HB 1311 CO
Retainage Surety Bond Construction Contracts
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Summary
This Act authorizes contractors on construction projects to submit a retainage surety bond in place of allowing property owners to withhold a portion of payment as retainage. Under the existing 5% retainage limit for contracts of $150,000 or more, property owners must accept a retainage bond that meets the act's standards and may not withhold retainage funds if such a bond is provided. Subcontractors may require contractors to submit a bond for the subcontractor's portion of retainage, and contractors may require subcontractors to submit similar bonds. The act provides an alternative payment arrangement for construction contracts that allows contractors to use surety bonds instead of having funds withheld.
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 Colorado law, a private property owner is prohibited from retaining more than 5% of a construction contract as retainage if the contract is at least $150,000. The act authorizes a contractor to submit a retainage bond in lieu of withholding retainage, and a private property owner must accept the retainage bond and not withhold the retainage if the retainage bond meets the act's standards. A subcontractor may require the contractor to submit a bond in lieu of retainage for the subcontractor's portion of the retainage. The contractor may require the subcontractor to submit a like bond to the contractor.(Note: This summary applies to this bill as enacted.)
Sponsors (4)
- M. Carter Democratic · sponsor
- M. Duran Democratic · sponsor
- S. Bright Republican · sponsor
- M. Snyder Democratic · sponsor
14 coauthors / cosponsors
- R. Gonzalez Republican · cosponsor
- B. Titone Democratic · cosponsor
- J. Amabile Democratic · cosponsor
- A. Benavidez Democratic · cosponsor
- J. Coleman Democratic · cosponsor
- L. Cutter Democratic · cosponsor
- T. Exum Democratic · cosponsor
- L. Frizell Republican · cosponsor
- J. Gonzales Democratic · cosponsor
- I. Jodeh Democratic · cosponsor
- C. Kipp Democratic · cosponsor
- C. Kolker Democratic · cosponsor
- R. Rodriguez Democratic · cosponsor
- K. Wallace Democratic · cosponsor
Action history (12)
- May 7, 2026 Governor Signed · executive
- Apr 28, 2026 Sent to the Governor · executive
- Apr 28, 2026 Signed by the President of the Senate · upper
- Apr 28, 2026 Signed by the Speaker of the House · lower
- Apr 7, 2026 Senate Third Reading Passed - No Amendments · upper
- Apr 6, 2026 Senate Second Reading Passed - No Amendments · upper
- Mar 31, 2026 Senate Committee on Finance Refer Unamended to Senate Committee of the Whole · upper
- Mar 25, 2026 Introduced In Senate - Assigned to Finance · upper
- Mar 23, 2026 House Third Reading Passed - No Amendments · lower
- Mar 20, 2026 House Second Reading Special Order - Passed with Amendments - Floor · lower
- Mar 18, 2026 House Committee on Business Affairs & Labor Refer Unamended to House Committee of the Whole · lower
- Mar 2, 2026 Introduced In House - Assigned to Business Affairs & Labor · lower
Full text
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