Clarification on Excessive Public Construction Bond Claim Penalties
This proposed bill would clarify penalties for excessive claims made by public construction bondholders. Before this change, the rules regarding penalties were unclear or inconsistently applied. The new clarification aims to provide a clearer framework for determining and applying penalties when bondholders make excessive claims against public projects. This affects public construction contractors and their bonding companies who work on state-funded projects in Colorado. Since the effective date is not specified, it will take effect once signed into law.
The previous rules were unclear or inconsistently applied regarding penalties for excessive claims made by public construction bondholders.
This proposed bill would clarify penalties for excessive claims made by public construction bondholders. Before this change, the rules regarding penalties were unclear or inconsistently applied. The new clarification aims to provide a clearer framework for determining and applying penalties when bondholders make excessive claims against public projects. This affects public construction contractors and their bonding companies who work on state-funded projects in Colorado. Since the effective date is not specified, it will take effect once signed into law.
RELATED CHANGES
May 5, 2026