Bill > SB081

This bill establishes the Building Urgent Infrastructure and Leveraging Dollars (BUILD) Authority, a new state financing entity designed to support critical infrastructure projects in Colorado. The authority will be governed by a 13-member board and have the power to issue bonds, provide financing, and support infrastructure projects across various sectors including transportation, housing, water, energy, and economic development. Key provisions include creating multiple funds (an operational fund and an eligible project revolving fund), establishing specific criteria for project selection that prioritize projects with project labor agreements, local hiring commitments, and apprenticeship programs, and ensuring the authority operates with transparency and good faith. The bill specifies that the authority is not a state agency and cannot create state debt, but can leverage federal and private funding to support infrastructure initiatives. Projects will be evaluated based on factors like pension fund matching, local workforce development, labor standards, and community benefits. The authority is exempt from certain taxation and must submit annual reports to the state legislature. The bill also modifies existing statutes to incorporate the new authority into state legal frameworks, and allows the state treasurer to use security token offerings for state capital financing.