HB 15-1046 Summary

• Authorizes the Department of Transportation Executive Director to waive statutory contract cost estimate limits when awarding highway project contracts with fewer than three bidders.

• Allows awards exceeding the department's cost estimate if the Executive Director determines in writing that it is in the best financial, economic, or other interest of the state to do so.

• Requires the written determination to be included in the contract file and posted publicly on the department's website.

• Mandates the department report annually to joint committees of reference on each waiver granted, including reasons for the award and estimated cost savings achieved.

• Automatically repeals the waiver authority on July 1, 2018.