CO HB1431

Creates the small business endeavor program within the Colorado Office of Economic Development to expand and diversify businesses competing for state government contracts.

Requires the office to determine participation criteria using North American Industry Classification System codes and Colorado market conditions, establish application procedures, and maintain a website list of approved participants.

Allows small businesses with local government certifications to be automatically recognized as program participants upon request.

Mandates the office provide best practices guidance to participating small businesses, training on conducting business with governmental bodies, and advice to state agencies on small business contracting opportunities.

Requires annual reporting to the General Assembly beginning November 2018 with demographic data on participants and contract award information including total number of contracts, dollar amounts, percentages of overall contracting, and bid response rates by agency.