SB17-216

SB17-216 - Sunset Continue Fair Debt Collections Act

Passed/Signed into Law
Concerning continuation of the regulation of collection agencies under the 'Colorado Fair Debt Collection Practices Act', and, in connection therewith, implementing the recommendations of the 2016 sunset report of the department of regulatory agencies and making an appropriation.

Sunset Process - Senate Judiciary Committee. The bill implements the recommendations of the sunset review and report on the continuation of the 'Colorado Fair Debt Collection Practices Act' (Act) by:

 

  • Continuing the Act through 2028;
  • Defining a 'debt buyer' as a person who engages in the business of purchasing debt for collection purposes;
  • Creating requirements for debt collectors and collection agencies that bring legal actions on debts owned;
  • Defining what is expected of a collection agency that purchases, sells, or attempts to collect on a purchased debt;
  • Clarifying that the statute of limitations for private actions and actions by the administrator of the Act is 2 years;
  • Repealing the collection agency board; and
  • Requiring the administrator of the 'Uniform Consumer Credit Code' to prepare a report concerning the Act.
    (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

     

Latest update: June 1, 2017
06/01/2017 - Governor Signed
05/19/2017 - Sent to the Governor
05/19/2017 - Signed by the Speaker of the House
05/18/2017 - Signed by the President of the Senate
05/04/2017 - Senate Considered House Amendments - Result was to Concur - Repass
05/03/2017 - House Third Reading Passed - No Amendments
05/02/2017 - House Second Reading Special Order - Passed with Amendments - Committee
05/02/2017 - House Committee on Appropriations Refer Amended to House Committee of the Whole
04/26/2017 - House Committee on Finance Refer Amended to Appropriations
04/20/2017 - Introduced In House - Assigned to Finance
04/20/2017 - Senate Third Reading Passed - No Amendments
04/19/2017 - Senate Second Reading Passed with Amendments - Committee, Floor
04/18/2017 - Senate Second Reading Laid Over Daily - No Amendments
04/13/2017 - Senate Committee on Appropriations Refer Amended - Consent Calendar to Senate Committee of the Whole
04/10/2017 - Senate Committee on Judiciary Refer Amended to Appropriations
03/10/2017 - Introduced In Senate - Assigned to Judiciary