Optional Residential Construction Contractor Certification

Second Regular Session Seventy-fifth General Assembly STATE OF COLORADO INTRODUCED HOUSE BILL 26-1415 LLS NO. 26-0514.02 Jed Franklin x5484 HOUSE SPONSORSHIP Ricks, SENATE SPONSORSHIP (None), House Committees Senate Committees Business Affairs & Labor A BILL FOR AN ACT CONCERNING A PROGRAM FOR THE PERMISSIVE CERTIFICATION OF RESIDENTIAL CONSTRUCTION CONTRACTORS.

Bill Summary (Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://leg.colorado.gov.) The bill creates the residential construction contractor certification enterprise (enterprise) in the department of law (department). The enterprise is and operates as a government-owned business within the department for the business purposes of using fee revenue to administer a residential construction contractor certification program (program). The enterprise may assess a residential construction contractor Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.

Capital letters or bold & italic numbers indicate new material to be added to existing law. Dashes through the words or numbers indicate deletions from existing law.

certification fee (fee) only on a residential construction contractor (contractor) that applies to the department for a residential construction certificate. The total annual fee revenue shall not exceed the cost of collecting the fee, administering the program, certifying contractors, and the direct and indirect costs of the enterprise. The amount of the fee must not exceed $100 annually. The department may adopt rules to implement the fee. The enterprise shall transmit all net revenue collected from the fee to the state treasurer, who shall credit the net revenue to the contractor certification cash fund, which is created by the bill. Money in the fund is continuously appropriated to the enterprise to administer the program. The enterprise shall administer the program in accordance with the following goals: ! Preventing or reducing damage to homeowners caused by contractors who abandon work before a project is complete; ! Encouraging contractors to comply with the terms of a construction agreement with the homeowner; and ! Increasing the likelihood of a contractor performing competently by encouraging contractors to be certified by the enterprise in accordance with certain standards. The enterprise is governed by a board of directors (board) composed of 13 individuals appointed by the attorney general or their designee. The board shall establish criteria to evaluate contractor applications for certification. To determine whether to issue a certification, the board shall consider specified criteria. The board shall submit a report by July 1 of each year to the committees of reference of the general assembly to which the department is assigned pursuant to statute. The report must include certain information specified in the bill.

Be it enacted by the General Assembly of the State of Colorado: SECTION 1. In Colorado Revised Statutes, add 24-31-120 as follows:

24-31-120. Residential construction contractor certification enterprise - fund - goals - certification program - gifts, grants, or donations - legislative declaration - definitions - repeal.

(1) Legislative declaration. THE GENERAL ASSEMBLY HEREBY:

(a) FINDS AND DETERMINES THAT:

(I) BY PROVIDING THE BENEFITS AND SERVICES SPECIFIED IN SUBSECTION (7) OF THIS SECTION, THE RESIDENTIAL CONSTRUCTION CONTRACTOR CERTIFICATION ENTERPRISE ENGAGES IN AN ACTIVITY CONDUCTED IN THE PURSUIT OF A BENEFIT, GAIN, OR LIVELIHOOD AND THEREFORE OPERATES AS A BUSINESS;

(II) CONSISTENT WITH THE DETERMINATION OF THE COLORADO SUPREME COURT IN NICHOLL V. E-470 PUBLIC HIGHWAY AUTHORITY, 896 P.2d 859 (COLO. 1995), THAT THE POWER TO IMPOSE TAXES IS INCONSISTENT WITH ENTERPRISE STATUS UNDER SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION, IT IS THE CONCLUSION OF THE GENERAL ASSEMBLY THAT THE FEE COLLECTED BY THE ENTERPRISE IS A FEE, NOT A TAX, BECAUSE THE FEE IS IMPOSED FOR THE SPECIFIC PURPOSE OF ALLOWING THE ENTERPRISE TO DEFRAY THE COSTS OF PROVIDING THE BUSINESS SERVICES SPECIFIED IN SUBSECTION (1)(a)(I) OF THIS SECTION TO CUSTOMERS THAT PAY THE FEE AND THE FEE IS COLLECTED AT A RATE THAT IS REASONABLY CALCULATED BASED ON THE BENEFITS RECEIVED BY THOSE CUSTOMERS;

