);
(l) IF THE QUALIFYING PROPERTY IS THE SUBJECT OF A FORECLOSURE
ACTION OR IS ACQUIRED BY A FORECLOSING LENDER IN A FORECLOSURE ACTION
OR BY A DEED IN LIEU OF FORECLOSURE;
(m) MADE TO ANY ORGANIZATION THAT PROVIDES NOTICE TO THE LOCAL
GOVERNMENT, THAT AGREES TO RESYNDICATE THE QUALIFYING PROPERTY
PURSUANT TO 26 U.S.C. SEC. 42, AND THAT MAINTAINS AFFORDABILITY FOR AT
LEAST THIRTY YEARS FROM THE DATE OF THE RESYNDICATION THROUGH A LAND
USE RESTRICTIVE AGREEMENT ON THE QUALIFYING PROPERTY. AS USED IN THIS
SUBSECTION (1)(m), "AFFORDABILITY" MEANS THAT RENT FOR ANY UNIT IN THE
QUALIFYING PROPERTY DOES NOT EXCEED THE RENT FOR HOUSEHOLDS OF A
GIVEN SIZE AT THE APPLICABLE AREA MEDIAN INCOME, AS PUBLISHED ANNUALLY
BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT;
OR
(n) IF THE QUALIFYING PROPERTY WILL BE SOLD AND PURCHASED FOR
THE CONTINUED PROVISION OF, OR WILL BE CONVERTED TO PROVIDE, MEDICAL
SERVICES, SOCIAL SERVICES, OR HALFWAY HOUSING.".".
Amendment No. 5(L.067), by Senator Winter.
Amend reengrossed bill, page 14, after line 20 insert:
"(5) (a) IF THE LOCAL GOVERNMENT OR ITS ASSIGNEE RECEIVES A
SUBSEQUENT NOTICE FROM A RESIDENTIAL SELLER AS REQUIRED BY SUBSECTION
(2)(c) OF THIS SECTION, THE LOCAL GOVERNMENT OR ITS ASSIGNEE SHALL:
(I) PROVIDE A NOTICE OF INTENT IN ACCORDANCE WITH SUBSECTION
(3)(a)(I) OF THIS SECTION; EXCEPT THAT THE NOTICE OF INTENT DOES NOT NEED
TO BE PROVIDED AGAIN IF THE LOCAL GOVERNMENT OR ITS ASSIGNEE HAS
PREVIOUSLY PROVIDED A NOTICE OF INTENT;
(II) MAKE AN OFFER TO PURCHASE THE QUALIFYING PROPERTY WITHIN
TWENTY-ONE CALENDAR DAYS OF RECEIPT OF THE SUBSEQUENT NOTICE; AND
(III) AGREE TO CLOSE ON THE QUALIFYING PROPERTY IN ACCORDANCE
WITH SUBSECTION (4) OF THIS SECTION.
(b) IF THE LOCAL GOVERNMENT OR ITS ASSIGNEE DOES NOT MAKE AN
OFFER WITHIN THE TIME PERIOD SET FORTH IN SUBSECTION (5)(a)(II) OF THIS
SECTION, THE RIGHTS UNDER THIS PART 12 EXPIRE.".
Renumber succeeding subsections accordingly.
Amendment No. 6(L.070), by Senator Winter.
Amend reengrossed bill, page 8, after line 13 insert:
"(f) THE GOVERNING BODY OF THE LOCAL GOVERNMENT MAY ELECT TO
DISCLAIM ANY RIGHTS PROVIDED UNDER THIS PART 12 WITH RESPECT TO ANY
PROPOSED TRANSACTION OR FOR ANY DURATION OF TIME.
(g) A LOCAL GOVERNMENT THAT HAS NOT FULLY DISCLAIMED ALL
RIGHTS UNDER THIS PART 12 PURSUANT TO SECTION 29-4-1203 (2)(a), SHALL
POST A NOTICE IN A CONSPICUOUS LOCATION ON ITS WEBSITE THAT INFORMS
RESIDENTIAL SELLERS THAT QUALIFYING PROPERTIES, IF SOLD, MAY BE SUBJECT
TO A RIGHT OF FIRST REFUSAL FOR PURCHASE BY THE LOCAL GOVERNMENT AT A
PRICE AGREED UPON BY THE RESIDENTIAL SELLER.".
Page 10, line 4, strike "(2)(b)" and substitute "(2)".
Page 17, strike lines 20 through 27.
Strike page 18.
