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s_tra_2017a_2017-04-04t14:01:35z1 Hearing Summary

Date: 04/04/2017

Location: SCR 352

Final

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).



17SenateTran0404AttachC.pdf17SenateTran0404AttachC.pdf



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.

BILL: SB17-211
TIME: 02:50:05 PM
MOVED: Scott
MOTION: Adopt amendment L.002 (Attachment C). The motion passed without objection.
SECONDED:
VOTE
Scott
Todd
Zenzinger
Cooke
Baumgardner
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection



02:52 PM --
Andy Karsian, representing the Colorado Department of Transportation, responded to questions from the committee.





02:56 PM



Committee discussion ensued.

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:
VOTE
Scott
Yes
Todd
Yes
Zenzinger
Yes
Cooke
Yes
Baumgardner
Yes
Final YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS







03:02 PM



The committee adjourned.








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