C.R.S. Section 29-4-1003
Rent reporting for credit pilot program

  • created
  • third-party contractor
  • participant landlords and participant tenants
  • financial education courses required
  • compensation for participant landlords

(1)

The rent reporting for credit pilot program is created to facilitate the reporting of participant tenants’ rent payment information to consumer reporting agencies.

(2)

On or before October 1, 2021, the authority shall contract with a third party to administer the pilot program. The contractor shall administer the pilot program in accordance with this part 10 and rules promulgated by the authority pursuant to section 29-4-1004.

(3)

Intentionally left blank —Ed.

(a)

On and after October 15, 2021, the contractor, in consultation with the authority, shall recruit no more than ten participant landlords and, to the extent practicable, shall attempt to include a total of at least one hundred participant tenants, with an emphasis on selecting participant tenants from populations that are under-served and under-represented in home ownership. To the extent practicable, the contractor shall recruit participant landlords who offer:

(I)

A variety of types of dwelling units for rent, including dwelling units of various sizes;

(II)

Dwelling units for rent that are located in diverse areas of the state; and

(III)

At least five dwelling units for rent.

(b)

In order to become a participant landlord, a landlord must agree in writing:

(I)

To participate in the pilot program for at least fourteen months, but the authority shall not require a landlord to report a participant tenant’s rent payment information under the pilot program after April 1, 2024;

(II)

Not to charge a participant tenant for participation in the pilot program;

(III)

To comply with rules promulgated by the authority pursuant to section 29-4-1004; and

(IV)

To provide information, to the extent practicable, to the authority and the contractor concerning the execution of the program for the purpose of informing the report described in section 29-4-1005.

(c)

The contractor may work with statewide or national associations of landlords to identify potential participant landlords.

(d)

The contractor shall support and work with landlords to recruit tenants to participate in the pilot program.

(4)

A tenant may participate in the pilot program only if the tenant agrees to participate and completes a financial education course. A participant tenant must demonstrate that the participant tenant has completed a financial education course before the participant tenant may have a participant landlord report the participant tenant’s rent payment information.

(5)

On and after October 15, 2021, the contractor shall:

(a)

Provide education to participant landlords and potential participant landlords concerning the requirements of participation in the pilot program; and

(b)

Provide information to participant landlords to help recruit participant tenants, including, at a minimum, information concerning how to participate in the pilot program and the list of financial education courses established pursuant to rules promulgated by the authority pursuant to section 29-4-1004.

(6)

Participant landlords that satisfy the requirements described in subsection (3)(b) of this section may be eligible to receive compensation for their participation in the pilot program. Such compensation:

(a)

Shall be paid from money received by the authority from the state treasurer pursuant to section 24-36-123; and

(b)

Shall be paid to participant landlords in accordance with rules established by the authority pursuant to section 29-4-1004.

Source: Section 29-4-1003 — Rent reporting for credit pilot program - created - third-party contractor - participant landlords and participant tenants - financial education courses required - compensation for participant landlords, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-29.­pdf (accessed Oct. 20, 2023).

