Bill Summary for Bill Number HB09-1197

Date: 03/05/2009

Final
BILL SUMMARY for HB09-1197

SENATE COMMITTEE ON LOCAL GOVERNMENT AND ENERGY

Votes: View-->	Action Taken:
Moved Amendment L. 002. The motion passed without Moved to refer HB 09-1197 to the Committee of the	Pass Without Objection PASS

10:06 AM -- House Bill 09-1197

Senator Harvey, sponsor, described the provisions of HB 09-1197 that requires the Division of Housing in the Department of Local Government to collect and compile home foreclosure data from each county in the state and to issue a quarterly report. The report is to be the official foreclosure data for the state and must be used when citing state foreclosure statistics. He described the current process for reporting foreclosures and the need for more timely and accurate information about this activity. He also responded to questions from the committee about problems associated with private organizations that provide foreclosure data and distributed Amendment L. 002 (Attachment A).

The following persons testified on the bill:

10:13 AM -- Carol Snyder, Colorado Public Trustees Association, described the role of public trustees in Colorado's foreclosure process and spoke in support of the bill. She also described how foreclosures are addressed in other states and responded to questions from the committee about the foreclosure process.

10:29 AM -- Chris, Hulbert, representing himself, spoke in support of the bill and described the challenge of reporting foreclosure data accurately and according to a standard format. He also described how foreclosure data is reported in other states.

10:33 AM -- Rachel Nance, Colorado Association of Realtors, spoke in support of the bill and described problems with the current foreclosure reporting requirements that may distort the public's perception of the number of foreclosures in Colorado.

10:35 AM -- Rachel Basye, Colorado Housing Finance Authority (CHFA), explained how CHFA uses foreclosure data that is reported by public trustees and commented on the bill and Amendment L. 002.


BILL:	HB09-1197
TIME:	10:42:44 AM
MOVED:	Newell
MOTION:	Moved to refer HB 09-1197 to the Committee of the Whole, as amended, and with a recommendation that it be added to the Consent Calendar. The motion passed on a vote of 7-0.
SECONDED:
		VOTE
	Cadman	Yes
	Hodge	Yes
	Kester	Yes
	Lundberg	Yes
	Newell	Yes
	Foster	Yes
	Schwartz	Yes

Final YES: 7 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS


BILL:	HB09-1197
TIME:	10:42:59 AM
MOVED:	Newell
MOTION:	Moved Amendment L. 002. The motion passed without objection.
SECONDED:
		VOTE
	Cadman
	Hodge
	Kester
	Lundberg
	Newell
	Foster
	Schwartz

Not Final YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection