Senate Passes Bill to Save Small Businesses and Entrepreneurs Money

DENVER, CO – The Senate today passed a bill sponsored by Senator Brittany Pettersen, D-Lakewood, and Senator Chris Kolker, D-Centennial, that would reduce several business filing fees for Colorado businesses and entrepreneurs.  

“Colorado’s small businesses are the backbone of our economy, and we need to do all that we can to help them bounce back from the effects of the pandemic and move forward,” said Pettersen. “Reducing business filing fees will make it easier and cheaper for Coloradans to start a business, which will help us continue to power our economic recovery and help Colorado thrive.”

“All session long, we’ve worked to save Coloradans money, and this bill builds on that progress,” said Kolker. “Our small businesses were hit hard during the pandemic, which is why we’re continuing our efforts to alleviate the financial pressure they have felt for over the last two years. This bill will put money directly back in their pockets.” 

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. This includes new business registrations, annual renewals and other fees. The cost savings associated with this bill would be in effect for one year.

The bill now moves to the House for final concurrence of amendments. Track the progress of the bill HERE.