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SENATE BILL 26-053
BY SENATOR(S) Kirkmeyer and Mullica, Carson, Daugherty, Frizell,
Kipp, Lindstedt, Liston, Pelton B., Roberts, Snyder, Coleman;
also REPRESENTATIVE(S) Clifford and Gonzalez R., Boesenecker,
Duran, Hamrick, Lindsay, Nguyen, Phillips, Rutinel, Velasco, McCluskie.
CONCERNING THE EXPANSION OF ELIGIBLE BORROWERS FOR MORTGAGES
THROUGH THE COLORADO HOUSING AND FINANCE AUTHORITY.
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. Short title.
The short title of this act is the "Colorado Champions Home Loan
Program".
SECTION 2. In Colorado Revised Statutes, 29-4-703, amend (5.4);
repeal (5.3) and (5.5); and add (5.6), (5.8), (5.9), and (12.3) as follows:
29-4-703. Definitions - rules.
As used in this part 7, unless the context otherwise requires:
NOTE: This bill has been prepared for the signatures of the appropriate legislative
officers and the Governor. To determine whether the Governor has signed the bill
or taken other action on it, please consult the legislative status sheet, the legislative
history, or the Session Laws.
________
Capital letters or bold & italic numbers indicate new material added to existing law; dashes
through words or numbers indicate deletions from existing law and such material is not part of
the act.
(5.3) "Governing body" means the board, council, officer, or group
charged with exercising the legislative power of a government.
(5.4) "Government" means the federal government, the state
government, and any county, municipality, or state agency "F IRST
RESPONDER" MEANS A PEACE OFFICER , FIREFIGHTER , OR EMERGENCY
MEDICAL TECHNICIAN.
(5.5) "Home improvement loan" means a loan of money for the
alteration, repair, or improvement of an existing housing facility. The term
does not include a loan for a pool, hot tub, or any other construction not
directly improving the structural integrity, general appearance, or living
conditions within the housing facility.
(5.6) "GOVERNING BODY" MEANS THE BOARD, COUNCIL, OFFICER, OR
GROUP CHARGED WITH EXERCISING THE LEGISLATIVE POWER OF A
GOVERNMENT.
(5.8) "G OVERNMENT" MEANS THE FEDERAL GOVERNMENT , THE
STATE GOVERNMENT, AND ANY COUNTY, MUNICIPALITY, OR STATE AGENCY.
(5.9) "HOME IMPROVEMENT LOAN" MEANS A LOAN OF MONEY FOR
THE ALTERATION , REPAIR , OR IMPROVEMENT OF AN EXISTING HOUSING
FACILITY. THE TERM DOES NOT INCLUDE A LOAN FOR A POOL, HOT TUB, OR
OTHER CONSTRUCTION NOT DIRECTLY IMPROVING THE STRUCTURAL
INTEGRITY, GENERAL APPEARANCE , OR LIVING CONDITIONS WITHIN THE
HOUSING FACILITY.
(12.3) "PEACE OFFICER" MEANS A PEACE OFFICER AS DESCRIBED IN
SECTION 16-2.5-102, A NONCERTIFIED DEPUTY SHERIFF AS DESCRIBED IN
SECTION 16-2.5-103 (2), AN EMERGENCY COMMUNICATIONS SPECIALIST AS
DEFINED IN SECTION 29-11-101 (10.5), A CORRECTIONS OFFICER AS
DESCRIBED IN SECTION 16-2.5-135, A PORT OF ENTRY OFFICER AS DESCRIBED
IN SECTION 16-2.5-115, OR A WILDLIFE OFFICER AS DESCRIBED IN SECTION
16-2.5-116.
SECTION 3. In Colorado Revised Statutes, 29-4-712, amend (4)(a)
as follows:
29-4-712. Powers of the board - executive director - mortgage
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purchase - loans to lenders - assistance in providing housing facilities.
(4) (a) Mortgage loans made by lenders to families with the
proceeds of a loan as provided for in subsection (3) of this section, pursuant
to a commitment to purchase as provided for in paragraph (a) of subsection
(3.5) SUBSECTION (3.5)(a) of this section, or with the proceeds of the
purchase of a mortgage loan as provided for in paragraph (b) of subsection
(3.5) SUBSECTION (3.5)(b) of this section, shall be to families who qualify
as:
(I) Low-income or low- or moderate-income families; OR
(II) FAMILIES OF FIRST RESPONDERS WORKING IN COLORADO WHOSE
QUALIFYING INCOME DOES NOT EXCEED ONE HUNDRED TEN PERCENT OF THE
QUALIFYING INCOME LIMITS ESTABLISHED BY THE BOARD UNDER SECTION
29-4-703 (10).
SECTION 4. Act subject to petition - effective date. This act
takes effect at 12:01 a.m. on the day following the expiration of the
ninety-day period after final adjournment of the general assembly (August
12, 2026, if adjournment sine die is on May 13, 2026); except that, if a
referendum petition is filed pursuant to section 1 (3) of article V of the state
constitution against this act or an item, section, or part of this act within
such period, then the act, item, section, or part will not take effect unless
PAGE 3-SENATE BILL 26-053
approved by the people at the general election to be held in November 2026
and, in such case, will take effect on the date of the official declaration of
the vote thereon by the governor.
____________________________ ____________________________
James Rashad Coleman, Sr. Julie McCluskie
PRESIDENT OF SPEAKER OF THE HOUSE
THE SENATE OF REPRESENTATIVES
____________________________ ____________________________
Esther van Mourik Vanessa Reilly
SECRETARY OF CHIEF CLERK OF THE HOUSE
THE SENATE OF REPRESENTATIVES
APPROVED________________________________________
(Date and Time)
_________________________________________
Jared S. Polis
GOVERNOR OF THE STATE OF COLORADO
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