NOTE: The governor signed this measure on 6/5/2013.
      
      
      HOUSE BILL 13-1235
      
      
      BY REPRESENTATIVE(S) Szabo, Fischer, Vigil, Buckner, Conti, Coram,
      Court, DelGrosso, Dore, Fields, Garcia, Gardner, Gerou, Hamner, Holbert,
      Hullinghorst, Joshi, Labuda, Landgraf, Lawrence, Melton, Mitsch Bush,
      Moreno, Navarro, Nordberg, Pabon, Priola, Rankin, Ryden, Saine, Schafer,
      Singer, Sonnenberg, Stephens, Swalm, Tyler, Waller, Williams, Wilson,
      Wright, Young, Ferrandino, McLachlan, Pettersen, Scott;
      also SENATOR(S) Baumgardner, Giron, Schwartz.
      
      
      Concerning requirements related to the valuation of real
           property prior to a state agency entering into contracts
           related to such real property.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 24-30-202, amend (5)
      (b); and add (5) (c) as follows:
      
           24-30-202.  Procedures - vouchers and warrants - rules -
      penalties. (5) (b)  Before any state department, institution, or agency enters
      into any option or agreement to purchase any real property or any interest
      therein that has a total purchase price of more than one hundred thousand
      dollars, such department, institution, or agency shall contract with at least
      one but not more than three independent appraisers for an estimate of the
      value of such property. Such appraiser shall be qualified with respect to the
      subject matter of the appraisal and shall be instructed to determine the fair
      market value of the real property by using sound, fair, and recognized
      appraisal practices which are consistent with the laws of Colorado. One
      copy of each such appraisal shall be attached to the option or contract for
      said purchase prior to the controller's approving the option or contract. If a
      state department, institution, or agency enters into a contract to
      purchase real property or any interest therein that has a total
      purchase price of more than one hundred thousand dollars, the
      contract must contain a contingency clause that requires the
      state to secure an appraisal of the subject real property or
      interest therein prior to closing by an independent appraiser
      licensed in the state of Colorado to substantiate the purchase
      price and that makes the closing of the purchase contingent on
      the approval of the contract by the state controller. When the
      state department, institution, or agency entering into the
      contract receives the appraisal, the state department, institution,
      or agency shall provide a copy of the appraisal to the state
      controller. This paragraph (b) shall not apply to the acquisition of
      property by the department of transportation for the construction,
      maintenance, or supervision of the public highways of this state, nor shall
      it apply to any additional lease-purchase agreement entered into pursuant to
      the master lease program authorized by part 7 of article 82 of this title.
      
           (c) (I)  If a state department, institution, or agency enters
      into an option to purchase real property or any interest therein
      that has a total purchase price of more than one hundred
      thousand dollars, the appraisal requirement described in
      paragraph (b) of this subsection (5) must occur prior to closing on
      the purchase of the real property or interest therein.
      
           (II)  Prior to a state department, institution, or agency
      entering into an option to purchase real property or any interest
      therein that has a total purchase price of more than one hundred
      thousand dollars, the state department, institution, or agency
      shall obtain a written broker opinion of value completed by an
      independent broker licensed in the state of Colorado or an
      appraisal by an independent appraiser licensed in the state of
      Colorado of the subject property in order to complete a thorough
      analysis of the property or interests therein being considered. The
      opinion of value or the appraisal must be forwarded to the state
      controller prior to the state controller approving the option to
      purchase contract.
      
           SECTION 2.  Applicability. This act applies to all contracts to
      purchase real property or any interest therein and all options to purchase
      real property or any interest therein, entered into by a state department,
      institution, or agency on or after the effective date of this act.
      
           SECTION 3.  Safety clause. The general assembly hereby finds,
      determines, and declares that this act is necessary for the immediate
      preservation of the public peace, health, and safety.
      
      
      
      
      ________________________________________________________
      Mark Ferrandino                         John P. Morse
      SPEAKER OF THE HOUSE                     PRESIDENT OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
      
      
      ____________________________  ____________________________
      Marilyn Eddins                      Cindi L. Markwell
      CHIEF CLERK OF THE HOUSE                 SECRETARY OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO