CO HB1422

Increases the cost threshold for "capital renewal" projects from $2 million to $4.7 million in Colorado Revised Statutes 24-30-1301.

Requires the Department to adjust the capital renewal cost threshold for inflation every three years beginning January 1, 2029, using the U.S. Department of Labor Bureau of Labor Statistics Producer Price Index for construction.

Directs the Department to publish adjusted capital renewal cost thresholds on its website.

Applies to controlled maintenance projects of real property commencing on or after the effective date of the act.

Takes effect 90 days after final adjournment of the general assembly, unless subject to a referendum petition requiring voter approval at the November 2024 general election.