A bill aimed at reviving Colorado’s condo market by addressing construction defects won preliminary approval from the House after numerous amendments were proposed by both supporters and opponents of the measure. House Bill 1272 requires a third-party inspector to monitor construction, with the builder responsible for addressing identified issues. The bill also outlines a process for homeowners to file claims and for builders to respond. Additional amendments were made, including changes to statute of limitations and homeowners’ association requirements.
Sponsors Rep. Shannon Bird and Rep. Andrew Boesenecker emphasized the importance of fair and balanced reforms to ensure high-quality homes are built and problems are fixed. The bill aims to reduce costs that deter development and increase the ability for homeowners to build equity and financial security through home ownership.
Lawmakers from both sides of the aisle showed support for the bill, highlighting the need for a compromise that considers both the needs of the market and the rights of homeowners. The bill received widespread approval during the voice vote, with a final vote expected soon.
The passage of this bill is seen as a critical step towards addressing issues in the construction market and promoting affordable home ownership. While some opposition was raised regarding the implications of the bill, the overall reaction has been positive with hopes for further progress in the future.
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