| We are at that point in the legislative session that it feels like Groundhog Day. Legislators are spending their morning on the floor debating bills. We try to catch them to discuss legislation. The afternoon is devoted to committee work on bills introduced. So, we fight bills or work to amend bills that negatively impact business and consumers, we support bills that allow the economy to grow and provide job growth, and we wake up the next morning and do it all over again.
In the midst of it we diligently focused on HB1351 Banking Division Sunset. With the snow day on March 14, 2024, the hearing is now scheduled for Thursday, March 28, 2024, at 1:30 pm in House Business Affairs. We expect the hearing to start late as the House Chamber will debate the state budget that morning. Any members that can attend the hearing, we would appreciate the support in the room. The hearing will be at the State Capitol in House Hearing Room 0112. Please email Alison if you have questions about attending.
HB24-1085 Concerning Limitations of Actions Against Appraisers The legislation proposed to limit the time action could be brought against an appraiser. The bill passed the House. It was heard in Senate Judiciary on Monday, March 18, 2024. It was killed in committee.
Also on Monday, March 18, HB24-1014 Deceptive Trade Practice Significant Impact Standard was heard in Senate Judiciary. This bill undermines the Colorado Consumer Protect Act and will increase the likelihood of frivolous lawsuits. The bill was laid over for action. This indicates the proponents do not have the votes to get it out of committee.
Yesterday, March 20, 2024, I testified in opposition to HB24-1260 Prohibitions Against Employee Discipline or Worker Freedom Act. The bill’s intent is to prevent employer union-busting tactics. However, the bill’s intent and the actual language in the bill are entirely different. Additionally, the bill creates a new private right of action for employees without any administrative remedies in place. The bill allows an employee to opt out of emails and meetings if the employee feels there is a religious or political message in the meeting. Amendments were offered yesterday in committee, but the amendments do not go far enough to address the structural flaws in the bill.
Today, March 21, 2024, SB24-106 Construction Defect Reform will be back before Senate Local Government Committee for action. Several amendments are anticipated as a compromise so that the bill will be voted out of committee. CBA has been a strong supporter of construction defect reform.
In contrast, HB24-1230 Protections for Real Property Owners, makes it a violation of the Consumer Protection act to obtain a waiver or attempt to obtain a waiver or limitation of the current construction defect law. Additionally, the bill requires the court to award a claimant that prevails in a claim arising from alleged defects in a residential property construction, in addition to actual damages, prejudgment interest on the claim at a rate of 6% from the date the work is finished to the date it is sold and 8% thereafter. As I previously reported, this bill passed House committee; it has not been debated on the floor. In all likelihood, there is a great conflict on the horizon between SB24-106 and HB24-1230 and whether either bill survives in the next chamber.
A FINAL THOUGHT: As we celebrate Women’s History Month, here are a couple little known but fascinating facts about the First Ladies of the United States and their interplay with banking.
Sarah Polk, wife of the 11th President of the United States, James Polk, disagreed with her husband about banks. She encouraged him to put their money in banks; he preferred to carry it with them in their luggage!
First Lady Ida McKinley, wife of the 25th President of the United States, William McKinley, worked as a bank teller and bank manager in her father’s bank. ◼
Alison Morgan, Director of State Government Relations |
