The NRA-ILA has distributed a notice that this bill, if passed, will remove an automatic repeal provision in C.R.S. 24-33.5-424.
The notice is here:
The statute is here: You'll have to "drill down" to it -- Title 24, article 33.5, etc.

Here's the text I e-mailed to the persons on the contact list. Feel free to plagarize.

"The provision in House Bill 1391 that would extend a “deny gun purchase” (C.R.S. 24-33.5-424 (3)(b)) policy to those with merely an arrest on their record, even if they have never been convicted, is a direct affront to the Constitutions of both the United States and State of Colorado. This deny-on-arrest provision removes a constitutional right to own a firearm based on an arrest (only an accusation), NOT a conviction. It directly conflicts with the fundamental American doctrine of "innocent until proven guilty.”

I understand that the intent of this is probably to prevent angry arrestees/indicted persons from obtaining weapons to carry out some sort of vengeful retribution prior to a lawful conviction. But, because the disposition of an arrest record isn't always available, the burden of proof falls on potential gun buyers to prove they are eligible to purchase a firearm. In many cases, this can cost these individuals thousands of dollars of their own money in legal fees to prove their innocence—only to restore a right already guaranteed by the U.S. and State constitutions. I feel I must also point out that this provision only prevents the acquisition of firearms through lawful sales sources, while unlawful sources will continue to exist and are the de facto route such a person must use to acquire weapons. This may only delay that acquisition and doesn’t stop it outright.

I urge you to allow this unconstitutional provision to expire in July as scheduled. Besides being unconstitutional, it really serves no useful purpose against a truly determined individual.

My Name, City"