HOUSE
                       3rd Reading Unamended
       April 28, 2015          HOUSE
       Amended 2nd Reading
                      April 23, 2015First Regular Session
               Seventieth General Assembly
                    STATE OF COLORADO
                                                REENGROSSED
                       This Version Includes All Amendments
                       Adopted in the House of Introduction
 LLS NO. 15-1083.01 Jennifer Berman x3286HOUSE BILL 15-1362
                    HOUSE SPONSORSHIP
 Melton, 
 
                   SENATE SPONSORSHIP
 Carroll, 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 House Committees
 Senate Committees
 
 
 Business Affairs and Labor
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                         A BILL FOR AN ACT
       Concerning a requirement that the executive board of a
            common interest community created in Colorado
            before July 1, 1992, comply with the budget reporting
            provision of the "Colorado Common Interest
            Ownership Act". 
       
       
                           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.)
       
            Common interest communities created before the July 1, 1992,
       enactment of the "Colorado Common Interest Ownership Act" (Act) are
       exempt from many of the Act's provisions, including a provision requiring
       a common interest community's executive board to give notice to all unit
       owners of, and hold a meeting about, the executive board's adoption of a
       new proposed budget. The bill requires common interest communities
       that predate the Act to comply with the budget reporting provision. 
       
       
       
       Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1.  In Colorado Revised Statutes, 38-33.3-117, amend
       (1.5) (h) as follows:
            38-33.3-117.  Applicability to preexisting common interest
       communities. (1.5)  Except as provided in section 38-33.3-119, the
       following sections apply to all common interest communities created
       within this state before July 1, 1992, with respect to events and
       circumstances occurring on or after January 1, 2006:
            (h)  38-33.3-303 (1) (b), (3) (b), and (4) (b) (1) (b), (3) (b), (4) (a),
       and (4) (b);
            SECTION 2.  Act subject to petition - effective date -
       applicability. (1)  This act takes effect July 1, 2017; 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 the ninety-day period after final adjournment of the general
       assembly, then the act, item, section, or part will not take effect unless
       approved by the people at the general election to be held in November
       2016 and, in such case, will take effect on July 1, 2017.
            (2)  This act applies to budgets adopted by a common interest
       community's executive board on or after the applicable effective date of
       this act.