Date: 02/10/2009

Final
BILL SUMMARY for HB09-1197

HOUSE COMMITTEE ON LOCAL GOVERNMENT

Votes: View--> Action Taken:
Moved amendment L.001 (Attachment A). The motion
Moved conceptual amendment on Page 2, line 17, aft
Moved conceptual amendment on Page 3, line 24, str
Moved to refer House Bill 09-1197, as amended, to 		Pass Without Objection
Pass Without Objection
Pass Without Objection
PASS


02:29 PM -- House Bill 09-1197

Representative McNulty, prime sponsor, presented House Bill 09-1197, concerning a requirement that the Division of Housing report data regarding home foreclosures in the state. He explained that the bill requires the Division of Housing in the Department of Local Affairs to collect and compile home foreclosure data from each county in the state and to issue a quarterly report. He explained that the report would be the official foreclosure data for the state and used when citing state foreclosure statistics. Representative McNulty addressed questions concerning current reporting by the state and the sunset provision in the bill. He explained that the state currently compiles a statewide report from county trustees, but that the bill would provide official foreclosure data and statistics for the state report.

02:38 PM

Sunny Banka, representing the Colorado Association of Realtors, testified in support of the bill and talked about problems with third party reporting entities that are creating inaccuracies in foreclosure reports. Ms. Banka discussed the need to have a central reporting source through the Division of Housing and addressed questions concerning the collection of foreclosure statistics collected by third party reporting entities from county trustees.

02:41 PM

Barbara Walker, representing the Independent Bankers of Colorado, testified in support of the bill and explained the need for banks to refer to official statistics that are compiled by the state.

02:43 PM

Carol Snyder, representing the Colorado Public Trustees Association, testified in support of the bill and explained that the Colorado public trustee system provides for neutral mediation between lenders and borrowers, which is a unique system in the country. She explained that foreclosures are completed through the judicial systems or private trustees in other states. Ms. Snyder talked about the reports that are currently provided to the Division of Housing and the process for county trustees to report foreclosures throughout the state. She talked about problems that counties may experience when reporting foreclosures and how inaccuracies in this information can weaken the real estate market. She explained that the bill would help clean up the process of reporting foreclosures and explained prepared Amendment L.001 (Attachment A).

02:55 PM

Fran Coleman, representing the Colorado Mortgage Lenders Association, testified in support of the bill and talked about the need for accurate accounting of foreclosures in the state for the lending industries. Ms. Coleman talked about problems with inaccuracies in foreclosure reporting and the need to have accurate statistics produced by the state. She discussed concerns with prepared amendment L.001 (Attachment A) with the committee members.

090210AttachA.pdf
BILL:HB09-1197
TIME: 03:01:15 PM
MOVED:Tipton
MOTION:Moved amendment L.001 (Attachment A). The motion passed without objection.
SECONDED:Acree
VOTE
Acree
Bradford
Liston
McKinley
Middleton
Schafer S.
Tipton
Vigil
Waller
Soper
Peniston
Not Final YES: 0 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: TIE


BILL:HB09-1197
TIME: 03:01:27 PM
MOVED:Soper
MOTION:Moved conceptual amendment on Page 2, line 17, after "QUARTER", insert "THE SAME QUARTER OF THE PREVIOUS YEAR,". (and throughout all similar provisions in the bill). The motion passed without objection.
SECONDED:Liston
VOTE
Acree
Bradford
Liston
McKinley
Middleton
Schafer S.
Tipton
Vigil
Waller
Soper
Peniston
Not Final YES: 0 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:HB09-1197
TIME: 03:03:33 PM
MOVED:Tipton
MOTION:Moved conceptual amendment on Page 3, line 24, strike "IN A MANNER TO BE DETERMINED BY THE" and, line 25, strike "DIVISION,". The motion passed without objection.
SECONDED:Middleton
VOTE
Acree
Bradford
Liston
McKinley
Middleton
Schafer S.
Tipton
Vigil
Waller
Soper
Peniston
Not Final YES: 0 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:HB09-1197
TIME: 03:04:37 PM
MOVED:Waller
MOTION:Moved to refer House Bill 09-1197, as amended, to the Committee of the Whole. The motion passed on a 11-0 vote.
SECONDED:Liston
VOTE
Acree
Yes
Bradford
Yes
Liston
Yes
McKinley
Yes
Middleton
Yes
Schafer S.
Yes
Tipton
Yes
Vigil
Yes
Waller
Yes
Soper
Yes
Peniston
Yes
Final YES: 11 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS