Scott Named Friend of the Colorado Consumer

Colorado Consumer Coalition Recognizes Scott for Efforts to Relieve Soaring Power Bills

DENVER—The Colorado Consumer Coalition named Rep. Ray Scott, R-Grand Junction, as a Friend of the Colorado Consumer for 2011. Scott’s award comes on the heels House Bill 1271, which challenged a controversial summertime tiered power rate introduced last summer.

House Bill 1271 would have required utility companies charging residential tiered rates to file a report with the Public Utilities Commission to evaluate the estimated impact on the average ratepayer’s power use.

Scott’s bill passed the House, but was killed in the Senate State, Veterans, and Military Affairs Committee.

“I’m honored to receive recognition from the Colorado Consumer Coalition,” said Scott, after hearing of his award. “It’s an outstanding organization and I’m proud to be associated with the efforts they make on behalf of Coloradan families.”

“With lawmakers like Ray Scott in their corner, Colorado’s consumers know they will be heard at the State Capitol,” said Colorado Consumer Coalition Director Bill Ray in a press release. “And we’re confident they’ll ultimately prevail.”

For more information about the Colorado Consumer Coalition, please visit www.coconsumers.org.

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Scott’s First Bill Signed into Law

House Bill 1022 will help get Colorado’s Housing Market Back on Track

DENVER—State Rep. Ray Scott’s first bill was signed into law today by Gov. John Hickenlooper. The measure, House Bill 1022, will help Colorado’s economy, especially in rural areas, by supporting seller financing for residential property.

“I was elected to help get our economy back on track,” said Scott, a Grand Junction Republican. “A key component to our state economic recovery is to revive the housing market.”

HB 1022 exempts property owners providing seller financing on up to three residential properties in a 12 month period from having to be licensed as mortgage loan originators.

Current law places more restrictions on seller financing than what the federal government dictates. Presently, a large number of resort, farm and ranch properties are unable to secure conventional financing because they exceed Federal Housing Administration (FHA) loan limits or are considered too risky by lending institutions.

“With credit tight, and too many homes on the market, especially in rural areas, it’s vital we find a responsible way to absorb the excess inventory,” Scott said.

“We can’t get our economy back on track without a recovery in the housing market,” added Scott. “I decided to carry this bill because it didn’t make sense for the state government to put unnecessary restrictions upon willing buyers and sellers.”

HB 1022 passed the General Assembly unanimously.

The bill will go into effect on August 10, 2011, assuming the General Assembly adjourns as scheduled.

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