(III) SO LONG AS THE RESIDENTIAL CONSTRUCTION CONTRACTOR CERTIFICATION ENTERPRISE QUALIFIES AS AN ENTERPRISE FOR PURPOSES OF SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION, THE REVENUE FROM THE FEE COLLECTED BY THE ENTERPRISE IS NOT STATE FISCAL YEAR SPENDING, AS DEFINED IN SECTION 24-77-102 (17), OR STATE REVENUES, AS DEFINED IN SECTION 24-77-103.6 (6)(c), AND DOES NOT COUNT AGAINST EITHER THE STATE FISCAL YEAR SPENDING LIMIT IMPOSED BY

SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION OR THE EXCESS STATE REVENUES CAP, AS DEFINED IN SECTION 24-77-103.6 (6)(b)(I)(B);

AND (IV) NO OTHER ENTERPRISE CREATED SIMULTANEOUSLY OR WITHIN THE PRECEDING FIVE YEARS SERVES PRIMARILY THE SAME PURPOSE AS THE RESIDENTIAL CONSTRUCTION CONTRACTOR CERTIFICATION ENTERPRISE AND THE ENTERPRISE WILL GENERATE REVENUE FROM FEES AND SURCHARGES OF LESS THAN ONE HUNDRED MILLION DOLLARS TOTAL IN ITS FIRST FIVE FISCAL YEARS. ACCORDINGLY, THE CREATION OF THE RESIDENTIAL CONSTRUCTION CONTRACTOR CERTIFICATION ENTERPRISE DOES NOT REQUIRE VOTER APPROVAL PURSUANT TO SECTION 24-77-108.

(2) Definitions. AS USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE REQUIRES:

(a) "BOARD" MEANS THE BOARD OF DIRECTORS OF THE ENTERPRISE.

(b) "CERTIFICATION PROGRAM" MEANS THE RESIDENTIAL CONSTRUCTION CONTRACTOR CERTIFICATION PROGRAM CREATED IN SUBSECTION (7) OF THIS SECTION.

(c) "CONTRACTOR" MEANS A PERSON UNDERTAKING OR PERFORMING RESIDENTIAL CONSTRUCTION.

(d) "DEPARTMENT" MEANS THE DEPARTMENT OF LAW.

(e) "ENTERPRISE" MEANS THE RESIDENTIAL CONSTRUCTION CONTRACTOR CERTIFICATION ENTERPRISE CREATED IN SUBSECTION (3) OF THIS SECTION.

(f) "FEE" MEANS THE FEE DESCRIBED IN SUBSECTION (4) OF THIS SECTION.

(g) "FUND" MEANS THE CONTRACTOR CERTIFICATION CASH FUND CREATED IN SUBSECTION (5) OF THIS SECTION.

(h) "RESIDENTIAL CONSTRUCTION" MEANS WORK ON RESIDENTIAL STRUCTURES FOR REMUNERATION AND INCLUDES THE BUILDING, ALTERATION, REPAIR, REMODELING, DEMOLITION, OR IMPROVEMENT OF ANY RESIDENTIAL STRUCTURE, AND GENERAL CONTRACTING, CARPENTRY, ELECTRICAL, PLUMBING, HVAC, MASONRY, CONCRETE WORK, ROOFING, OR OTHER SPECIALIZED TRADES THAT BENEFIT A RESIDENTIAL STRUCTURE.

(3) Enterprise.

(a) THE RESIDENTIAL CONSTRUCTION CONTRACTOR CERTIFICATION ENTERPRISE IS CREATED IN THE DEPARTMENT OF LAW . THE ENTERPRISE IS AND OPERATES AS A GOVERNMENT-OWNED BUSINESS WITHIN THE DEPARTMENT FOR THE BUSINESS PURPOSES OF USING FEE REVENUE TO ADMINISTER THE CERTIFICATION PROGRAM, EVALUATE CONTRACTORS THAT HAVE APPLIED FOR CERTIFICATION, AND ISSUE CERTIFICATES TO CONTRACTORS APPROVED BY THE BOARD. THE ENTERPRISE IS A TYPE 2 ENTITY AS DEFINED IN SECTION 24-1-105, AND EXERCISES ITS POWERS AND PERFORMS ITS DUTIES AND FUNCTIONS UNDER THE DEPARTMENT.

(b) THE ENTERPRISE CONSTITUTES AN ENTERPRISE FOR PURPOSES OF SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION SO LONG AS IT RETAINS THE AUTHORITY TO ISSUE REVENUE BONDS AND RECEIVES LESS THAN TEN PERCENT OF ITS TOTAL REVENUES IN GRANTS FROM THE STATE AND ALL LOCAL GOVERNMENTS COMBINED. SO LONG AS IT CONSTITUTES AN ENTERPRISE PURSUANT TO THIS SUBSECTION (3)(b), THE ENTERPRISE IS NOT SUBJECT TO SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION.

