Current law states that, with certain exceptions, a unit owners' association (association) of a common interest community (community) may regulate the use of common elements of the community (common elements). The act states that, in regulating the use of common elements, an association shall preserve and protect unit owners' ability to use and enjoy common elements and shall not unreasonably restrict or prohibit unit owners' access to, or enjoyment of, any common element. During maintenance, repair, replacement, or modification of a common element, an association may restrict or prohibit unit owners' access to, and enjoyment of, a common element only to the extent and for the length of time necessary to: Protect the safety of any individuals, including unit owners and individuals performing the maintenance, repair, replacement, or modification of the common element; or Preserve the structural integrity or condition of a repair, replacement, or modification. If an association must restrict or prohibit unit owners' access to one or more common elements for more than 72 hours, the association shall provide an electronic or written notice to each unit owner and post a visible, clearly legible notice at each physical access point to the common element, which notice includes: A simple explanation of the reason for the restriction or prohibition; An indication of the estimated time or date upon which the restriction or prohibition will no longer exist; and A telephone number or e-mail address whereby a unit owner may pose questions or concerns about the restriction or prohibition for the consideration of the association.(Note: This summary applies to this bill as enacted.)
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The act increases, from 10% to 100%, the amount of tuition revenues that a governing board of an institution of higher education or group of institutions of higher education designated as an enterprise may pledge in a contract for the advancement of money. If an institution of higher education issues a revenue bond and the governing board of the institution wants the bond to be an intercept bond, the act raises the amount of the pledged revenue for the new intercept bond from not less than 10% of tuition to not less than 100% of tuition if the institution is an enterprise. (Note: This summary applies to this bill as enacted.)
Current law requires a county property tax assessor to send a notice of valuation of personal property to the operator of each wellsite, or if there is no operator, to the owner who has filed a statutorily required statement with the assessor. The act: States that oil and gas fractional interest owners are not entitled to separate valuation, notification, review, audit, protest, abatement, or appeal procedures by the assessor; and Designates the operator of each wellsite, or if there is no operator, the owner who filed the statement, as the representative of all fractional interest owners and as the exclusive point of contact for the assessor for all notification, review, audit, protest, abatement, and appeal procedures.(Note: This summary applies to this bill as enacted.)
One of the mechanisms for refunding state revenues in excess of the state fiscal year spending limit imposed by the Taxpayer's Bill of Rights (TABOR) is a temporary income tax rate reduction. For any state fiscal year commencing on or after July 1, 2022, the bill makes this income tax rate reduction permanent and establishes the reduction as always equaling a .05% reduction of the current income tax rate. Thus, under the bill, every year when the executive director of the department of revenue determines it is necessary to reduce the state income tax, both the individual state income tax rate and the corporate tax rate are permanently reduced by .05%. The bill exempts the state income tax rate and corporate tax rate reduction in the bill from the otherwise required tax preference performance statement and repeal date. (Note: This summary applies to this bill as introduced.)
Current law requires the prescription drug monitoring program (program) to track all controlled substances prescribed in Colorado. The act requires the state board of pharmacy (board) to determine if the program should track all prescription drugs prescribed in this state. If the board determines that all drugs should be tracked, the act requires the board to promulgate rules to include all prescription drugs in the program. If the board determines that one or more drugs should not be tracked through the program, the act requires the board to publicly note the justification for the exclusions.$61,118 is appropriated from the prescription drug monitoring fund to the department of regulatory agencies for use by the division of professions and occupations to implement the act.(Note: This summary applies to this bill as enacted.)
Commencing in 2021, and every year thereafter as part of the presentation by the department of local affairs (DOLA) to its legislative oversight committees in connection with its "State Measurement for Accountable, Responsive, and Transparent (SMART) Government Act" hearing, the act requires the division of housing (division) in DOLA to prepare a public report that specifies the total amount of money that:The division or the state housing board (board) was appropriated, awarded, allocated, or transferred from any federal, state, other public, or any private source during the prior fiscal year that may be used for the preservation or production of emergency or affordable housing; The division or the board has awarded from any federal, state, other public, or any private source during the prior fiscal year that may be used for the preservation or production of emergency or affordable housing; and The division or the board expended from state funding during the prior fiscal year on administrative costs associated with each funding source and the number of full-time employees supported by the funding source. The act identifies various items the report must address. The report must be posted on the division's website and shared with the board as well as DOLA's legislative oversight committees as part of its SMART Government Act hearing.(Note: This summary applies to this bill as enacted.)
The act directs the state board of education (state board) to review, during a recurring interval specified in the act, standards relating to the knowledge and skills that a student should acquire in school to ensure that the financial literacy standards for ninth through twelfth grade include an understanding of the costs associated with obtaining a postsecondary degree or credential and how to budget for and manage the payment for those costs, including managing student loan debt and accessing student aid through completion of the free application for federal student aid (FAFSA) and the Colorado application for state financial aid (CASFA); understanding credit cards and credit card debt; understanding homeownership and mortgages; and understanding retirement plans, including investments and retirement benefits.The act adds to the resources contained in the existing financial literacy resource bank created and maintained by the state board specific references relating to assessing the affordability of higher education and how to budget and pay for higher education, as well as how to manage student loan debt; understanding the purpose of and how to access and complete the FAFSA or CASFA; understanding credit cards and credit card debt; understanding the home buying process, including home loans and managing mortgage debt; and understanding retirement plans, including investments and retirement benefits.The act adds assessing the affordability of higher education and how to budget and pay for higher education, as well as how to manage student loan debt to the suggested financial literacy curriculum that a school district is encouraged to adopt. Further, the act requires school districts and charter schools, as part of the process of establishing the individual career and academic plan for a student in grades 9 through 12, to inform the student and the student's parents of the importance of completing the FAFSA and CASFA and to provide help in completing the forms, if requested.(Note: This summary applies to this bill as enacted.)
The act continues the prescription drug monitoring program (program) indefinitely.Additionally, the act:Authorizes the state board of pharmacy (board) to promulgate rules that identify a list of prescription drugs that are not currently listed as controlled substances and require such drugs to be tracked through the program; Authorizes each coroner to authorize deputy coroners to access the program; Authorizes the board to create a data retention schedule for information obtained and stored by the program; Eliminates the requirements that the board seek gifts, grants, and donations in order to maintain the program and report annually to committees of reference of the general assembly on the gifts, grants, and donations; and Makes a technical change to remove a reference to the department of health care policy and financing from the statute as that department does not have access to the program.(Note: This summary applies to this bill as enacted.)