First Regular Session
               Seventieth General Assembly
                    STATE OF COLORADO
                                                 INTRODUCED
                                                           
                                                           
 LLS NO. 15-0510.01 Bob Lackner x4350    SENATE BILL 15-079
                   SENATE SPONSORSHIP
 Ulibarri, 
 
                    HOUSE SPONSORSHIP
 (None),
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Senate Committees
 House Committees
 
 
 State, Veterans, & Military Affairs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                         A BILL FOR AN ACT
       Concerning modifications to the document recording fee
            imposed by counties for the purpose of financing a
            statewide affordable housing investment fund.
       
       
                           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.)
       
            Section 1 of the bill raises to $2 the surcharge to be imposed by
       each county clerk and recorder (clerk) for each document received for
       recording or filing in his or her office on or after July 1, 2015. The
       surcharge is in addition to any other fees permitted by statute.
            Out of each $2 collected, the bill requires the clerk to retain one
       dollar to be used to defray the costs of an electronic or core filing system
       in accordance with existing law. The bill requires the clerk to transmit the
       other dollar collected to the state treasurer, who is to credit the same to
       the statewide affordable housing investment fund (fund).
            Section 2 of the bill creates the fund in the Colorado housing and
       finance authority (authority). The bill specifies the source of moneys to
       be deposited into the fund and that the authority is to administer the fund.
       Moneys in the fund are to be expended by the authority for the
       development and preservation of affordable housing on a statewide basis.
            Section 2 of the bill also requires the authority to submit a report,
       no later than June 1 of each year, specifying the use of the fund during the
       prior calendar year to the governor and to the senate and house finance
       committees.
       
       
       
       Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1.  In Colorado Revised Statutes, 30-10-421, amend
       (1) (b); and add (1) (b.5) as follows:
            30-10-421.  Filing surcharge - definitions. (1) (b)  Beginning July
       1, 2004, and through June 30, 2017  June 30, 2015, the county clerk and
       recorder shall collect a surcharge of one dollar for each document
       received for recording or filing in his or her office. The surcharge shall
       be is in addition to any other fees permitted by statute.
            (b.5) (I)  Beginning July 1, 2015, and through June 30, 2024,
       the county clerk and recorder shall collect a surcharge of
       two dollars for each document received for recording or filing
       in his or her office. The surcharge is in addition to any other fees
       permitted by statute.
            (II)  Of the two-dollar surcharge collected by the county
       clerk and recorder pursuant to subparagraph (I) of this
       paragraph (b.5), the clerk shall retain one dollar to be used to
       defray the costs of the items specified in paragraph (b) of
       subsection (3) of this section. The clerk shall transmit the other
       dollar collected to the state treasurer, who shall credit the
       same to the statewide affordable housing investment fund
       created in section 29-4-736 (1), C.R.S.
            SECTION 2.  In Colorado Revised Statutes, add 29-4-736 as
       follows:
            29-4-736.  Statewide affordable housing investment fund - uses
       - administration - report. (1)  There is hereby created in the
       authority the statewide affordable housing investment fund,
       referred to in this section as the "fund". The authority shall
       deposit into the fund:
            (a)  Any moneys appropriated and made available by the
       state for purposes of the fund;
            (b)  Any moneys transmitted by the county clerk and
       recorders to the state treasurer for deposit into the fund in
       accordance with the provisions of section 30-10-421, C.R.S.; and
            (c)  Any moneys that may be made available to the
       authority from any other sources for the purposes of such fund.
            (2)  The authority is to administer the fund.
            (3)  Moneys in the fund must be expended by the authority
       for the development and preservation of affordable housing on
       a statewide basis.
            (4)  Not later than June 1, 2016, and not later than June 1
       of each year thereafter, the authority shall submit a report
       specifying the use of the fund during the prior calendar year to
       the governor and to the finance committees of the senate and
       house of representatives, or any successor committees.
            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.