(c) THE ENTERPRISE'S PRIMARY POWERS AND DUTIES ARE TO:

(I) COLLECT THE FEE DESCRIBED IN SUBSECTION (4) OF THIS SECTION;

(II) EVALUATE CONTRACTORS WHO HAVE APPLIED FOR CERTIFICATION AND DETERMINE WHETHER TO CERTIFY THE CONTRACTOR IN ACCORDANCE WITH SUBSECTION (7) OF THIS SECTION;

(III) BY RESOLUTION, AUTHORIZE AND ISSUE REVENUE BONDS THAT ARE PAYABLE ONLY FROM THE MONEY IN THE FUND, WHICH MAY BE ISSUED TO FURTHER THE ENTERPRISE'S PURPOSES;

(IV) ADOPT, AMEND, OR REPEAL POLICIES FOR THE REGULATION OF ITS AFFAIRS AND THE CONDUCT OF ITS BUSINESS CONSISTENT WITH THIS SECTION, INCLUDING ESTABLISHING APPLICATION, REVIEW, APPROVAL, REPORTING, AND OTHER REQUIREMENTS FOR CERTIFICATION; AND

(V) ENGAGE THE SERVICE OF CONSTRUCTION CONTRACTORS, CONSULTANTS, AND LEGAL COUNSEL, INCLUDING THE DEPARTMENT, FOR PROFESSIONAL AND TECHNICAL ASSISTANCE AND ADVICE AND TO SUPPLY OTHER SERVICES RELATED TO THE CONDUCT OF THE AFFAIRS OF THE ENTERPRISE, WITHOUT REGARD TO THE "PROCUREMENT CODE", ARTICLES 101 TO 112 OF THIS TITLE 24.

(d) THE ENTERPRISE IS GOVERNED BY A BOARD OF DIRECTORS. THE BOARD CONSISTS OF THE FOLLOWING THIRTEEN MEMBERS APPOINTED BY THE ATTORNEY GENERAL OR THEIR DESIGNEE:

(I) ONE MEMBER REPRESENTING THE DEPARTMENT OF LAW;

(II) ONE MEMBER REPRESENTING THE DIVISION OF HOUSING IN THE DEPARTMENT OF LOCAL AFFAIRS;

(III) ONE MEMBER REPRESENTING THE DIVISION OF PROFESSIONS AND OCCUPATIONS IN THE DEPARTMENT OF REGULATORY AGENCIES;

(IV) ONE MEMBER WHO HAS EXPERIENCE IN LICENSING ELECTRICIANS, PLUMBERS, HVAC, OR MECHANICAL TRADES;

(V) FOUR MEMBERS REPRESENTING RESIDENTIAL HOUSING CONSUMERS, AT LEAST ONE OF WHOM REPRESENTS A RURAL AREA, ONE OF WHOM REPRESENTS A MUNICIPALITY, AND ALL OF WHOM, TAKEN AS A WHOLE AND TO THE GREATEST EXTENT POSSIBLE, REPRESENT THE GEOGRAPHIC DIVERSITY OF THE STATE;

(VI) TWO MEMBERS WHO HAVE EXPERTISE IN RESOLVING RESIDENTIAL CONSTRUCTION DISPUTES; AND (VII) THREE MEMBERS REPRESENTING THE RESIDENTIAL CONSTRUCTION CONTRACTING INDUSTRY.

(e) THE MEMBER APPOINTED PURSUANT TO SUBSECTION (3)(d)(I) OF THIS SECTION SHALL CALL THE FIRST MEETING OF THE BOARD. THE BOARD SHALL ELECT A CHAIR FROM AMONG ITS MEMBERS TO SERVE FOR A TERM NOT TO EXCEED TWO YEARS, AS DETERMINED BY THE BOARD.

