SB 25-035
Fiscal Note
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
SB 25-035: LIMITATION ON ACTIONS AGAINST APPRAISERS
Prime Sponsors:
Sen. Frizell; Michaelson Jenet
Rep. Clifford; Weinberg
Published for: Senate Business, Labor & Tech
Drafting number: LLS 25-0368
Fiscal Analyst:
John Armstrong, 303-866-6289
john.armstrong@coleg.gov
Version: Initial Fiscal Note
Date: January 22, 2025
Fiscal note status: The fiscal note reflects the introduced bill.
Summary Information
Overview. The bill changes the statute of limitation for claims against real estate appraisers.
Types of impacts. The bill is projected to affect the following areas on an ongoing basis:
Minimal State Workload Local Government
Appropriations. No appropriation is required
Table 1
State Fiscal Impacts
Type of Impact
Budget Year
FY 2025-26
Out Year
FY 2026-27
State Revenue $0 $0
State Expenditures $0 $0
Transferred Funds $0 $0
Change in TABOR Refunds $0 $0
Change in State FTE 0.0 FTE 0.0 FTE
Page 2
January 22, 2025 SB 25-035
Summary of Legislation
Under current law, the statute of limitation for claims against a real estate appraiser begins when
the party discovers a defect in the appraisal. The bill requires any legal action to be entered
within five years of the appraisal report. The bill specifies that actions for fraud against real
estate appraisers must be entered within three years and that discriminatory housing practices
against real estate appraisers must be entered within one year.
State and Local Revenue and Expenditures
The bill may result in fewer opportunities for plaintiffs in civil suits against real estate appraisers
to file a claim. To the extent that fewer cases are filed, the trial courts may have less workload
and lower court fee revenue. State revenue from filing fees is subject to TABOR. Because civil
suits against real estate appraisers are currently rare, any reduction to trial court workload and
revenue is assumed to be minimal. The same impact is expected for the Denver County Courts.
The bill will cause minimal workload in the Division of Property Taxation within the Department
of Local Affairs to update manuals and training materials where appropriate.
Effective Date
The bill takes effect 90 days following adjournment of the General Assembly sine die, assuming
no referendum petition is filed.
State and Local Government Contacts
Counties
County Assessors
Judicial
Law
Local Affairs
Regulatory Agencies
The revenue and expenditure impacts in this fiscal note represent changes from current law under the bill for each
fiscal year. For additional information about fiscal notes, please visit the General Assembly website.