CO HB1233

Establishes a 5% price preference for resident bidders on state construction contracts, allowing state agencies to award contracts to the lowest resident bidder if their bid does not exceed the lowest nonresident bid by more than 5%

Defines "resident bidder" as a person, partnership, corporation, or joint venture authorized to do business in Colorado that either maintains its principal place of business in Colorado, or maintains a Colorado place of business and paid Colorado unemployment compensation taxes in at least 75% of the eight quarters immediately prior to bidding

Requires resident bidders seeking the preference to certify their residency status and provide documentation to the contracting agency, which may rely in good faith on such certification

Prohibits resident bidders awarded contracts under this preference from subcontracting more than 20% of the contract work to nonresident contractors

Allows state agencies to waive the resident bidder preference if compliance would conflict with federal law requirements, requiring the agency to make a written determination and publicly post it for review before awarding the contract

Applies to contracts awarded on or after January 1, 2012, with the act taking effect August 10, 2011 unless subject to referendum petition