Page 19, strike lines 1 through 9 and substitute:
"(2) (a) IN ADDITION TO NOT RESPONDING TO A RESIDENTIAL SELLER'S
NOTICE AS SET FORTH IN SECTION 29-4-1202 (3)(a)(III), THE LOCAL
GOVERNMENT MAY ALSO WAIVE ITS RIGHTS UNDER THIS PART 12 IF THE LOCAL
GOVERNMENT MAKES THE DETERMINATION THAT A PROPOSED SALE TO A
THIRD-PARTY BUYER WILL ENSURE THAT:
(I) THE THIRD-PARTY BUYER AGREES THAT AT LEAST TEN PERCENT OF
THE DWELLING UNITS IN THE QUALIFYING PROPERTY WILL NOT EXCEED FIFTY
PERCENT OF THE AREA MEDIAN INCOME FOR A PERIOD OF FIFTEEN YEARS;
(II) THE THIRD-PARTY BUYER AGREES THAT AT LEAST TEN PERCENT OF
THE DWELLING UNITS IN THE QUALIFYING PROPERTY WILL NOT EXCEED SIXTY
PERCENT OF THE AREA MEDIAN INCOME FOR A PERIOD OF TWENTY YEARS; OR
(III) THE THIRD-PARTY BUYER AGREES THAT AT LEAST TEN PERCENT OF
THE DWELLING UNITS IN THE QUALIFYING PROPERTY WILL NOT EXCEED EIGHTY
PERCENT OF THE AREA MEDIAN INCOME FOR A PERIOD THIRTY YEARS.
(b) IN ORDER FOR THE REQUIREMENTS OF SUBSECTION (2)(a) OF THIS
SECTION TO BE MET:
(I) THE RESIDENTIAL SELLER MUST PROVIDE NOTICE TO THE LOCAL
GOVERNMENT PRIOR TO THE LOCAL GOVERNMENT MAKING AN OFFER TO
PURCHASE THE QUALIFYING PROPERTY UNDER SECTION 29-4-1202 THAT THE
THIRD-PARTY BUYER HAS MADE AN OFFER ON THE QUALIFYING PROPERTY AND
IS COMMITTED TO PRESERVING OR CONVERTING THE QUALIFYING PROPERTY AS
AFFORDABLE HOUSING UNDER EITHER SUBSECTION (2)(a)(I), (2)(a)(II), OR
(2)(a)(III) OF THIS SECTION IF THE QUALIFYING PROPERTY IS SOLD TO THE
THIRD-PARTY BUYER;
(II) THE THIRD-PARTY BUYER SHALL ENTER INTO AN AGREEMENT WITH
THE LOCAL GOVERNMENT THAT THE THIRD-PARTY BUYER SHALL PRESERVE OR
CONVERT THE QUALIFYING PROPERTY AS AFFORDABLE HOUSING UNDER EITHER
SUBSECTION (2)(a)(I), (2)(a)(II), OR (2)(a)(III) OF THIS SECTION IF THE
QUALIFYING PROPERTY IS SOLD TO THE THIRD-PARTY BUYER AND FOR ANY
OTHER TERMS TO WHICH THE THIRD-PARTY BUYER AND THE LOCAL GOVERNMENT
AGREE. IF, AFTER THE SALE OF THE QUALIFYING PROPERTY TO THE THIRD-PARTY
BUYER, THE THIRD-PARTY BUYER FAILS TO COMPLY WITH THE TERMS OF THE
AGREEMENT, THE THIRD-PARTY BUYER SHALL BE HELD LIABLE AND SUBJECT TO
ANY REMEDIES AND ENFORCEMENT UNDER THE AGREEMENT PURSUANT TO
SECTION 29-4-1205 OR UNDER ANY OTHER APPLICABLE LAW.
(III) THE THIRD-PARTY BUYER SHALL CERTIFY ITS COMPLIANCE WITH
THIS SUBSECTION (2) AT LEAST ONCE EVERY TWO YEARS BY SUBMITTING
DOCUMENTATION TO THE LOCAL GOVERNMENT IN A FORM AND MANNER DEEMED
ACCEPTABLE BY THE LOCAL GOVERNMENT.
(c) THE WAIVER PROVIDED UNDER THIS SUBSECTION (2) IS ONLY
EFFECTIVE FOR THE SALE TO THE THIRD-PARTY BUYER IDENTIFIED IN THE NOTICE
REQUIRED BY SUBSECTION (2)(b)(I) OF THIS SECTION, AND IF THE SALE TO THE
THIRD-PARTY BUYER DOES NOT OCCUR THEN THE WAIVER IS VOID AND THE
LOCAL GOVERNMENT IS ENTITLED TO ALL THE RIGHTS PROVIDED UNDER THIS
PART 12.".
