March 18, 2022

BILL TO SAVE SMALL BUSINESSES AND ENTREPRENEURS MONEY ADVANCES

DENVER, CO – The House moved forward a bill today that would reduce several business filing fees. HB22-1001, sponsored by Representatives Lisa Cutter and Tom Sullivan, advanced on a preliminary vote and is part of the Colorado House Democrats’ first ten bills.


“We’re using every tool at our disposal to save small business owners and entrepreneurs money,” said Rep. Tom Sullivan, D-Centennial. “For more than two years, Colorado small business community has felt the squeeze from pandemic pressures. This bill will reduce filing fees and costs associated with opening a business to just $1, putting more money back in the pockets of small business owners. Colorado’s small businesses are the backbone of our economy and this bill saves them money.”


“We’re serious about saving Coloradans money, and this bill is specifically focused on the business community,” said Rep. Lisa Cutter, D-Littleton. “As a small business owner, I know how tough it can be to start a new business from the ground up. By reducing filing fees, we’re cutting red tape and making it easier for small businesses to open their doors. Colorado is an entrepreneurial state and our small businesses are vital to our economic recovery.”


HB22-1001 would reduce several business filing fees and other costs associated with operating a business to $1 through a credit program administered by the Secretary of State’s Office. 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.