CO HB1266

Requires all new or amended information technology budget requests submitted to the Joint Technology Committee to clearly identify and quantify anticipated administrative and operating efficiencies, program enhancements, and service expansion through cost-benefit analyses and return on investment calculations.

Establishes a multi-step approval process for information technology budget overexpenditures: Office of State Planning and Budgeting approval, Joint Technology Committee consideration, and Joint Budget Committee approval by majority vote.

Creates an Information Technology Capital Account within the Capital Construction Fund to receive appropriated funds for information technology projects, with unappropriated balances remaining in the account and reverting unexpended amounts back to the account at fiscal year end.

Defines "information technology" as technology with majority of components having at least five years useful life, excluding personal computer replacement or maintenance unless part of a larger system upgrade.

Prohibits state agencies and higher education institutions from using unexpended information technology capital appropriations for projects beyond the original scope or design without further Joint Technology Committee approval.