On February 16, 2022, Gusto Policy Lead Steve Abbott testified virtually before the Colorado Assembly Business and Labor Committee in support of Colorado HB 22-1001.
Colorado HB 22-1001 reduces a number of state business fees ranging from $5 – $50 down to $1, including fees related to business name registration, renewal of business name and updating addresses. This bill could save Colorado businesses millions of dollars annually and would provide a much needed boost to women- and minority-owned businesses who disproportionately rely on personal funds/credit to start and maintain their businesses.
Following the testimony, the Committee adopted two minor technical amendments and then, following a short discussion, voted 11-1 to advance the bill to the House Finance Committee with a Favorable recommendation.
Read Abbott’s full testimony below or listen to an audio recording here.