Late last month, we told you about an important bill introduced in the Colorado General Assembly. The bill had passed in the Colorado House of Representatives, and was headed for the Senate. It was drafted to address the sharp decrease in condominium construction in this state, caused by developers’ fear of construction defect claims brought by condominium homeowners’ associations. A description of the bill can be found in our original client alert here.
An update: The bill has become law. The Senate passed HB 1279 on May 4, and sent it to the Governor’s desk for signature. Governor Hickenlooper signed it Tuesday, May 23, amid celebration from legislators and reform advocates. As we noted last month, the bill “is not a complete ‘fix’ for the condominium construction issues, if such a fix even exists,” but it is widely considered a good first step.