C.R.S. § 38-46-102

(1) Except as provided in subsection (2) of this section, this article 46 applies to: (a) A contract that: (I) Has a price of at least one hundred fifty thousand dollars; and (II) Is made between a property owner and a contractor; (b) A subcontract to a contract described in subsection (1)(a) of this section, notwithstanding that the subcontract price is less than one hundred fifty thousand dollars; and (c) A supply agreement that is made to supply materials, goods, or equipment used to perform a contract notwithstanding that the supply agreement price is less than one hundred fifty thousand dollars. (2) This article 46 does not apply to: (a) A single contract that governs the building of either: (I) One single-family dwelling; or (II) One multifamily dwelling with no more than four family dwelling units; or (b) A contract with a public entity, as defined in section 24-91-102 (3).