Signed! Pair of Bills to Save Coloradans Money

Legislation will reduce the cost of starting a business, save people money at the DMV

CENTENNIAL, CO - Governor Jared Polis today signed a pair of bills to reduce fees and save Colorado businesses and families money.

HB22-1001, sponsored by Representatives Cutter and Sullivan, and Senators Pettersen and Kolker, will make it nearly free to start a new business in Colorado by reducing the filing fee to $1. 

“The legislation Governor Polis signed into law today will save businesses money by reducing fees on paperwork and filings at the Secretary of State’s office,” said Rep. Lisa Cutter, D-Jefferson County. “We looked at every possible option to save Coloradans and small businesses money this session to help address the impacts of rising costs. From reducing fees on drivers licenses to lowering the cost of housing and prescription drugs, Colorado families and businesses are going to see more money back in their bank accounts.” 

“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 Senator Brittany Pettersen, D-Lakewood. “Reducing business filing fees will make it easier and more affordable for Coloradans to start a business, which will help us continue to power our economic recovery and help Colorado thrive.”

“Our work this session is going to save families and businesses money on everything from filing fees and unemployment insurance rates to property taxes and child care,” said Rep. Tom Sullivan, D-Centennial. “I’m proud the Governor signed our bill into law to reduce the cost of starting a business in Colorado and submitting required business information to the Secretary of State’s office.”

“All session long, we’ve worked to save Coloradans money, and this bill builds on that progress,” said Senator Chris Kolker, D-Centennial. “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.” 

The cost savings associated with HB22-1001 would be in effect for one year.

Polis also signed HB22-1004, sponsored by Senators Kolker and Fields and Reps. Young and Ortiz, which freezes DMV drivers’ license fees at $30 for the next fiscal year.

“I’m proud Governor Polis has signed our legislation into law to keep DMV fees low and save people money when they go to renew their license,” said Rep. Mary Young, D-Greeley. “Coloradans are looking for a break everywhere they can, so we are reducing fees and cutting costs for families and businesses on everything from gas and housing to the cost of getting a degree.”    

“As high inflation continues to put the squeeze on Coloradans’ wallets, it’s more important than ever to promote savings whenever and wherever we can,” Senator Chris Kolker, D-Centennial, said. “Freezing drivers’ license fees is a simple way we can save families money when it comes to necessity costs.”

“The bills signed today are going to save Coloradans money at the pump, when they register their vehicle and when they go to renew their licenses,” Rep. David Ortiz, D-Littleton, said. “We know that gas prices and costs on everyday items are rising from pandemic-induced supply chain challenges and the war in Ukraine. From expedited refund checks of at least $500 and $1000 to saving people money at the DMV, we looked everywhere we could to put more money back into people’s pockets.”

“With the cost of living continuing to rise we are working hard to save Coloradans money, and this bill is another piece of that puzzle,” Senator Rhonda Fields, D-Aurora, said. “Keeping DMV fees low will provide certainty and help families keep more money in their wallets.”

HB22-1004 saves drivers money by removing the need to increase the license renewal fee for two years by transferring money to the Colorado DRIVES vehicle services account.