DENVER, CO– Representative Kerry Tipper’s bipartisan bill to give the Colorado Attorney General the authority to challenge certain business mergers or acquisitions under state antitrust statutes today was passed by the House by a vote of 41-23. The bill has already been passed by the Senate.
“Colorado’s consumers need to know that their top prosecutor is empowered to protect them against unfair business practices like monopolies,” said Rep. Kerry Tipper, D-Lakewood. “Our bill will ensure that our Attorney General no longer needs to depend on the judgement of the federal government when standing up for Coloradans. We’re one signature away from bringing decisionmaking power back to Colorado.”
Under the Colorado Antitrust Act of 1992, the Colorado Attorney General is prevented from challenging mergers or acquisitions in the state if they have already been reviewed and not challenged by a federal department, agency, or commission. Colorado has been an outlier–the only state with such a law. SB20-064, which is also sponsored by Rep. Matt Soper R-Delta, would end this restriction and allow the Colorado Attorney General to protect Colorado consumers by challenging corporate mergers or acquisitions on behalf of the people of Colorado.
This bill is assessed by nonpartisan staff to have no fiscal impact on the Colorado Attorney General’s office, as the AG’s office would be able to review and prioritize cases using existing resources.