CO SB164

Creates bipartisan task force (LAC task force) of 12 members appointed by legislative audit committee by July 1, 2010, to review executive branch departments and identify redundancies, abuse, fraud, and cost savings opportunities.

LAC task force must report findings and recommendations to legislative audit committee by August 5, 2011, with committee then recommending legislation to general assembly based on those findings.

Creates separate bipartisan task force (COLS task force) of 12 members appointed by committee on legal services by July 1, 2010, to review state's regulatory system and make recommendations on regulatory advantages, number of businesses regulated, and compliance costs.

COLS task force must report to committee on legal services by August 5, 2011, with committee then recommending legislation to general assembly based on findings regarding regulatory system efficiencies and cost savings.

Task force members serve without compensation but are reimbursed for expenses; legislative council staff and state auditor's office provide support; task forces may accept federal grants and private donations for operational costs.