The act modifies the "Revised Uniform Unclaimed Property Act" (RUUPA) as follows: Sections 1, 2, 6, and 7 clarify the treatment under RUUPA of legacy preneed contracts, which are preneed contracts for funeral services entered into before August 10, 2022; Sections 2, 3, and 8: Modify the definition of virtual currency; Specify that virtual currency is presumed abandoned 3 years after the latest indication of interest by its apparent owner; Require a holder of unclaimed property (holder) that is reporting unclaimed virtual currency to the state treasurer (administrator) to liquidate the virtual currency within 30 days of filing the report and remit the liquidation proceeds to the administrator unless the virtual currency cannot be liquidated, in which case the administrator may require the holder to transfer the virtual currency to an administrator-selected custodian or continue to hold the virtual currency until it can be liquidated or until an apparent owner expresses interest in it; and Specify that the owner of the virtual currency has no recourse against either the holder or the administrator for any gain in value of the virtual currency after liquidation; Section 4 modifies the circumstances under which a tax-deferred retirement account is presumed abandoned so that abandonment is presumed if the account is unclaimed by the apparent owner 3 years after it becomes payable or distributable if the owner has not accepted the distribution, corresponded in writing concerning the distribution, or otherwise indicated an interest as evidenced by a memorandum or other record on file with the fiduciary of the trust or custodial fund or the administrator of the plan under which the trust or fund is established; Section 5 shortens the period for which a holder required to file a report regarding property that is presumed abandoned must retain records from 10 to 6 years; Section 9 requires a holder that pays money to the administrator to file a claim for reimbursement from the administrator of the amount paid within 2 years of remitting and reporting the money paid; Section 10 reduces the amount of time after a duty of a holder arises that the administrator has to commence an action, proceeding, or examination with respect to the duty from 10 years to 6 years; Section 11 clarifies the authority of the administrator with respect to the sale or other disposition of unclaimed thinly traded securities; If the administrator determines that a county or a municipality owns unclaimed property in the possession of the administrator, section 12 authorizes the administrator to issue a warrant to or transfer the property to an operating account of the county or the municipality; Section 13 acknowledges that the administrator may require a person making a claim for unclaimed property to supply any documents, including nonpublic and nonredacted documents, that are necessary to prove ownership of the property; Section 14 reduces the maximum amount of compensation allowed to be paid under an agreement to recover or assist in recovering an unclaimed overbid transferred to the administrator from either 30% or 20% of the amount of the overbid depending on when the agreement is entered into to 10% of the amount of overbid without regard to when the agreement was entered into; Section 15 clarifies that unless another provision of RUUPA provides otherwise, all records, documents, and information submitted by a claimant to the administrator or the administrator's agent to enable the administrator or agent to determine whether the claimant is the owner of the property are confidential and exempt from public inspection or disclosure; and Section 16 repeals a statutory exemption from RUUPA for a local government that is a holder of property and satisfies specified conditions because few local governments have met the specified conditions.(Note: This summary applies to this bill as enacted.)
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Prior to taking enforcement actions to recover money owed to a unit owners' association (HOA) and related collection costs or attorney fees through the foreclosure of an association lien, the act requires the HOA to be in compliance with HOA lien or foreclosure laws (lien or foreclosure laws) and applicable lien or foreclosure provisions of the HOA's declaration, bylaws, articles, and rules and regulations (governing documents). If the HOA is not in compliance with the lien or foreclosure laws or the governing documents, the court may stay the foreclosure proceedings to grant the HOA reasonable time to come into compliance and shall consider the effect of the HOA's noncompliance if awarding the HOA attorney fees. For purposes of sending notices to unit owners relating to delinquent assessments or foreclosure actions, the HOA shall periodically request from a unit owner or the unit owner's designated contact an email address, a telephone number, and a cellular number for texts. An HOA's written policy concerning the collection of unpaid assessments must require the notice of deficiency that the HOA sends to a unit owner to include the following: An advisement that the unit owner may request a copy of the HOA's ledger verifying the amount owed, which copy of the ledger shall be sent to the unit owner no later than 7 business days after the request; An advisement that failure to pay a delinquent assessment could result in the HOA filing a lien and instituting foreclosure of the lien (foreclosure action) and that a foreclosure action could result in the sale of the unit at auction and the unit owner losing some or all of the unit owner's equity in the unit; and An advisement that free information relating to the HOA's collection of assessments and the HOA's ability to file a foreclosure action and a link to credit counseling information is available online through the HOA information and resource center (recourse center). At least 30 days prior to initiating a foreclosure action, the HOA must send notice of the HOA's intent to foreclose the association lien, including notice that the foreclosure of the lien will result in the sale of the unit at auction, which could result in the unit owner losing all or some equity in the unit; the unit owner may obtain credit counseling prior to foreclosure; and free online information relating to foreclosure by an HOA is available through the resource center. No later than 5 business days after the HOA initiates legal action to foreclose a lien and sell a unit at auction, the HOA shall provide the unit owner with notice that the unit owner has a right to cure the delinquency and to file a motion with the court to stay the sale of the property at auction. At any time after an HOA files an action for foreclosure of the HOA's lien on a unit, but prior to the date of auction, the unit owner may file a motion with the court to stay the auction of the unit to allow the unit owner to list the unit for sale at fair market value or at an alternate amount determined by the court. The court's order is in effect for 9 months after the date of the order. The court may extend the 9-month stay for good cause or upon proof that the sale of the unit is imminent. Proceeds from the sale will be held in escrow for the court to determine the distribution of the sale proceeds. As part of an HOA's annual registration (annual registration) with the director of the division of real estate in the department of regulatory agencies (director), an HOA shall submit the following information, which aggregated data must be included in the resource center's annual report: The number of unit owners 6 or more months delinquent in the payment of assessments during the preceding 12 month period; The number of judgments obtained against unit owners; The number of payment plans entered into with unit owners; and The number of foreclosure actions filed by the HOA and other information requested by the director.(Note: This summary applies to this bill as enacted.)
