HB 1388: Repeal Bond Assistance Program Fund Transfer - Colorado

Final Act → Signed Act · 4 edits · Jun 3, 2026

MODERATE

This bill repeals the Bond Assistance Program administered by the Department of Personnel and transfers any remaining cash fund balance to the state's General Fund. It also updates the timeline for transferring unexpended funds to June 30, 2026, and repeals the specific subsection governing this transfer effective December 1, 2027. The changes simplify the program by eliminating its dedicated funding mechanism and administrative structure.

Scope change

The bill's scope changes from maintaining a standalone Bond Assistance Program to repealing it entirely and integrating its remaining funds into the General Fund.

FISCAL

The Bond Assistance Program and its associated cash fund are repealed and removed from the statutes.

TIMELINE

The deadline for transferring the unexpended balance of the Bond Assistance Program cash fund to the General Fund is set to June 30, 2026.

REQUIREMENT

Any encumbered balance remaining in the fund after the transfer must be used solely to fulfill existing obligations.

Subsection (2)(b) regarding the transfer of funds is repealed, effective December 1, 2027.

Rerevised → Final Act · 4 edits · May 26, 2026

MODERATE

This bill repeals the State Procurement Equity Program's bond assistance fund and transfers its remaining balance to the state's General Fund. The repeal takes effect on December 1, 2027, while the transfer of unspent funds occurs on June 30, 2026. This change eliminates future funding for small businesses that previously received help paying for surety bonds required to bid on state contracts.

Scope change

The bill removes the legal authority for the Department of Personnel to administer the bond assistance program, effectively ending the program's existence after the 2027 effective date.

FISCAL

The bond assistance program cash fund is no longer established or maintained; its remaining balance is transferred to the General Fund.

TIMELINE

A specific deadline of June 30, 2026, is set for transferring unexpended funds, and December 1, 2027, is set as the effective date for repealing the program.

ELIGIBILITY

Historically underutilized businesses will no longer be eligible for state-funded assistance to pay for surety bonds required for state procurement opportunities.

REQUIREMENT

The statutory requirements for the department to manage the bond assistance program and report on it are repealed.

Revised → Rerevised · 2 edits · Apr 16, 2026

MINOR

The bill version was updated from 'Revised' to 'Rerevised' to reflect all amendments adopted in the Second House. A new reading status was added, indicating the bill is now at the 3rd Reading Unamended in the Senate on April 16, 2026.

TIMELINE

Added a specific date (April 16, 2026) and stage (3rd Reading Unamended) to track the bill's progress in the Senate.

TECHNICAL

Updated the header text from 'Revised' to 'Rerevised' and refined the description of included amendments to clarify they were adopted in the Second House.

Reengrossed → Revised · 3 edits · Apr 15, 2026

MINOR

The bill's title and summary were updated to reflect that it has passed the Senate and is now in its third reading, rather than being in its second reading. The specific policy content regarding the repeal of the bond assistance program and the transfer of funds remains unchanged.

Scope change

The bill's scope and applicability remain unchanged; only the legislative status and version history were updated.

TIMELINE

The bill's status was updated from 'Reengrossed' to 'Revised' to indicate it includes amendments adopted on second reading in the second house.

The summary date was updated from 'April 9, 2026' to 'April 11, 2026' to reflect the bill's progression through the legislative process.

The reading status was updated from '2nd Reading Unamended' to '3rd Reading Unamended' to show the bill has advanced to its final stage before passage.

Engrossed → Reengrossed · 3 edits · Apr 11, 2026

MINOR

The bill was reengrossed to include all amendments adopted during the House of Introduction, updating the document header and summary to reflect the current legislative status. The summary note was modified to clarify that the text applies to the reengrossed version rather than the original introduction, ensuring the public understands the bill's current state.

TECHNICAL

The document header was changed from 'Engrossed' to 'Reengrossed' to accurately reflect that all amendments have been incorporated.

The bill summary note was updated to specify that the summary applies to the reengrossed version and includes a new date stamp of April 11, 2026.

A new sponsor, Brown, was added to the Senate sponsorship list.

Introduced → Engrossed · 3 edits · Apr 9, 2026

MINOR

The bill has progressed from its initial introduction to an engrossed version, meaning it has passed both the House and Senate and is ready for the Governor's signature. The primary changes are technical formatting updates, such as removing the 'Introduced' label and adding the 'Engrossed' status with amendment dates. No substantive policy changes, funding adjustments, or eligibility criteria were altered in this version.

TECHNICAL

The document header was updated to reflect the bill's current status as 'Engrossed' rather than 'Introduced', indicating it has completed the legislative process in both chambers.

Page numbers and bill identifiers were updated to remove the 'HB26-' prefix, leaving only the number '1388' in the footer.

New text was inserted to document that this version includes all amendments adopted on the second reading in the House, dated April 9, 2026.

Repeal Bond Assistance Program Fund Transfer

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