In part due to the comments from and engagement of stakeholders in the homeowner association industry, the Senate Judiciary Committee today voted 5-4 to indefinitely postpone SB 11-122, the Junior Lienholder Bill.
It’s not over yet: the bill can still be brought back this session, and it is likely that the bill’s sponsors may try to do that. As we’ve discussed in previous blog posts, this bill is one of two before the Colorado Legislature this year which, if passed, could contribute to financially destabilizing homeowners, condominium and townhome associations across the state.
Once again, thank you to each one of you who took the time to contact Senators and express your concerns about this bill — you made a difference! We also recognize the efforts of the CAI Colorado Legislative Action Committee (“CLAC”), especially CLAC lobbyist Amy Redfern, who have continued to work hard for the best interests of the community association industry on both the Junior Lienholder bill and the Superlien bill, and the team of community association attorneys who took the time to testify against the bill at the Committee hearing on Tuesday.
We will keep you posted if this bill comes back again.