July 1, 2022

JOINT RELEASE: NEW LAWS PASSED BY DEMOCRATS TO SAVE PEOPLE MONEY GO INTO EFFECT

DENVER, CO – New laws passed by Democrats in the General Assembly to save people and businesses more than $150 million go into effect today.

“With inflation and rising costs squeezing families across the state, we did everything we could to save Coloradans and businesses money this year,” said Rep. David Ortiz, D-Littleton. “The legislation going into effect today will save Coloradans and businesses nearly $150 million. From cutting property taxes by $275 on average and creating free universal preschool, to sending every Coloradan an early rebate check of $750 and boosting the Child Tax Credit and Earned Income Tax Credit, we’re putting hundreds, if not thousands, of dollars back into Coloradans’ pockets.”

“Pandemic-induced inflation is putting folks in a pinch, which is why we fought to pass this slate of fee relief bills that will help save people money,” said Sen. Nick Hinrichsen, D-Pueblo. “From helping local restaurants hold onto thousands of dollars on their sales taxes, to slashing fees at the DMV, to reducing professional licenses for health care providers, we’re helping families and businesses deal with rising costs and putting money directly back into the pockets of hard-working Coloradans.”

“The legislation going into effect today will save drivers money as gas prices rise across the globe and put money back into the pockets of health care professionals and small businesses,” said Rep. Mary Young, D-Greeley. “Nurses and mental health professionals served on the frontlines during the pandemic, and small businesses have faced the brunt of the pandemic’s economic disruptions. I’m so proud of the legislation we passed to save families and businesses money and help Coloradans hold on to more of their hard earned money.”

“We know that working Colorado families need all the help they can get right now, and we delivered with a package of new laws going into effect today that will reduce fees and help folks across the state save money,” said Senator Chris Kolker, D-Centennial. “These measures will help alleviate the financial pressure families and businesses have felt over the last two years, giving them some breathing room and helping them make ends meet when they need it most.”

Saving Restaurants and Small Businesses Money: HB22-1406, sponsored by Representatives Dylan Roberts and Leslie Herod and Senators Nick Hinrichsen and James Coleman, will save restaurants $40 million by allowing them to retain the sales tax they collect and would otherwise remit to the state. HB22-1001, sponsored by Representatives Lisa Cutter and Tom Sullivan and Senators Brittany Pettersen and Chris Kolker, will save businesses over $8 million by making it nearly free to start your own business in Colorado.

Putting Money Back Into Driver’s Pockets: HB22-1004, sponsored by Representatives David Ortiz and Mary Young and Senators Chris Kolker and Rhonda Fields, will save drivers nearly $4 million in DMV fees, and HB22-1351, sponsored by Representatives Dylan Roberts and Barbara McLachlan and Senators Brittany Pettersen and Nick Hinrichsen, will save drivers over $78 million by reducing the cost of registering a vehicle and delaying the road usage fee

Saving Nurses and Mental Health Professionals Money on Their Professional Licenses: Nurses, who served bravely on the frontlines during the pandemic, will save $11.7 million this year when they go to renew their licenses because of HB22-1298, legislation sponsored by Representative Kyle Mullica and Senators Nick Hinrichsen and Sonya Jaquez Lewis. Mental health professionals will save $3.7 million when they go to renew their licenses from HB22-1299, legislation sponsored by Representative Mary Young and Senators Chris Kolker and Rhonda Fields.