Second Regular Session Sixty-seventh General Assembly STATE OF COLORADO INTRODUCED LLS NO. 10-0433.01 Bob Lackner HOUSE BILL 10-1151 HOUSE SPONSORSHIP Swalm, McFadyen SENATE SPONSORSHIP Williams, House Committees Senate Committees Business Affairs and Labor A BILL FOR AN ACT Concerning the disclosure in connection with the sale of residential real property of its proximity to an airport. Bill Summary (Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://www.leg.state.co.us/billsummaries.) The bill requires the Colorado real estate commission, by rule, by January 1, 2011, to require each seller's property disclosure for residential real property that is subject to the commission's jurisdiction to disclose the proximity of the property to an airport, airpark, or military airfield. Under the bill, the requirement to provide such disclosure applies where the residential real property is located within 5 statute miles of the property boundary of an airport, airpark, or military airfield. The bill provides that the obligation to provide the required property disclosure is upon the seller. On or after January 1, 2011, each seller's property disclosure for residential real property shall contain a checkbox in substantially the same form as is specified in the bill. The bill provides that, if the seller completes the checkbox, the purchaser shall not have any claim for relief against the seller or any licensed real estate professional for any damages to the purchaser resulting from the fact that the residential real property is located within 5 statute miles of the property boundary of an airport, airpark, or military airfield. The bill specifies that nothing in its provisions shall affect any remedy that the purchaser may otherwise have against the seller. Be it enacted by the General Assembly of the State of Colorado: SECTION 1. Article 35.7 of title 38, Colorado Revised Statutes, is amended BY THE ADDITION OF A NEW SECTION to read: 38-35.7-107. Disclosure - proximity to an airport, airpark, or military airfield - rules. (1) As used in this section, unless the context otherwise requires: (a) "Aircraft" means any FAA-certificated vehicle used or designed for aviation or flight in the air. (b) "Airport, airpark, or military airfield" means any facility that is publicly owned, operated, and open to and used by the public from which aircraft routinely operate including, without limitation, landing and taking off and all areas appurtenant to such facilities. (c) "Residential real property" means residential land and residential improvements, as those terms are defined in section 39-1-102, C.R.S., but does not include hotels and motels, as those terms are defined in section 39-1-102, C.R.S.; except that a mobile home and a manufactured home, as those terms are defined in section 39-1-102, C.R.S., shall be deemed to be residential real property only if the mobile home or manufactured home is permanently affixed to a foundation. (2) By January 1, 2011, the real estate commission created in section 12-61-105, C.R.S., shall, by rule, require each seller's property disclosure for residential real property that is subject to the commission's jurisdiction pursuant to article 61 of title 12, C.R.S., to disclose the proximity of the residential real property to an airport, airpark, or military airfield, which disclosure shall contain substantially the following information: THE RESIDENTIAL REAL PROPERTY IS LOCATED WITHIN FIVE STATUTE MILES OF THE PROPERTY BOUNDARY OF AN AIRPORT, AIRPARK, OR MILITARY AIRFIELD. (3) The obligation to provide the property disclosure set forth in subsection (2) of this section shall be upon the seller. On or after January 1, 2011, each seller's property disclosure for residential real property shall contain a checkbox in substantially the same form as is specified in subsection (2) of this section. If the seller completes the checkbox, the purchaser shall not have any claim under this section for relief against the seller or any person licensed pursuant to article 61 of title 12, C.R.S., for any damages to the purchaser resulting from the fact that the residential real property is located within five statute miles of the property boundary of an airport, airpark, or military airfield. Nothing in this section shall affect any remedy that the purchaser may otherwise have against the seller. SECTION 2. Act subject to petition - effective date. This act shall take effect at 12:01 a.m. on the day following the expiration of the ninety-day period after final adjournment of the general assembly (August 11, 2010, if adjournment sine die is on May 12, 2010); except that, if a referendum petition is filed pursuant to section 1 (3) of article V of the state constitution against this act or an item, section, or part of this act within such period, then the act, item, section, or part shall not take effect unless approved by the people at the general election to be held in November 2010 and shall take effect on the date of the official declaration of the vote thereon by the governor.