CO HB1012

Adds subsection (4)(a)(III) to Colorado Revised Statutes 24-82-1303 regarding lease-purchase agreements for capital construction and transportation projects.

Allows the Executive Director of the Department of Personnel to use cost savings from controlled maintenance projects that come in below their earmarked budget amounts to cover additional costs of other controlled maintenance projects funded from the same lease-purchase agreements.

Caps the Executive Director's total authority to reallocate savings at $113,852,921.

Takes effect at 12:01 a.m. on the day following the expiration of the 90-day period after final adjournment of the general assembly (August 2, 2019, if adjournment sine die is on May 3, 2019), unless subject to a referendum petition.

If a referendum petition is filed within the 90-day period, the act will not take effect unless approved by voters at the November 2020 general election.