Bolivar is elected after turn ends. A large number of colonies (somewhere between greater than half and all, I didn't confirm if it is all or not) don't have Bolivar's bonus applied automatically. When the colony screen is opened, this can be viewed. But, when a colonist is added/changed (for example, moving one from making hammers to bells), the bonus is immediately applied.
The bonus is the 20% that is displayed, and having it display correctly does help. But the bonus is also the good governance that increases the output of each colonist, and that is the one that I am most concerned about. For example, one could find the colony SSioux4 at coordinate (10,48) in the attached save. The colony is of size 1, with 180 bells, a colonist farming 5 food and the city center producing 3 food and 4 furs. On the turn before Bolivar, 90% is displayed in the colony screen, correctly. Once the turn ends and Bolivar is elected, selecting the colony screen displays 91% rebels, 182 bells, everything else the same. This would have been the correct state, had Bolivar not already been elected. If the player then manually moves the farmer to the town hall to make bells (or hammers, or cloth, whatever), the game immediately provides the notification of increased efficiency, and updates the town to 100% rebels, still 182 bells. Once the farmer is moved back, the farmer now produces 6 food, and the city center produces 4 food and 5 furs. This example is what someone might see at any colony I have looked at on this save, but at 72 colonies, I did not look at every one of them.