Senate amendments to House Bill 1343 (“HB 1343”) were given the thumbs-up yesterday by the House and the bill is now headed to Governor Hickenlooper to be signed into law. In a legislative session that was highlighted by partisan politics, HB 1343 had bipartisan unanimous approval through every step of the process. That’s a truly astounding success story!
HB 1343 will immediately become effective as soon as the Governor signs the bill into law. Here’s what you need to know about HB 1343:
1. The bill more clearly defines who is classified as a community association manager who must be licensed and who is exempt from the licensure requirements;
2. The bill establishes an apprentice license and related requirements;
3. The bill provides that management company CEOs are not required to be licensed and more clearly establishes the “designated manager” required for management companies;
4. The bill clarifies that individuals holding the CMCA credential, AMS designation, PCAM designation or other credential approved by the Director of the Division of Real Estate need only take the Colorado law portion of the licensure examination;
5. The bill provides that for community association managers who have not passed both sections of the licensure exam by July 1, 2015, the Director of the Division of Real Estate has the authority to grant those managers a provisional license through December 31, 2015; and
6. the bill specifies that the funds used for implementation of the licensure program will be maintained in the Division of Real Estate cash fund.
As soon as the Governor signs HB 1343 into law, we will provide you with an update on this blog. Huge kudos go out to CAI’s Colorado Legislative Action Committee for getting the job done on this extremely important clean-up bill!