Colorado Initiative 109 (2008)
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Initiative 109 or the Real Estate Broker Compensation Initiative would limit commissions paid to real estate brokers to not more than 6% of the first $250,000, not more than 3% of amounts greater than $250,000 but less than $500,000, not more than 1% of amounts over $500,000, and in no cases could amounts exceed $500 per hour the broker devoted to the transaction.
The Colorado Trial Lawyers Association agreed to withdraw this measure on May 6, 2008—as well as the eight others it filed in response to a measure to limit attorney fees—when proponents of that measure (the Attorney Fees Initiative) agreed to also withdraw.[1]
This measure is a citizen-initiated state statute.
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Supporters
The measure was filed by the Colorado Trial Lawyers Association, as part of a group of nine initiatives that are intended to "improve the lives of working families and consumers in Colorado," according to John Sadwith, executive director of the Colorado Trial Lawyers Association.[2]
"For too long corporate interests have been put ahead of consumer interests in this state," Sadwich said. "The initiatives filed shift the balance of fairness back to the consumer. Real people in this state deserve a break."[2]
The proposals are believed to be a response to a ballot measure filed earlier this year by former State Legislator Mark Hillman and what Hillman calls a coalition of business interests and grass roots activists. Hillman's proposed initiative would limit attorney's contingency fees in civil court judgments.[2]
One of the measures filed by Sadwith and attorney Scott Wolfe imposes increased state taxes on federal farm subsidies, of which Hillman is reportedly a recipient.[2]
The nine initiatives that were filed as a group target doctors, real estate brokers, corporate executives, and homebuilders. The other eight initiatives are:
- Initiative 104
- Initiative 105
- Initiative 106
- Initiative 107
- Initiative 108
- Initiative 110
- Initiative 111
- Initiative 112
Opponents
Douglas Friednash, a Denver lawyer who has been critical of the ease with which such measures can make it on the ballot, called the measures "Draconian and disengenuous." He said the measures "go far beyond what the trial lawyers ought to be concerned about."[2]
Status
The measure is awaiting its Review and Comment hearing, scehduled for May 7, 2008. Supporters cannot start circulating petitions until the Title Board had set a title for the measure and its petition form has been approved.
See also
- Procedures for qualifying an initiative in Colorado
- Laws governing the initiative process in Colorado
- Campaign finance requirements for Colorado ballot measures
- Colorado 2008 ballot measures
- Petition drive deadlines in 2008
- Colorado signature requirements
External links
References
- ↑ Denver Business Journal: "Trial lawyers, opponents stand down on ballot issues," May 7, 2008
- ↑ 2.0 2.1 2.2 2.3 2.4 Denver Business Journal: "Battle raging again with dueling Colorado ballot initiatives," April 24, 2008
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