February 16, 2022

BILL TO SAVE BUSINESSES AND ENTREPRENEURS MONEY PASSES COMMITTEE

DENVER, CO – Legislation to save Colorado small businesses and entrepreneurs money passed the House Business Affairs & Labor Committee today by a vote of 11 to 1. HB22-1001, sponsored by Representatives Lisa Cutter and Tom Sullivan, would reduce business filing fees through a credit applied by the Secretary of State’s office.

“This session, we’re laser focused on saving Coloradans money and this bill will do just that by reducing several business filing fees,” said Rep. Tom Sullivan, D-Centennial. “We know Colorado’s small business community has faced significant hardships during the pandemic which is why we’re using every tool available to reduce fees, jumpstart our state’s economic recovery, and put more money back in the pockets of business owners and entrepreneurs.”

“This bill is part of our efforts to save Coloradans money, specifically focusing on the business community,” said Rep. Lisa Cutter, D-Littleton. “I am a small business owner, and I understand how difficult it is to start a new business. By reducing many of the filing fees, we’re eliminating red tape to help ensure that operating a business in Colorado is as easy as possible. We are an entrepreneurial state — small businesses are essential to our state’s economic recovery and shape our communities. I’m proud to support this effort to help move Colorado forward.”

If passed, HB22-1001 would reduce several business filing fees and other costs associated with operating a business to $1.This includes new business registrations, annual renewals and other fees typically paid to the Secretary of State’s Office. The cost savings associated with this bill would be in effect for one year.