CO HB1383

Expands bonding requirements to apply to all construction contracts on public real property using any combination of public or private money and public or private financing, not just government-funded projects.

Requires contractors working on public property projects to execute performance bonds and payment bonds regardless of whether the project is funded with public or private financing.

Exempts contracts for development, restoration, or enhancement of wildlife habitat from the bonding requirements.

Applies to contracts with private entities for construction, repair, maintenance, or improvement of buildings, roads, bridges, and other public works on public real property.

Takes effect August 8, 2018, unless subject to a referendum petition, in which case approval by voters in November 2018 is required.