Page 21, line 20, strike "(2)(b)," and substitute "(2),".
Amendment No. 7(L.049), by Senator Priola.
Amend reengrossed bill, page 8, after line 13 insert:
"(f) THE GOVERNING BODY OF THE LOCAL GOVERNMENT MAY ELECT TO
DISCLAIM ANY RIGHTS PROVIDED UNDER THIS PART 12 WITH RESPECT TO ANY
PROPOSED TRANSACTION OR FOR ANY DURATION OF TIME.
(g) A LOCAL GOVERNMENT THAT HAS NOT FULLY DISCLAIMED ALL
RIGHTS UNDER THIS PART 12 PURSUANT TO SECTION 29-4-1203 (2)(a), SHALL
POST A NOTICE IN A CONSPICUOUS LOCATION ON ITS WEBSITE THAT INFORMS
RESIDENTIAL SELLERS THAT QUALIFYING PROPERTIES, IF SOLD, MAY BE SUBJECT
TO A RIGHT OF FIRST REFUSAL FOR PURCHASE BY THE LOCAL GOVERNMENT AT A
PRICE AGREED UPON BY THE RESIDENTIAL SELLER.".
Page 10, line 4, strike "(2)(b)" and substitute "(2)".
Page 17, strike lines 20 through 27.
Strike page 18.
Page 19, strike lines 1 through 9 and substitute:
"(2) (a) IN ADDITION TO NOT RESPONDING TO A RESIDENTIAL SELLER'S
NOTICE AS SET FORTH IN SECTION 29-4-1202 (3)(a)(III), THE LOCAL
GOVERNMENT MAY ALSO WAIVE ITS RIGHTS UNDER THIS PART 12 IF THE LOCAL
GOVERNMENT MAKES THE DETERMINATION THAT A PROPOSED SALE TO A
THIRD-PARTY BUYER WILL ENSURE THAT:
(I) THE THIRD-PARTY BUYER AGREES THAT AT LEAST TEN PERCENT OF
THE DWELLING UNITS IN THE QUALIFYING PROPERTY WILL NOT EXCEED FIFTY
PERCENT OF THE AREA MEDIAN INCOME FOR A PERIOD OF FIFTEEN YEARS;
(II) THE THIRD-PARTY BUYER AGREES THAT AT LEAST TEN PERCENT OF
THE DWELLING UNITS IN THE QUALIFYING PROPERTY WILL NOT EXCEED SIXTY
PERCENT OF THE AREA MEDIAN INCOME FOR A PERIOD OF TWENTY YEARS; OR
(III) THE THIRD-PARTY BUYER AGREES THAT AT LEAST TEN PERCENT OF
THE DWELLING UNITS IN THE QUALIFYING PROPERTY WILL NOT EXCEED EIGHTY
PERCENT OF THE AREA MEDIAN INCOME FOR A PERIOD THIRTY YEARS.
(b) IN ORDER FOR THE REQUIREMENTS OF SUBSECTION (2)(a) OF THIS
SECTION TO BE MET:
(I) THE RESIDENTIAL SELLER MUST PROVIDE NOTICE TO THE LOCAL
GOVERNMENT PRIOR TO THE LOCAL GOVERNMENT MAKING AN OFFER TO
PURCHASE THE QUALIFYING PROPERTY UNDER SECTION 29-4-1202 THAT THE
THIRD-PARTY BUYER HAS MADE AN OFFER ON THE QUALIFYING PROPERTY AND
IS COMMITTED TO PRESERVING OR CONVERTING THE QUALIFYING PROPERTY AS
AFFORDABLE HOUSING UNDER EITHER SUBSECTION (2)(a)(I), (2)(a)(II), OR
(2)(a)(III) OF THIS SECTION IF THE QUALIFYING PROPERTY IS SOLD TO THE
THIRD-PARTY BUYER;
(II) THE THIRD-PARTY BUYER SHALL ENTER INTO AN AGREEMENT WITH
THE LOCAL GOVERNMENT THAT THE THIRD-PARTY BUYER SHALL PRESERVE OR
CONVERT THE QUALIFYING PROPERTY AS AFFORDABLE HOUSING UNDER EITHER
SUBSECTION (2)(a)(I), (2)(a)(II), OR (2)(a)(III) OF THIS SECTION IF THE
QUALIFYING PROPERTY IS SOLD TO THE THIRD-PARTY BUYER AND FOR ANY
OTHER TERMS TO WHICH THE THIRD-PARTY BUYER AND THE LOCAL GOVERNMENT
AGREE. IF, AFTER THE SALE OF THE QUALIFYING PROPERTY TO THE THIRD-PARTY
BUYER, THE THIRD-PARTY BUYER FAILS TO COMPLY WITH THE TERMS OF THE
AGREEMENT, THE THIRD-PARTY BUYER SHALL BE HELD LIABLE AND SUBJECT TO
ANY REMEDIES AND ENFORCEMENT UNDER THE AGREEMENT PURSUANT TO
SECTION 29-4-1205 OR UNDER ANY OTHER APPLICABLE LAW.
