Gov. John Hickenlooper has signed into law the largest reform of Colorado’s procurement code since the state developed its standards for working with private companies 35 years ago.

House Bill 1051 — sponsored by Reps. Bob Rankin, R-Carbondale, and Alec Garnett, D-Denver — makes a number of changes to the law governing state contracts open to private companies in order to modernize the statutes and to make it easier for more companies to submit bids to do state work.

It also exempts grants from the state bidding requirements, and it makes it easier for losing bidders to challenge decisions they feel were unfair.

Read more at the Denver Business Journal: