CO HB1171

Requires the state transportation commission to submit a ballot question to Colorado voters in November 2017 to authorize issuance of up to $3.5 billion in additional transportation revenue anticipation notes (TRANs) with a maximum repayment cost of $5 billion.

Note proceeds can only be used for specified Tier 1 transportation projects identified in the 2016 development program, with a maximum 20-year repayment term and no prepayment penalties.

Dedicates 10% of state sales and use tax net revenue (effective July 1, 2017) to the highway users tax fund for TRAN payments and transportation projects, and 1% (less $10 million) to the capital construction fund.

Requires the transportation commission to pledge annually to allocate legally available money under its control for TRAN payments exceeding general assembly appropriations until notes are fully repaid.

Imposes contract award requirements for TRANs-funded projects, including restrictions on penalizing design-build contractors for lack of experience and public posting of winning bids and competitor proposals on the department website.