(III) THE THIRD-PARTY BUYER SHALL CERTIFY ITS COMPLIANCE WITH
THIS SUBSECTION (2) AT LEAST ONCE EVERY TWO YEARS BY SUBMITTING
DOCUMENTATION TO THE LOCAL GOVERNMENT IN A FORM AND MANNER DEEMED
ACCEPTABLE BY THE LOCAL GOVERNMENT.
(c) THE WAIVER PROVIDED UNDER THIS SUBSECTION (2) IS ONLY
EFFECTIVE FOR THE SALE TO THE THIRD-PARTY BUYER IDENTIFIED IN THE NOTICE
REQUIRED BY SUBSECTION (2)(b)(I) OF THIS SECTION, AND IF THE SALE TO THE
THIRD-PARTY BUYER DOES NOT OCCUR THEN THE WAIVER IS VOID AND THE
LOCAL GOVERNMENT IS ENTITLED TO ALL THE RIGHTS PROVIDED UNDER THIS
PART 12.".
Page 21, line 20, strike "(2)(b)," and substitute "(2),".
Amendment No. 8(L.069), by Senator Priola.
Amend reengrossed bill, page 8, after line 13 insert:
"(f) A LOCAL GOVERNMENT THAT HAS NOT FULLY DISCLAIMED ALL
RIGHTS UNDER THIS PART 12 PURSUANT TO SECTION 29-4-1203 (2)(a), SHALL
POST A NOTICE IN A CONSPICUOUS LOCATION ON ITS WEBSITE THAT INFORMS
RESIDENTIAL SELLERS THAT QUALIFYING PROPERTIES, IF SOLD, MAY BE SUBJECT
TO A RIGHT OF FIRST REFUSAL FOR PURCHASE BY THE LOCAL GOVERNMENT AT A
PRICE AGREED UPON BY THE RESIDENTIAL SELLER.".
Amendment No. 9(L.064), by Senator Roberts.
Amend reengrossed bill, page 14, line 20, after "PROPERTY." insert "THE
AGREEMENT MAY INCLUDE, AT THE RESIDENTIAL SELLER'S OPTION, A PROVISION
THAT REQUIRES THE LOCAL GOVERNMENT TO BE LIABLE TO THE RESIDENTIAL
SELLER FOR THE FAIR MARKET VALUE OF ANY LOST BENEFIT OF THE QUALIFYING
PROPERTY THAT IS CAUSED BY THE LOCAL GOVERNMENT MATERIALLY
BREACHING OR DEFAULTING ON THE AGREEMENT IN A MANNER THAT IS NOT
CURED BY THE LOCAL GOVERNMENT UNDER THE TERMS OF THE AGREEMENT AND
IN A MANNER THAT ALLOWS THE RESIDENTIAL SELLER TO TERMINATE THE
AGREEMENT.".
Amendment No. 10(L.074), by Senator Lundeen.
Amend reengrossed bill, page 10, line 8, after "CHANGE." add "FOR PURPOSES
OF THIS SUBSECTION (2)(c), A MATERIAL CHANGE OCCURS IF THE SALE PRICE OF
A QUALIFYING PROPERTY CHANGES BY AT LEAST NINETY PERCENT FROM THE
SALE PRICE THAT WAS PREVIOUSLY PROVIDED IN ANY NOTICE THE RESIDENTIAL
SELLER IS REQUIRED TO PROVIDE TO THE LOCAL GOVERNMENT PURSUANT TO THIS
SECTION.".
Amendment No. 11(L.079), by Senator Kirkmeyer.
Amend reengrossed bill, page 7, line 19, strike "THE STATE,".