(f) THE TERM OF OFFICE OF BOARD MEMBERS IS FOUR YEARS;

EXCEPT THAT THE ATTORNEY GENERAL OR THEIR DESIGNEE SHALL DESIGNATE TWO MEMBERS APPOINTED PURSUANT TO SUBSECTION (3)(d)(V) OF THIS SECTION, ONE OF THE MEMBERS APPOINTED PURSUANT TO SUBSECTION (3)(d)(VI) OF THIS SECTION, AND THREE OF THE MEMBERS APPOINTED PURSUANT TO SUBSECTIONS (3)(d)(I), (3)(d)(II), (3)(d)(IV), AND (3)(d)(VII) OF THIS SECTION TO SERVE INITIAL TERMS OF TWO YEARS.

(g) A VACANCY ON THE BOARD SHALL BE FILLED BY THE ATTORNEY GENERAL OR THEIR DESIGNEE AS SOON AS POSSIBLE. A PERSON APPOINTED TO FILL A VACANCY SERVES FOR THE REMAINDER OF THE UNEXPIRED TERM.

(h) THE BOARD SHALL MEET AT LEAST QUARTERLY AND THE CHAIR MAY CALL ADDITIONAL MEETINGS AS NECESSARY FOR THE BOARD TO COMPLETE ITS DUTIES.

(i) EACH MEMBER OF THE BOARD IS ENTITLED TO RECEIVE FROM MONEY IN THE FUND A PER DIEM ALLOWANCE OF FIFTY DOLLARS FOR EACH DAY SPENT ATTENDING OFFICIAL BOARD MEETINGS.

(4) Fee.

(a) A CONTRACTOR CERTIFICATION FEE IN AN AMOUNT SET BY THE ENTERPRISE, UP TO A MAXIMUM OF ONE HUNDRED DOLLARS, IS IMPOSED ON EACH RESIDENTIAL CONSTRUCTION CONTRACTOR THAT APPLIES TO THE BOARD FOR A CERTIFICATION.

CONTRACTOR THAT APPLIES FOR A CERTIFICATION SHALL PAY THE CONTRACTOR CERTIFICATION FEE TO THE ENTERPRISE AT THE TIME AND IN THE MANNER PRESCRIBED BY THE ENTERPRISE IN ACCORDANCE WITH SUBSECTION (6) OF THIS SECTION. THE MONEY FROM THE FEE IMPOSED PURSUANT TO THIS SUBSECTION (4)(a) IS EXCLUDED FROM THE STATE'S FISCAL YEAR SPENDING.

EACH RESIDENTIAL CONSTRUCTION

(b) THE ENTERPRISE SHALL TRANSMIT THE MONEY FROM THE FEES COLLECTED PURSUANT TO THIS SUBSECTION (4) TO THE STATE TREASURER, WHO SHALL CREDIT THE MONEY TO THE CONTRACTOR CERTIFICATION FEE CASH FUND CREATED IN SUBSECTION (5) OF THIS SECTION.

(c) THE ENTERPRISE SHALL ENSURE, BY LOWERING THE FEE IMPOSED BY THIS SUBSECTION (4) TO THE EXTENT NECESSARY, THAT THE TOTAL AMOUNT OF FEE REVENUE DOES NOT EXCEED ONE HUNDRED MILLION DOLLARS OVER THE FIRST FIVE FISCAL YEARS OF THE ENTERPRISE'S EXISTENCE.

(5) Fund.

(a) THE CONTRACTOR CERTIFICATION CASH FUND IS CREATED IN THE STATE TREASURY. THE FUND CONSISTS OF MONEY CREDITED TO THE FUND PURSUANT TO SUBSECTION (4) OF THIS SECTION AND ANY OTHER MONEY THAT THE GENERAL ASSEMBLY MAY APPROPRIATE OR TRANSFER TO THE FUND.

(b) THE MONEY IN THE FUND SHALL NOT BE DEPOSITED IN OR TRANSFERRED TO THE GENERAL FUND OR ANY OTHER FUND. THE STATE TREASURER SHALL CREDIT ALL INTEREST AND INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEY IN THE FUND TO THE FUND.

(c) MONEY IN THE FUND IS CONTINUOUSLY APPROPRIATED TO THE ENTERPRISE FOR:

(I) THE COSTS OF COLLECTING THE FEE, ADMINISTERING THE CERTIFICATION PROGRAM, AND CERTIFYING RESIDENTIAL CONSTRUCTION CONTRACTORS IN ACCORDANCE WITH SUBSECTION (7) OF THIS SECTION;

(II) INCURRED BY THE ENTERPRISE; AND ANY DIRECT AND INDIRECT ADMINISTRATIVE EXPENSES

(III) REPAYING THE GENERAL FUND LOAN MADE PURSUANT TO SUBSECTION (5)(e) OF THIS SECTION.

