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h_bus_2017a_2017-04-27t13:35:16z4 Hearing Summary

Date: 04/27/2017

Location: LSB A

Final

BILL SUMMARY for HB17-1358



HOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR


Votes: View--> Action Taken:
Postpone House Bill 17-1358 indefinitely. The moti

Refer House Bill 17-1358 to the Committee of the W
PASS

FAIL







03:01 PM



The committee took a brief recess.



03:03 PM



The committee reconvened.



03:03 PM -- HB17-1358



Representative Rosenthal introduced House Bill 17-1358. Before the closing of a real estate transaction that includes a broker's service, the bill requires that the amount of any fee, commission, or other charge paid to a broker be set forth in writing and accounted for in a contract or contemporaneous document furnished to all parties. The required disclosures must include the identity of the parties paying compensation to a broker an the amounts payable by each party. The bill also requires that whenever a broker advertises his or her services in connection with a specific property, the broker must disclose his or her fees, or the basis for calculating the fees.



Representative Rosenthal responded to questions from the committee.



03:09 PM --
Jacob Pridgen, representing himself, testified in support of the bill.



03:13 PM --
David Hosea, representing himself, testified in support of the bill.



03:16 PM --
Scott Peterson, Colorado Association of Realtors, testified in opposition to the bill.



03:20 PM



Mr. Hosea, Mr. Peterson, and Representative Rosenthal responded to questions from the committee.



03:32 PM --
Paul Franke, the Commercial Real Estate Development Association (NAIOP), testified in opposition to the bill.



03:36 PM --
Joshua Hunt, Trelora, testified in support of the bill. Mr. Hunt responded to questions from the committee.



03:45 PM --
Jane Bill, Colorado Association of Mortgage Professionals, testified in opposition to the bill.



03:47 PM



Representative Rosenthal and committee members made closing remarks.

BILL: HB17-1358
TIME: 03:48:34 PM
MOVED: Rosenthal
MOTION: Refer House Bill 17-1358 to the Committee of the Whole. The motion failed on a vote of 2-11.
SECONDED: Winter
VOTE
Arndt
No
Coleman
No
Garnett
No
Gray
No
Navarro
No
Nordberg
No
Rosenthal
Yes
Sias
No
Thurlow
No
Van Winkle
No
Williams D.
No
Winter
Yes
Kraft-Tharp
No
YES: 2 NO: 11 EXC: 0 ABS: 0 FINAL ACTION: FAIL


BILL: HB17-1358
TIME: 03:49:46 PM
MOVED: Winter
MOTION: Postpone House Bill 17-1358 indefinitely. The motion passed on a vote of 12-1.
SECONDED: Williams D.
VOTE
Arndt
Yes
Coleman
Yes
Garnett
Yes
Gray
Yes
Navarro
Yes
Nordberg
Yes
Rosenthal
No
Sias
Yes
Thurlow
Yes
Van Winkle
Yes
Williams D.
Yes
Winter
Yes
Kraft-Tharp
Yes
Final YES: 12 NO: 1 EXC: 0 ABS: 0 FINAL ACTION: PASS














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