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 approved by the House Judiciary Committee by a vote of 7-2. The bill has already been passed by the Colorado Senate.
“It’s time to stop relying on the judgement of the federal government and give Colorado’s top prosecutor the tools to protect consumers and go after monopolies,” said Rep. Kerry Tipper, D-Lakewood. “Since 1992, the Colorado Attorney General’s office has been hamstrung by a law that requires them to accept the antitrust decisions of the federal government without giving them so much as a second opinion. We’re on track to bring that decision making 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.