July 18, 2019

SB 15-079: Increasing County Clerk Document Recording Surcharge

On January 14, 2015, Sen. Jessie Ulibarri introduced SB 15-079 – Concerning Modifications to the Document Recording Fee Imposed by Counties for the Purpose of Financing a Statewide Affordable Housing Investment FundThis summary is published here courtesy of the Colorado Bar Association’s e-Legislative Report.

Section 1 of the bill raises to $2 the surcharge to be imposed by each county clerk and recorder (clerk) for each document received for recording or filing in his or her office on or after July 1, 2015. The surcharge is in addition to any other fees permitted by statute. Out of each $2 collected, the bill requires the clerk to retain one dollar to be used to defray the costs of an electronic or core filing system in accordance with existing law. The bill requires the clerk to transmit the other dollar collected to the state treasurer, who is to credit the same to the statewide affordable housing investment fund (fund). Section 2 of the bill creates the fund in the Colorado housing and finance authority (authority). The bill specifies the source of moneys to be deposited into the fund and that the authority is to administer the fund. Moneys in the fund are to be expended by the authority for the development and preservation of affordable housing on a statewide basis. Section 2 of the bill also requires the authority to submit a report, no later than June 1 of each year, specifying the use of the fund during the prior calendar year to the governor and to the senate and house finance committees.

The bill was assigned to the Senate State, Veterans, & Military Affairs Committee.

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