Bill to Reduce Over $8 Million in Business Filing Fees Passes out of the State Legislature
Secretary Griswold priority will keep money in the pockets of small business across the state
Denver, May 11, 2022 - Today, Secretary of State Jena Griswold applauded the passage HB22-1001 the “Colorado Business Fee Relief Act.” The bill, which is a collaboration between Colorado Secretary of State Jena Griswold, the Governor’s Office, and legislative leadership, will save Colorado businesses and entrepreneurs over $8.4 million in business fees for filing documents with the Colorado Secretary of State’s Office during the fiscal year beginning on July 1, 2022. The bill is sponsored by Representatives Lisa Cutter and Tom Sullivan, and Senators Brittany Pettersen and Chris Kolker.
“We must continue to do all we can to support Colorado’s working families and the small businesses that are critical to our economy and communities. These fee reductions will keep money in the pockets of Colorado’s small business owners, many of whom have faced adversity and uncertainty over the last few years,” said Secretary Griswold. “Thank you to Representatives Cutter and Sullivan, and Senators Pettersen and Kolker for their leadership on this bill.”
While businesses across sectors have struggled in these uncertain times, these reductions will keep money in the pockets of small business across the state. The over $8.4 million in business fees that the Secretary of State seeks to reduce in Fiscal Year 2022-23 is part of a cross-government fee reduction effort with the Governor’s Office and the Majority leadership in the legislature. The Secretary of State’s Office will utilize general fund dollars to offset the foregone revenue from the fee reductions. The reduction in filing fees under this fee relief program would remain in place during Fiscal Year 2022-23 until the amount of the general fund transfer is exhausted.