29‑4‑101
Short title 29‑4‑102
Legislative declaration 29‑4‑103
Definitions 29‑4‑104
Powers of cities to undertake projects 29‑4‑105
Eminent domain 29‑4‑106
Acquisition of land for government 29‑4‑107
Management of housing projects 29‑4‑108
Moneys of city 29‑4‑109
Construction contracts and costs 29‑4‑110
Bonds secured by taxes - maturity 29‑4‑111
Bonds not secured by taxes authorized by resolution 29‑4‑112
Tax resolution - payment of bonds 29‑4‑113
Form of bonds - rate of interest 29‑4‑114
Provisions of bonds, mortgages, or trust indentures 29‑4‑115
Mortgage when financed by government 29‑4‑116
Remedies of an obligee of city 29‑4‑117
Additional remedies 29‑4‑118
Remedies cumulative 29‑4‑119
Limitations on remedies of obligee 29‑4‑120
Foreclosure sale subject to government agreement 29‑4‑121
Action by resolution 29‑4‑122
Tax exemptions 29‑4‑123
Supplemental nature of article 29‑4‑201
Short title 29‑4‑202
Legislative declaration 29‑4‑203
Definitions 29‑4‑204
Petition for creation of authority - notice - hearing 29‑4‑205
Appointment of commissioners 29‑4‑206
Duty of the authority and commissioners 29‑4‑207
Interested commissioners or employees 29‑4‑208
Removal of commissioners 29‑4‑209
Powers of authority 29‑4‑210
Rentals and tenant selection 29‑4‑211
Eminent domain 29‑4‑212
Acquisition of land for government 29‑4‑213
Zoning and building laws 29‑4‑214
Types of bonds 29‑4‑215
Form of bonds 29‑4‑216
Provisions of bond or mortgage 29‑4‑217
Power to mortgage - when 29‑4‑218
Remedies of an obligee of authority 29‑4‑219
Additional remedies 29‑4‑220
Remedies cumulative 29‑4‑221
Limitations on remedies of obligee 29‑4‑222
Sale subject to government agreement 29‑4‑223
Contracts with federal government 29‑4‑224
Wage and labor conditions 29‑4‑225
Insurance 29‑4‑226
Exemption from special assessments 29‑4‑227
Tax exemptions 29‑4‑228
Reports 29‑4‑229
Low rentals 29‑4‑230
Previous housing authorities validated 29‑4‑231
Contracts and undertakings validated 29‑4‑232
Notes and bonds validated 29‑4‑301
Short title 29‑4‑302
Legislative declaration 29‑4‑303
Definitions 29‑4‑304
Preparation of development plan 29‑4‑305
Assistance in preparation of plan 29‑4‑306
Action on setting up of authority 29‑4‑307
Additional powers of authority 29‑4‑308
Organization of authority 29‑4‑309
Condemnation for a superior use 29‑4‑310
Area not wholly in one municipality 29‑4‑311
Termination of an authority 29‑4‑312
Appropriations by municipality 29‑4‑313
Taxation 29‑4‑314
Supervision of reconstruction agency 29‑4‑401
Existing statutes no bar to creation of housing authority 29‑4‑402
Cities and towns empowered to create housing authorities 29‑4‑501
Legislative declaration 29‑4‑502
Definitions 29‑4‑503
Creation of housing authority 29‑4‑504
Appointment of commissioners 29‑4‑505
Powers of authority 29‑4‑506
Policy of authority 29‑4‑507
Exemption from special assessments - tax exemptions 29‑4‑508
Boundaries of authority 29‑4‑509
Conformity with building laws 29‑4‑601
Applicability of part 6 29‑4‑602
Posting and publication of notice - petition 29‑4‑603
Cooperative agreement - costs of election 29‑4‑604
Election - resolution 29‑4‑605
Notice of election 29‑4‑606
Conduct of election 29‑4‑607
Count of ballots - canvass - results of election 29‑4‑701
Short title 29‑4‑702
Legislative declaration 29‑4‑703
Definitions - rules 29‑4‑704
Colorado housing and finance authority 29‑4‑704.5
Reference in contracts and documents 29‑4‑705
Records of board 29‑4‑706
Meetings of board 29‑4‑707
Disclosure of interests required 29‑4‑708
General powers of the authority - repeal 29‑4‑709
Power of board - housing facility plans 29‑4‑710
Powers of the board - executive director - housing facility loans - assistance in housing facility development 29‑4‑710.5
Powers of the board - lease, sale, or financing of projects 29‑4‑710.6
Powers of the board - loans for capital 29‑4‑710.7
Powers of the board - issuance of bonds to maintain balances in the unemployment compensation fund 29‑4‑711
Power of board - housing facility plans - mortgage purchase - loans to lenders 29‑4‑712
Powers of the board - executive director - mortgage purchase - loans to lenders - assistance in providing housing facilities 29‑4‑713
Power of the board - home improvement loans 29‑4‑714
Powers of the board - home improvement loans - purchase of such loans - loans to lenders 29‑4‑716
Standards for approval of organizations 29‑4‑717
Findings - percentage of low-income families required 29‑4‑718
Bonds and notes 29‑4‑719.1
Economic development fund 29‑4‑720
Validity of any pledge 29‑4‑721
Remedies 29‑4‑722
Negotiable instruments 29‑4‑723
Bonds eligible for investment 29‑4‑724
Refunding bonds 29‑4‑725
Nonliability of state for bonds 29‑4‑726
Members of authority not personally liable on bonds 29‑4‑727
Property taxation - exemption of bonds from taxation 29‑4‑728
Revolving fund established 29‑4‑729
Reporting 29‑4‑730
Powers of the authority - investments 29‑4‑731
Agreement of this state 29‑4‑732
This part 7 not a limitation of powers 29‑4‑734
Termination of powers 29‑4‑735
Colorado strategic seed fund council - creation 29‑4‑1001
Short title 29‑4‑1002
Definitions 29‑4‑1003
Rent reporting for credit pilot program - created - third-party contractor - participant landlords and participant tenants - financial education courses required - compensation for participant landlords 29‑4‑1004
Rent reporting for credit pilot program - rules 29‑4‑1005
Rent reporting for credit pilot program - report 29‑4‑1006
Repeal of part 29‑4‑1101
Short title 29‑4‑1102
Legislative declaration 29‑4‑1103
Definitions 29‑4‑1104
Middle-income housing authority - creation - board of directors - meetings - records - tax exempt - audit - report 29‑4‑1105
General powers 29‑4‑1106
Additional powers - affordable workforce housing projects 29‑4‑1107
Powers of the board - selection of projects - ownership - report 29‑4‑1108
Relationship of authority and other jurisdictions 29‑4‑1109
Bonds 29‑4‑1110
Agreement of the state not to limit or alter rights of obligees 29‑4‑1111
Issuance of funds to the authority 29‑4‑1112
No action maintainable 29‑4‑1113
Judicial examination of powers, acts, proceedings, or contracts of the authority 29‑4‑1114
This part 11 not a limitation of powers 29‑4‑1115
Construction of this part 11
Green check means up to date. Up to date

Current through Fall 2024

§ 29-4-1003’s source at colorado​.gov