Legislative declaration

(1) The general assembly finds and declares that: (a) Colorado faces significant challenges accessing and leveraging the funding needed for critical infrastructure projects spanning from housing to water, roads to broadband, and clean energy; (b) The state acknowledges and commends the ongoing work by existing infrastructure authorities to address infrastructure needs while recognizing the growing need to address these infrastructure deficiencies by leveraging capital and financing projects that will create jobs, promote economic development, and protect the environment; (c) It is imperative for the state to take proactive measures to allocate resources efficiently and effectively toward critical infrastructure projects that not only meet immediate needs but also lay the foundation for sustainable long-term development; (d) By prioritizing infrastructure projects with project labor agreements, prevailing wage requirements, and high labor standards that ensure fair compensation and retirement security, the state not only enhances the livelihoods of its workers but also stimulates consumer spending, fosters financial stability, and drives long-term economic growth; (e) When a service contract expires and a follow-on contract is awarded for the same or similar services, the state's procurement interests in economy and efficiency are best served when the successor contractor or subcontractor hires the predecessor's employees, thus avoiding displacement of these employees; (f) Using a carryover workforce reduces disruption in the delivery of services during the period of transition between contractors, maintains physical and information security, and provides the state with the benefits of an experienced and well-trained workforce that is familiar with the state's personnel, facilities, and requirements; (g) The establishment of a dedicated financing authority, the building urgent infrastructure and leveraging dollars authority, will provide the necessary framework to leverage capital and offer innovative financing for critical infrastructure projects; (h) The building urgent infrastructure and leveraging dollars authority is specifically formulated to leverage federal dollars, such as funding available under the bipartisan infrastructure law, and to creatively maximize state funds for vital infrastructure needs and has safeguards to prevent the privatization of public assets; and (i) Through strategic investments and collaborative partnerships, the building urgent infrastructure and leveraging dollars authority will play a pivotal role in accelerating the implementation of vital infrastructure initiatives, thereby enhancing the overall resilience, livability, and competitiveness of the state's communities.