CO HB1215

Makes special purpose authorities subject to Colorado's open meetings laws and Colorado Open Records Act to the same extent as other state political subdivisions under state administrative direction.

Prohibits special purpose authorities from making loans to board members, officers, or employees; persons assenting to or participating in such loans are personally liable for the loan amount until repaid.

Allows conflicting interest transactions between authorities and covered persons if material facts are disclosed and approved by disinterested directors or members in good faith, or if the transaction is fair to the authority.

Authorizes the Governor to remove governor-appointed board members of special purpose authorities for malfeasance in office, failure to regularly attend meetings, or any other cause rendering them unfit to serve, without subjecting removal to review.

Takes effect July 1, 2011.