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SB19-138

Bond Requirements For Public Projects Using Private Financing

Concerning bonding requirements for contractors that are a party to certain public-private initiatives.
Session:
2019 Regular Session
Subjects:
Local Government
State Government
Bill Summary

Contract performance and payment bonds. Under current law, when a person, company, firm, corporation, or contractor (contractor) enters into a contract with a county, municipality, school district, or, in some instances, any other political subdivision of the state, to perform work in connection with a project that has specified characteristics, the contractor is required to execute performance bonds and payment bonds.

The act specifies that some of these bonding requirements apply to certain construction contracts situated or located on publicly owned property using public or private money or public or private financing.


(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

Pursuant to HJR20-1007, the Second Regular Session of the 72nd General Assembly is Temporarily Adjourned until 10:00 a.m., Monday, March 30, 2020. 

COVID-19 Resources

Temporary Guidelines for Review and Comment Meetings

The legislature will meet in limited session on Monday, March 30th. The Capitol will be open for the duration of the session for those with essential business related to the session. The building will not be available for public tours. People without essential business are encouraged to access the session through the General Assembly website and Colorado Channel.  Anybody with essential business related to the session will be required to practice appropriate social distancing measures.