Loading chat...
CO HB1311
Bill
Status
Introduced
3/2/2026
Primary Sponsor
Michael Carter
Click for details
AI Summary
- Contractors and subcontractors may submit a surety bond (not exceeding 5% of money earned) in lieu of having retainage withheld from construction contract payments
- Property owners and contractors must accept compliant retainage bonds and release the corresponding retainage funds
- Retainage bonds must be issued by Colorado-licensed insurers; property owners may require a minimum A.M. Best financial strength rating up to "A-"
- When a property owner accepts a bond from a contractor, the contractor must accept equivalent ("like") bonds from subcontractors seeking retainage release
- Retainage bonds and their proceeds are subject to claims and liens with the same priority as existing mechanic's lien laws; applies to contracts created on or after August 12, 2026
Legislative Description
Retainage Surety Bond Construction Contracts
Labor & Employment
Last Action
Introduced In House - Assigned to Business Affairs & Labor
3/2/2026
Committee Referrals
Business Affairs and Labor3/2/2026
Full Bill Text
No bill text available