The act requires the state auditor to conduct or cause to be conducted performance audits (audits) of the air pollution control division in the department of public health and environment and the division of unemployment insurance in the department of labor and employment (divisions). The audits will determine whether each of the divisions effectively and efficiently performs and fulfills its statutory obligations. In addition, as part of the audits, the state auditor is required to: Determine whether a division complies with statute and its statutory purpose; Assess the impact of a division's processes on providing access to program benefits and, for the labor and employment division audit only, identify any division processes that may be unnecessary, unreasonable, or cause delays; Determine whether a division's staffing and funding levels are sufficient for it to efficiently and effectively perform its statutory duties and responsibilities, which, in for the air pollution control division audit only, must include assessment of how funding or staffing changes made at the state level might impact local governments; and Determine whether a division requested and was appropriated additional resources and whether the approval or denial of such a request impacted program implementation and timing of implementation. The initial audit of the air pollution control division must begin and be completed in calendar year 2026, with an additional audit occurring in calendar year 2031. The initial audit of the division of unemployment insurance must begin and be completed in calendar year 2027, with an additional audit occurring in calendar year 2032. Upon completion of an audit, the state auditor is required to submit a written audit report to the legislative audit committee. (Note: This summary applies to this bill as enacted.)
The act enacts the "Uniform Antitrust Pre-Merger Notification Act", drafted by the Uniform Law Commission. The act: Requires a person filing a pre-merger notification with the federal government under the federal "Hart-Scott-Rodino Act" that has its principal place of business in the state or directly or indirectly has annual net sales in the state of at least 20% of the filing threshold to contemporaneously file with the state attorney general complete electronic copies of the Hart-Scott-Rodino form and any additional documentary material that the person filed with the pre-merger notification; Requires the attorney general to keep the filed form and documentary material confidential, subject to specified exceptions; and Authorizes the attorney general to impose a civil penalty of not more than $10,000 per day of noncompliance on any person that fails to comply with the filing requirement. For the 2025-26 state fiscal year, the act appropriates $68,052 from the general fund to the department of law to implement the act. (Note: This summary applies to this bill as enacted.)
The act incorporates the federal "Uniform Code of Military Justice" (federal code) into the "Colorado Code of Military Justice" (state code), including specifically the punitive articles and general article of the federal code, which describe punishable offenses, and the statute of limitations that applies to charges brought pursuant to the state code. The act repeals sections of the state code that are duplicative of the incorporated federal code. Additionally, the act: Applies the state code to a member of the state military forces (member) at all times, except when the member is ordered to active federal service pursuant to title 10 of the United States Code; Clarifies a commanding officer's authority to impose nonjudicial punishment under the state code; Makes changes to the procedures that govern courts-martial, the punitive authority of courts-martial, and the review of the decisions of courts-martial; and If concurrent civilian and military jurisdiction exists over the same offense and a district attorney has filed felony charges against a member for the offense, requires the state military forces to defer felony prosecution of the member to the district attorney.(Note: This summary applies to this bill as enacted.)
The department of public health and environment (department) is required to conduct a study of capital needs for rural and frontier hospitals throughout the state (study). The rural and frontier hospital capital needs study task force (task force) is created and is required to oversee the study. The study must measure the number of studied facilities that are not compliant with current and relevant design and building code standards for health-care facilities, identify the age of core facilities and any additions to those facilities, and estimate the costs for renovating or replacing facilities identified as having capital needs. No later than 18 months after the first meeting of the task force, the department is required to complete the study and compile the results of the study into a report. The department is required to present the report to the respective health and human services committees of the senate and house of representatives. The task force is made up of the following 7 members who must be appointed no later than 2 months after sufficient funding has been secured for the implementation of the act: 3 members who work in rural or frontier hospitals; One member who is an architect professional; One member who is a construction contractor professional; One member who represents hospitals; and One member of the general public who lives in a rural area or frontier area. In addition to overseeing the study, the task force is responsible for developing and approving the parameters of the study and overseeing the department's report. The task force may also facilitate contracting with a private sector consulting company to assist with data compilation, research, and outreach to rural and frontier hospitals. The task force is required to hold its first meeting within 2 months of all appointments being made to the task force and meet at least quarterly after the first meeting until the study and the report are complete. The requirements imposed on the department, the task force, and any third party in connection with the study are contingent upon money being available through gifts, grants, or donations for the purpose of conducting the study. (Note: This summary applies to this bill as enacted.)
