Location: SCR 352
Final
BILL SUMMARY for SB17-211
SENATE COMMITTEE ON TRANSPORTATION
BILL SUMMARY for SB17-211
SENATE COMMITTEE ON TRANSPORTATION
| Votes: View--> | Action Taken: |
| Adopt amendment L.002 (Attachment C). The motion p Refer Senate Bill 17-211, as amended, to the Commi |
Pass Without Objection PASS |
02:25 PM -- SB17-211
Senator Scott, prime sponsor, presented Senate Bill 17-211. When a contractor submits a bid for a construction project anticipated to cost more than $50,000, state law almost always requires that the bid proposal include a bid security bond for 5 percent of the contract price. Bid bonds are used to ensure that contractors submit serious bid proposals. A bid security bond is a guarantee made by an insurance company that a bidder has the capacity to complete a project if his or her bid is selected during the bid process. The bill requires a state agency to accept the amount of a bid security bond at face value, if such a bond is a prerequisite to responding to a competitive solicitation for a construction project.
Senator Scott distributed amendment L.002 (Attachment C).
02:33 PM -- Wes Butorac, representing Flood Peterson, testified in support of the bill.
02:37 PM -- Scott Rons, representing Am Trust Surety, testified in support of the bill. He responded to questions from the committee.
02:42 PM -- Matt Huggins, representing Credit Suisse, testified in support of the bill. He responded to questions from the committee.
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| BILL: | SB17-211 | |
| TIME: | 02:50:05 PM | |
| MOVED: | Scott | |
| MOTION: | Adopt amendment L.002 (Attachment C). The motion passed without objection. | |
| SECONDED: | |
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VOTE |
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Scott |
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Todd |
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Zenzinger |
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Cooke |
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Baumgardner |
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YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection
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02:52 PM -- Andy Karsian, representing the Colorado Department of Transportation, responded to questions from the committee.
02:56 PM
Committee discussion ensued.
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| BILL: | SB17-211 | |
| TIME: | 03:02:36 PM | |
| MOVED: | Scott | |
| MOTION: | Refer Senate Bill 17-211, as amended, to the Committee of the Whole. The motion passed on a vote of 5-0. | |
| SECONDED: | |
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VOTE |
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Scott |
Yes |
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Todd |
Yes |
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Zenzinger |
Yes |
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Cooke |
Yes |
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Baumgardner |
Yes |
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Final YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS
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03:02 PM
The committee adjourned.