Page 7, strike line 20 and substitute "A HOUSING AUTHORITY THAT IS WITHIN THE
LOCAL GOVERNMENT'S JURISDICTION, A REGIONAL HOUSING AUTHORITY THAT
SERVES THE LOCAL GOVERNMENT'S JURISDICTION, OR".
As amended, ordered revised and placed on the calendar for third reading and final
passage.
Senate Journal, May 7
HB23-1190 by Representative(s) Boesenecker and Sirota; also Senator(s) Winter F. and Jaquez Lewis--
Concerning a right of first refusal to purchase qualifying multifamily residential property by
a local government.
A majority of those elected to the Senate having voted in the affirmative, Senator Winter
was given permission to offer a third reading amendment.
Third Reading Amendment No. 1(L.080), by Senator Winter.
Amend revised bill, page 8, line 19, strike "(2)(a)" and substitute "(3)".
Page 21, line 3, strike "(3)(a)(III)," and substitute "(3)(a)(III) AND THE WAIVER
SET FORTH IN SUBSECTION (3) OF THIS SECTION,".
Page 22, after line 22 insert:
"(3) IN ADDITION TO NOT RESPONDING TO A RESIDENTIAL SELLER'S
NOTICE AS SET FORTH IN SECTION 29-4-1202 (3)(a)(III) AND THE WAIVER SET
FORTH IN SUBSECTION (2) OF THIS SECTION, THE LOCAL GOVERNMENT MAY ALSO
WAIVE ITS RIGHTS UNDER THIS PART 12 IF THE GOVERNING BODY OF THE LOCAL
GOVERNMENT ELECTS TO DISCLAIM ANY RIGHTS PROVIDED UNDER THIS PART 12
WITH RESPECT TO ANY PROPOSED TRANSACTION OR FOR ANY DURATION OF
TIME.".
Page 24, lines 24 and 25, strike "GOVERNMENT IN THE JURISDICTION THE
QUALIFYING PROPERTY IS LOCATED," and substitute "GOVERNMENT,".
The amendment was passed on the following roll call vote:
YES 35 NO 0 EXCUSED 0 ABSENT 0
Baisley Y Ginal Y Marchman Y Simpson Y
Bridges Y Gonzales Y Moreno Y Smallwood Y
Buckner Y Hansen Y Mullica Y Sullivan Y
Coleman Y Hinrichsen Y Pelton B. Y Van Winkle Y
Cutter Y Jaquez Y Pelton R. Y Will Y
Danielson Y Kirkmeyer Y Priola Y Winter F. Y
Exum Y Kolker Y Rich Y Zenzinger Y
Fields Y Liston Y Roberts Y President Y
Gardner Y Lundeen Y Rodriguez Y
A majority of those elected to the Senate having voted in the affirmative, Senator
Smallwood was given permission to offer a third reading amendment.
Third Reading Amendment No. 2(L.081), by Senator Winter.
Amend revsed bill, page 19, strike lines 3 through 5 and substitute:
"(a) MADE TO A FAMILY MEMBER, AS DEFINED IN SECTION 8-13.3-503
(11), OF THE RESIDENTIAL SELLER;".
The amendment was passed on the following roll call vote:
YES 35 NO 0 EXCUSED 0 ABSENT 0
Baisley Y Ginal Y Marchman Y Simpson Y
Bridges Y Gonzales Y Moreno Y Smallwood Y
Buckner Y Hansen Y Mullica Y Sullivan Y
Coleman Y Hinrichsen Y Pelton B. Y Van Winkle Y
Cutter Y Jaquez Y Pelton R. Y Will Y
Danielson Y Kirkmeyer Y Priola Y Winter F. Y
Exum Y Kolker Y Rich Y Zenzinger Y
Fields Y Liston Y Roberts Y President Y
Gardner Y Lundeen Y Rodriguez Y
The question being "Shall the bill, as amended, pass?", the roll call was taken with the
following result:
YES 19 NO 16 EXCUSED 0 ABSENT 0
Baisley N Ginal N Marchman Y Simpson N
Bridges Y Gonzales Y Moreno Y Smallwood N
Buckner Y Hansen Y Mullica N Sullivan Y
Coleman Y Hinrichsen Y Pelton B. N Van Winkle N
Cutter Y Jaquez Y Pelton R. N Will N
Danielson Y Kirkmeyer N Priola Y Winter F. Y
Exum Y Kolker Y Rich N Zenzinger N
Fields Y Liston N Roberts Y President Y
Gardner N Lundeen N Rodriguez N