Committee Clears Bill to Save Small Businesses And Entrepreneurs Money

Small business owners and entrepreneurs would see business filing fees reduced to $1

DENVER, CO - The Senate Finance Committee today voted unanimously to advance Senators Brittany Pettersen (D-Lakewood) and Chris Kolker’s (D-Centennial) legislation to reduce filing fees, bringing down the cost of owning and operating a business in Colorado.

“After a tough few years, hardworking small business owners and entrepreneurs need to keep more money in their pockets,” said Pettersen. “This bill offers relief to small businesses in every corner of the state and represents just one of the many ways we’re working to save Coloradans money this year.”

“Small businesses were hit hard over the course of the pandemic,” Kolker said. “As recovery stretches on, we’re continuing to do what we can to offer support. By cutting fees for businesses, we’re delivering support directly to the small businesses and entrepreneurs that work hard to keep our economy going.”

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.

HB22-1001 now heads to the Senate Appropriations Committee for further consideration. Follow the bill’s progress HERE