(d) THE BOARD MAY SEEK, ACCEPT, AND EXPEND GIFTS, GRANTS, OR DONATIONS FROM PRIVATE OR PUBLIC SOURCES FOR THE PURPOSES OF THIS SECTION, SO LONG AS THE TOTAL AMOUNT OF ALL GRANTS RECEIVED FROM THE STATE AND LOCAL GOVERNMENTS IS LESS THAN TEN PERCENT OF THE ENTERPRISE'S TOTAL ANNUAL REVENUE.

(e) (I) ON JUNE 30, 2026, THE STATE TREASURER SHALL TRANSFER TEN THOUSAND DOLLARS FROM THE GENERAL FUND TO THE FUND FOR THE PURPOSE OF DEFRAYING EXPENSES INCURRED BY THE ENTERPRISE BEFORE IT NOTWITHSTANDING ANY OTHER LAW, THE ENTERPRISE MAY ACCEPT AND EXPEND ANY MONEY SO TRANSFERRED, AND, NOTWITHSTANDING ANY STATE FISCAL RULE OR GENERALLY ACCEPTED ACCOUNTING PRINCIPLE THAT COULD OTHERWISE BE INTERPRETED TO REQUIRE A CONTRARY CONCLUSION, THE TRANSFER IS A LOAN FROM THE STATE TREASURER TO THE ENTERPRISE THAT IS REQUIRED TO BE REPAID AND IS NOT A GRANT FOR PURPOSES OF SECTION RECEIVES FEE REVENUE OR 20 (2)(d) REVENUE OF ARTICLE BOND PROCEEDS .

X OF THE STATE CONSTITUTION OR AS DEFINED IN SECTION 24-77-102 (7). ALL MONEY TRANSFERRED AS A LOAN TO THE ENTERPRISE IS CREDITED TO THE FUND OR TO AN ACCOUNT WITHIN THE FUND. LOAN LIABILITIES THAT ARE RECORDED IN THE FUND BUT THAT ARE NOT REQUIRED TO BE PAID IN THE CURRENT FISCAL YEAR SHALL NOT BE CONSIDERED WHEN CALCULATING THE SUFFICIENT STATUTORY FUND BALANCE FOR PURPOSES OF SECTION

(II) NO LATER THAN DECEMBER 31, 2027, THE ENTERPRISE SHALL REPAY THE LOAN OF TEN THOUSAND DOLLARS RECEIVED PURSUANT TO SUBSECTION (5)(e)(I) OF THIS SECTION AND ACCUMULATED INTEREST.

INTEREST ACCRUES ON THE MONEY BORROWED AT THE RATE PER ANNUM ON THE MOST RECENTLY ISSUED TEN-YEAR UNITED STATES TREASURY NOTE, ROUNDED TO THE NEAREST ONE-TENTH OF ONE PERCENT, AS REPORTED BY THE WALL STREET JOURNAL AS OF THE DATE THE TRANSFER REQUIRED BY SUBSECTION (5)(e)(I) OF THIS SECTION IS MADE, BEGINNING ON THAT DATE AND CONTINUING UNTIL THE DATE ON WHICH THE MONEY IS REPAID.

(III) THIS SUBSECTION (5)(e) IS REPEALED, EFFECTIVE JULY 1, 2028. (6) Residential construction improvement goals. THE ENTERPRISE SHALL ADMINISTER THE CERTIFICATION PROGRAM IN ACCORDANCE WITH THE FOLLOWING GOALS:

(a) PREVENTING OR REDUCING DAMAGE TO HOMEOWNERS CAUSED BY CONTRACTORS WHO ABANDON WORK BEFORE A PROJECT IS COMPLETE;

(b) ENCOURAGING CONTRACTORS TO COMPLY WITH THE TERMS OF A CONSTRUCTION AGREEMENT WITH A HOMEOWNER; AND

(c) INCREASING THE LIKELIHOOD OF A CONTRACTOR PERFORMING COMPETENTLY BY ENCOURAGING CONTRACTORS TO BE CERTIFIED BY THE ENTERPRISE.

(7) Certification program.

(a) THE RESIDENTIAL CONSTRUCTION CONTRACTOR CERTIFICATION PROGRAM, BY WHICH A CONTRACTOR MAY OBTAIN CERTIFICATION FROM THE BOARD TO PERFORM RESIDENTIAL CONSTRUCTION PROJECTS, IS CREATED. THE ENTERPRISE SHALL ADMINISTER THE CERTIFICATION PROGRAM AND ISSUE CERTIFICATES AS PROVIDED IN THIS SUBSECTION (7).

