Colorado 2023 Regular Session Status: Introduced

SB 23-047 — Confirmed Funds For Closing And Settlement Process

Last action — Senate Committee on Business, Labor, & Technology Postpone Indefinitely

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  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2023 Regular Session. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

The bill modifies the closing and settlement procedure for real estate transactions to ensure that the funds intended to be used at closing have been: Received and deposited into a trust account at least one business day before the scheduled closing; and Confirmed as deposited and available for immediate disbursement upon the settlement and closing of the real estate transaction. The bill takes effect September 1, 2024. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Bill Text

Amendments

1 amendment

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Action History

  1. Senate Committee on Business, Labor, & Technology Postpone Indefinitely

  2. Introduced In Senate - Assigned to Business, Labor, & Technology

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 100 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (100)

100 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 23-047 do?
The bill modifies the closing and settlement procedure for real estate transactions to ensure that the funds intended to be used at closing have been: Received and deposited into a trust account at least one business day before the scheduled closing; and Confirmed as deposited and available for immediate disbursement upon the settlement and closing of the real estate transaction. The bill takes effect September 1, 2024. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
Who sponsors SB 23-047?
SB 23-047 is sponsored by Van Winkle.
What is the current status of SB 23-047?
This bill died with 2023 Regular Session. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 23-047?
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Last checked for changes 3 months ago · updated continuously

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