Section 24-92-203 - Prevailing rate of wages and other payments - specifications in solicitations and contract - repeal(1) For solicitations issued for public projects on or after January 1, 2022, before awarding any contract for a public project in the amount of five hundred thousand dollars or more, an agency of government shall obtain from the director the general prevailing rate, as determined by the director pursuant to section 24-92-205, of the regular, holiday, and overtime wages paid and the general prevailing payments on behalf of employees to lawful welfare, pension, vacation, apprentice training, and educational funds in the state, for each employee needed to execute the contract for the public project. Payments to the funds must constitute an ordinary business expense deduction for federal income tax purposes by contractors and subcontractors.(1.5)(a) For solicitations issued for public projects on or after July 1, 2021, but prior to January 1, 2022, before awarding any contract for a public project in the amount of five hundred thousand dollars or more, an agency of government shall obtain directly from the United States department of labor the general prevailing rate of the regular, holiday, and overtime wages paid and the payments on behalf of employees to the welfare, pension, vacation, apprentice training, and education funds in the state for each employee needed to execute the contract for the public project.(b) This subsection (1.5) is repealed, effective June 30, 2025.(2) An agency of government shall specify in the competitive solicitation for a public project in the amount of five hundred thousand dollars or more and in the contract for such public project, the general prevailing rate of the regular, holiday, and overtime wages paid and the payments on behalf of employees to the welfare, pension, vacation, apprentice training, and education funds existing in the geographic locality for each employee needed to execute the contract or work.(3) The general prevailing rate of the regular, holiday, and overtime wages paid and the payments on behalf of employees to the welfare, pension, vacation, apprentice training, and education funds specified in the competitive solicitation and in the contract for a public project pursuant to subsection (2) of this section shall remain the same for the duration of the work on the public project.(4) Contracting agencies of government shall not artificially divide public projects to avoid compliance with the requirements of this part 2.Amended by 2021 Ch. 305, § 1, eff. 6/23/2021.Added by 2019 Ch. 316, § 2, eff. 8/2/2019 and applicable to solicitations issued on or after 7/1/2021, except that for institutions of higher education and the Auraria higher education center created in article 70 of title 23, Colorado Revised Statutes, applicable to public projects approved by their governing boards on or after 7/1/2021.L. 2019: Entire part added, (SB 19-196), ch. 2950, p. 2950, § 2, effective August 2.