(b) THE PURPOSE OF THE CERTIFICATION PROGRAM IS TO ACHIEVE THE GOALS SPECIFIED IN SUBSECTION ENCOURAGING CONTRACTORS TO PARTICIPATE IN THE CERTIFICATION PROGRAM AND OBTAIN A CERTIFICATION FROM THE BOARD PURSUANT TO THIS SECTION, PROVIDE BETTER SERVICE TO CONSUMERS, AND FOSTER A SENSE OF CONFIDENCE IN CONSUMERS THAT CERTIFIED CONTRACTORS ARE RELIABLE, SAFE, AND COMPETENT. THE BOARD SHALL ESTABLISH CRITERIA TO EVALUATE APPLICATIONS FOR CERTIFICATION BASED ON:

(I) OF THIS SECTION BY WHETHER THE CONTRACTOR PROCURES AND MAINTAINS ADEQUATE FINANCIAL SECURITY TO COVER ITS POTENTIAL LIABILITIES.

ADEQUATE FINANCIAL SECURITY INCLUDES A SURETY BOND OR LIABILITY INSURANCE IN COMMERCIALLY REASONABLE COVERAGE AMOUNTS TAKING INTO ACCOUNT THE POTENTIAL LIABILITY EXPOSURE OF A CONTRACTOR APPLYING FOR A CERTIFICATION.

(II) THE DEGREE OF THE CONTRACTOR'S COMPLIANCE WITH OTHER APPLICABLE CONSTRUCTION LICENSING REQUIREMENTS;

(III) THE DEGREE OF THE CONTRACTOR'S COMPLIANCE WITH APPLICABLE BUILDING CODES;

(IV) THE CONTRACTOR'S SKILL LEVEL, AS INDICATED BY OTHER CERTIFICATIONS, LICENSES, PROJECTS UNDERTAKEN, EDUCATIONAL LEVEL, REPUTATION, AND EXPERIENCE IN THE INDUSTRY;

(V) ANY INFORMATION RELATED TO THE QUALITY OF THE CONTRACTOR'S PERFORMANCE ON RESIDENTIAL CONSTRUCTION PROJECTS;

(VI) THE DEGREE TO WHICH THE CONTRACTOR COMPLETED PROJECTS ON TIME AND IN ACCORDANCE WITH ITS CONTRACTUAL OBLIGATIONS; AND

(VII) THE NATURE OF ANY RESIDENTIAL CONSTRUCTION PROJECT DISPUTES INVOLVING THE CONTRACTOR AND THE RESOLUTION OF THE DISPUTE, IF ANY.

(c) A CONTRACTOR MAY SUBMIT AN APPLICATION TO THE ENTERPRISE FOR A CERTIFICATION PURSUANT TO THE POLICIES AND PROCEDURES ADOPTED BY THE BOARD.

(8) Reporting. NOTWITHSTANDING SECTION 24-1-136 (11)(a)(I), THE BOARD SHALL SUBMIT A REPORT BY JULY 1 OF EACH YEAR TO THE COMMITTEES OF REFERENCE OF THE GENERAL ASSEMBLY TO WHICH THE DEPARTMENT IS ASSIGNED PURSUANT TO SECTION 2-7-203 (1). THE REPORT MUST INCLUDE:

(a) THE UNOBLIGATED BALANCE OF THE FUND, THE NUMBER OF CERTIFICATION CERTIFICATES ISSUED;

APPLICATIONS RECEIVED, AND THE NUMBER OF

(b) THE PROGRESS TOWARD ACHIEVEMENT OF THE RESIDENTIAL CONSTRUCTION IMPROVEMENT GOALS SPECIFIED IN SUBSECTION (6) OF THIS SECTION AND THE PRIMARY FACTORS FACILITATING AND INHIBITING THAT PROGRESS; AND

(c) ANY SUGGESTED LEGISLATION OR POLICY CHANGES.

(9) Repeal. THIS SECTION IS REPEALED, EFFECTIVE JANUARY 1, 2037. SECTION 2.

Safety clause. The general assembly finds, determines, and declares that this act is necessary for the immediate preservation of the public peace, health, or safety or for appropriations for the support and maintenance of the departments of the state and state institutions.