A Bill for an Act
Page 1, Line 101Concerning the inapplicability of the economic loss rule to
Page 1, Line 102certain claims brought by a residential property
Page 1, Line 103owner against a construction professional.
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 clarifies that construction professionals owe an independent tort duty of care to construct residential homes in a non-defective and reasonable manner, and that this duty is owed equally to original and subsequent residential home purchasers.
Page 2, Line 1Be it enacted by the General Assembly of the State of Colorado:
Page 2, Line 2SECTION 1. In Colorado Revised Statutes, 13-20-806, add (8) as follows:
Page 2, Line 313-20-806. Limitation of damages. (8) Notwithstanding any
Page 2, Line 4provision of law to the contrary, a construction professional
Page 2, Line 5owes an independent tort duty to an original residential home purchaser and a subsequent residential home purchaser.
Page 2, Line 6SECTION 2. Act subject to petition - effective date. This act
Page 2, Line 7takes effect at 12:01 a.m. on the day following the expiration of the
Page 2, Line 8ninety-day period after final adjournment of the general assembly; except
Page 2, Line 9that, if a referendum petition is filed pursuant to section 1 (3) of article V
Page 2, Line 10of the state constitution against this act or an item, section, or part of this
Page 2, Line 11act within such period, then the act, item, section, or part will not take
Page 2, Line 12effect unless approved by the people at the general election to be held in
Page 2, Line 13November 2026 and, in such case, will take effect on the date of the official declaration of the vote thereon by the governor.