June 5, 2023, Governor Polis signed legislation concerning disclosures to buyers about rights to be informed about testing of property being purchased.
Legislation states:
Each contract of sale for residential real property must contain the following disclosure in bold-faced type that is clearly legible in substantially the same form as is specified as follows: the Colorado Department of Public Health and Environment strongly recommends that all home buyers have an indoor radon test performed before purchasing residential real property and recommends having the radon levels mitigated if elevated radon concentrations are found. Elevated radon concentrations can be reduced by a radon mitigation professional. Residential real property may present exposure to dangerous levels of indoor radon gas that may place the occupants at risk of developing radon-induced lung cancer. Radon, a class a human carcinogen, is the leading cause of lung cancer in nonsmokers and the second leading cause of lung cancer overall. The seller of residential real property is required to provide the buyer with any known information on radon test results of the residential real property.
The legislation also addresses warning statements, actions of the Real Estate Commission, and other stipulations. See the bill at https://leg.colorado.gov/sites/default/files/2023a_206_signed.pdf
Effective dates are as follows:
SECTION 7. Act subject to petition - effective date - applicability. (1) This act takes effect at 12:01 a.m. on the day following the expiration of the ninety-day period after final adjournment of the general assembly; except that, if a referendum petition is filed pursuant to section 1 (3) of article V of the state constitution against this act or an item, section, or part of this act within such period, then the act, item, section, or part will not take effect unless approved by the people at the general election to be held in November 2024 and, in such case, will take effect on the date of the official declaration of the vote thereon by the governor.
United States