CO SB190

Authorizes the Colorado State Treasurer to enter into one or more lease-purchase agreements for up to nine years to finance the Colorado Financial Reporting System modernization project, with total principal not exceeding $33,000,000.

Establishes that lease-purchase agreement obligations are subject to annual General Assembly appropriation and do not constitute state debt under the Colorado Constitution.

Allows the state to receive personal property subject to the lease upon or before expiration of the agreement term and to reduce the lease term through prepayment of rental and other payments.

Requires the Governor's Office of Information Technology to report to the Joint Budget Committee and Capital Development Committee on project progress in a format and schedule specified by those committees.

Permits the State Controller to waive fiscal rules deemed incompatible or inapplicable to the lease-purchase agreements and ancillary agreements.