HB 1388 CO
Repeal Bond Assistance Program Fund Transfer
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Summary
This bill would transfer any unexpended and unencumbered balance from Colorado's bond assistance program cash fund to the state general fund on June 30, 2026. The bond assistance program, which provides assistance to historically underutilized small businesses in obtaining surety bonds for state procurement opportunities, would be repealed effective December 1, 2027. Any remaining encumbered funds would continue to be used only to fulfill existing obligations.
AI-generated plain-language summary of the bill (from the OpenStates abstract — no full text available yet) — neutral, and may be imperfect.
Official abstract
Under existing law, the department of personnel administers the 'state procurement equity program', which includes a bond assistance program to help historically underutilized businesses that are small businesses offset the costs of obtaining a surety bond that is required for a solicitation for a state procurement opportunity. The bond assistance program is funded through the bond assistance program cash fund. The act transfers the unexpended and unencumbered balance of the bond assistance program cash fund to the general fund on June 30, 2026. The department must use any encumbered balance that remains in the fund after the transfer only to fulfill the obligations encumbering the balance of the fund. The act repeals the bond assistance program, effective December 1, 2027.(Note: This summary applies to this bill as enacted.)
Sponsors (6)
- E. Sirota Democratic · sponsor
- R. Taggart Republican · sponsor
- J. Amabile Democratic · sponsor
- J. Bridges Democratic · sponsor
- K. Brown Democratic · sponsor
- B. Kirkmeyer Republican · sponsor
Action history (14)
- Jun 1, 2026 Governor Signed · executive
- May 29, 2026 Signed by the President of the Senate · upper
- May 29, 2026 Signed by the Speaker of the House · lower
- May 28, 2026 Sent to the Governor · executive
- Apr 16, 2026 Senate Third Reading Passed - No Amendments · upper
- Apr 15, 2026 Senate Second Reading Special Order - Passed - No Amendments · upper
- Apr 14, 2026 Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole · upper
- Apr 13, 2026 Introduced In Senate - Assigned to Appropriations · upper
- Apr 11, 2026 House Third Reading Passed - No Amendments · lower
- Apr 10, 2026 House Third Reading Laid Over Daily - No Amendments · lower
- Apr 9, 2026 House Second Reading Special Order - Passed - No Amendments · lower
- Apr 8, 2026 House Second Reading Special Order - Laid Over Daily - No Amendments · lower
- Apr 6, 2026 House Committee on Appropriations Refer Unamended to House Committee of the Whole · lower
- Apr 2, 2026 Introduced In House - Assigned to Appropriations · lower
Full text
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