CO SB287

Creates the Technology Risk Prevention and Response Fund in the state treasury to address information technology emergencies and at-risk systems.

Defines "information technology emergency" as an immediate threat to public health, welfare, or safety requiring IT equipment or services, excluding budget cycle issues or potential funding losses.

Authorizes the Office of Information Technology to spend up to 50% of the fund's annual beginning balance for one-time IT costs including emergencies, compliance with IT standards, and preventing technological debt from failure, outdated equipment, security risks, or audit recommendations.

Requires the Office of Information Technology to submit written reports to the Joint Budget Committee and Joint Technology Committee by November 1, 2022, and quarterly thereafter detailing all fund expenditures, purposes, amounts, dates, benefiting agencies, and fund balance analysis.

Increases the limit on intradepartmental transfers between principal state departments and the Governor's office from $5 million to $10 million and appropriates $2,000,000 to the fund for fiscal year 2021-22.