(April 2) – A bill to increase transparency and accountability surrounding oil and gas operations passed the House today with a unanimous vote.
HB13-1268, sponsored by Rep. Dominick Moreno (D-Commerce City), requires sellers of real estate to disclose any relevant information about mineral rights associated with the property, including the presence or potential for oil and gas drilling in the area.
Sellers of new homes are already required to make such disclosures; the bill would extend the rules to the resale market. The Colorado Association of Home Builders and the Colorado Oil and Gas Association testified in committee in favor of the bill, and today’s vote was 62-0.
“I’m pleased by the bipartisan support for this bill,” Rep. Moreno said. “It’s a win-win — it will help protect buyers of property from unwelcome surprises, and it will also protect sellers from future liability.”