The act allows the director of the division of oil and public safety (division), on and after August 15, 2025, to impose a civil penalty of not more that $5,000 per day for the retail distribution of reformulated gasoline that violates the applicable fuel quality specification when the federal environmental protection agency (EPA) requires the sale of reformulated gasoline in a nonattainment area in the state. "Nonattainment area" is defined as an area of the state that the EPA has designated as being in nonattainment with a national ambient air quality standard. On or before August 15, 2025, the division is required to notify, through the division's email system, any owner of a gas station that is located in a nonattainment area of the penalty amount established by the act. (Note: This summary applies to this bill as enacted.)
The act creates an exception to the requirement that a member of the Colorado state patrol be bonded by a surety company or insured with third-party crime insurance if the Colorado state patrol is self-insured with the Colorado state office of risk management and is eligible to be compensated from the state self-insured property fund. (Note: This summary applies to this bill as enacted.)
The act creates the community schoolyards grant program (grant program) in the division of local government (division) within the department of local affairs (department). The grant program is a 2-part grant program that includes: The planning and design grant program (planning program), which awards up to $150,000 to each grant recipient selected by the division for the planning and design of a community schoolyard; and The capital construction and improvement grant program (construction program), which awards up to $850,000 to each grant recipient selected by the division for the capital construction of a community schoolyard. The purpose of the grant program is to address inequities in underserved and underfunded schools and communities, specifically communities socially or economically affected by the development, processing, or energy conversion of minerals and mineral fuels subject to taxation, by: Making community schoolyards accessible to the broader community outside of school hours; Improving physical activity and mental health opportunities for students and community members; and Incorporating natural landscapes, natural playgrounds, and recreational spaces that promote adaptation; sustainability; resilience; and hands-on learning across subject matters, including science, technology, engineering, arts, and mathematics. On or before January 15, 2026, the division shall implement a timeline for the planning program and the construction program (programs), which must include, at a minimum: Announcing each of the programs; Accepting applications from eligible applicants for each of the programs; Selecting the grant recipients for each of the programs; Distributing grant money to the grant recipients for each of the programs; and Establishing reporting timelines and requirements for each of the programs. On or before January 15, 2028, the division shall compile a report summarizing the grant recipient reports from the programs. The division shall submit the report to the education committees of the house of representatives and senate; the house of representatives transportation, housing, and local government committee; and the senate local government and housing committee, or their successor committees. For the 2025-26 and 2026-27 state fiscal years, the department shall use $4 million from the local government mineral impact fund or the local government severance tax fund for the grant program. The division may use up to 5% of the funds it receives for the grant program to pay for the direct and indirect costs of administering the grant program. The division may adopt rules to carry out the purposes of the grant program. The grant program is repealed, effective January 1, 2030. For the 2025-26 state fiscal year, $50,000 is appropriated to the department for use by the division from the reappropriated funds from the local government mineral impact fund and the local government severance tax fund. (Note: This summary applies to this bill as enacted.)
The act requires that, immediately after a railroad notifies the state's watch center in the department of public safety (watch center) of an emergency involving a train, the watch center must notify the public utilities commission (commission) and the office of rail safety (office) of the incident. The commission is required to submit a report to specified committees of the general assembly on the information reported by railroads regarding an emergency involving a train. A crew member of a train operated by a railroad may communicate with first responders during an emergency situation after notifying the railroad dispatch. A crew member has discretion in determining the appropriate response to the emergency situation, including cutting the railroad crossing. A railroad employee or a crew member is immune from civil liability and is not liable in civil damages for actions taken in good faith in the course of a response to an emergency situation involving a train. The act eliminates the shared authority that the commission, the department of public safety, and the department of transportation had to inspect and investigate railroads and grants the commission alone the authority to engage in inspection, investigation, and enforcement activities regarding the following railroads: A class I railroad; A railroad operating on any line that was used by class I railroads as of July 1, 2024; and A passenger railroad. The act requires the office to gather, analyze, and assess information, including: Data to create a more comprehensive understanding of railroad safety; Wayside detector information; Information regarding blocked public crossing locations; Information regarding railroad maintenance activity; An assessment of the state's ability to respond to a large-scale release of hazardous materials from railroad transportation; The best practices for ensuring financial responsibility for response, cleanup, and damages from major rail events, including reviewing best practices from other states; and Communication issues impacting railroad lines in the state. Beginning on or before July 1, 2027, a railroad regulated by the commission is required to pay a fee to cover the costs incurred by the commission and the office in relation to the act. The commission shall determine a methodology for calculating the fee by rule, and the commission may include specified criteria in the calculation. The total amount collected pursuant to the annual fee must not exceed $2,900,000 in a calendar year. A railroad regulated by the commission must pay the fee in equal quarterly installments and is subject to penalties and interest if they fail to timely pay the fee. (Note: This summary applies to this bill as enacted.)