h_bus_2016a_2016-02-16t13:32:45z0 Hearing Summary

Date: 02/16/2016

01:33 PM -- HB 16-1145



Representative Lebsock, sponsor, introduced House Bill 16-1145 to the committee. The bill clarifies that the filing fee for a residential real property conveyance is calculated based on the total sales price, as listed on the conveyance document. If there is no amount listed, or the amount is less than $500 and there is related documentation, then the total sales price on the declaration form is used to determine the filing fee. The bill also stipulates that, for the purposes of determining a filing fee, a property is assumed to be residential property unless otherwise indicated as either commercial or industrial property. Filing fees for commercial or industrial conveyance documents are determined by the total sales price adjusted to account for other personal property included in the real estate transaction).



Representative Lebsock provided the committee with a handout (Attachment A) and a copy of amendment L.001 (Attachment B).



160216 AttachA.pdf160216 AttachB.pdf



01:36 PM -- Don Booher, representing the Land Title Association of Colorado, the Colorado Mortgage Lenders Association, the Colorado Bankers Association, and the Independent Bankers of Colorado, testified in support of the bill. Mr. Booher responded to questions from the committee.



01:40 PM -- Ted Leighty, Colorado Association of Realtors, testified in support of the bill. Mr. Leighty responded to questions from the committee.



01:42 PM -- Debra Johnson, Denver County Clerk and Recorder and representing the Colorado County Clerks Association (CCCA), testified in support of the bill. Ms. Johnson responded to questions from the committee.



01:45 PM -- Lisa Frizell, Colorado Assessors' Association, testified in support of the bill.



01:47 PM



Representative Lebsock discussed amendment L.001 with the committee.

01:49 PM



Representative Lebsock made closing remarks.