NOTE:  This bill has been prepared for the signature of the appropriate legislative
officers and the Governor.  To determine whether the Governor has signed the bill
or taken other action on it, please consult the legislative status sheet, the legislative
      history, or the Session Laws.
      
      
      SENATE BILL 07-048
      
      
      BY SENATOR(S) Bacon, Fitz-Gerald, Groff, Kopp, Penry, Romer,
      Schultheis, Schwartz, Shaffer, Tupa, Veiga, Ward, Wiens, Williams, and
      Windels;
      also REPRESENTATIVE(S) Fischer, Borodkin, Casso, Hodge, Jahn,
      Kefalas, Kerr A., Labuda, Levy, and Todd.
      
      
      Concerning multi-year research contracts for higher education.
       
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  24-19-104 (1.5), Colorado Revised Statutes, is
      amended BY THE ADDITION OF A NEW PARAGRAPH to read:
      
           24-19-104.  Terms of employment contracts - public inspection. 
      (1.5) (c)  Notwithstanding the provisions of paragraph (a) of
      subsection (1) of this section or paragraph (a) of this subsection
      (1.5), each system of higher education and each campus of each
      state institution of higher education may have in effect an
      unlimited number of employment contracts or employment
      contract extensions having a duration of more than five years
      with an unlimited number of government-supported officials or
      employees if the employment contracts or employment contract
      extensions are for research to be performed in university settings. 
      A contract executed pursuant to this paragraph (c) shall include
      a provision that the contract shall become unenforceable if,
      during the term of the contract, the system of higher education or
      campus of a state institution of higher education that is a party to
      the contract:
      
           (I)  Ceases to be an enterprise, as defined in section 20 (2) (d)
      of article X of the state constitution; and
      
           (II)  Lacks present cash reserves sufficient to pledge
      irrevocably to satisfy the terms of the contract.
      
           SECTION 2.  Safety clause.  The general assembly hereby finds,
      determines, and declares that this act is necessary for the immediate
      preservation of the public peace, health, and safety.
      
      
      
      
      ____________________________  ____________________________
      Joan Fitz-Gerald                      Andrew Romanoff
      PRESIDENT OF                     SPEAKER OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
      
      
      ____________________________  ____________________________
      Karen Goldman                          Marilyn Eddins
      SECRETARY OF                 CHIEF CLERK OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    Bill Ritter, Jr.
                                    GOVERNOR OF THE STATE OF COLORADO