Colorado HB1274 allows state agencies to pay up to 25% of contract value to nonprofit grantees immediately upon contract execution or renewal.

Colorado HB1274 amends state law to allow state agencies to dispense up to 25% of the total value of payments under a contract to a nonprofit grantee immediately upon executing or renewing the contract. The grantee can only use these funds for expenses related to the contract. The bill also allows agencies that already dispense such payments to continue doing so. If the State Controller denies a waiver request, the agency must provide a written explanation to the grantee. The grantee must comply with all reporting requirements specified in the contract.

Colorado HB1274 allows state agencies to pay up to 25% of contract value to nonprofit grantees immediately upon contract execution or renewal.

Colorado HB1274 amends state law to allow state agencies to dispense up to 25% of the total value of payments under a contract to a nonprofit grantee immediately upon executing or renewing the contract. The grantee can only use these funds for expenses related to the contract. The bill also allows agencies that already dispense such payments to continue doing so. If the State Controller denies a waiver request, the agency must provide a written explanation to the grantee. The grantee must comply with all reporting requirements specified in the contract.