WASHINGTON, D.C. - Colorado Governor Bill Owens has extended help for Colorado’s over 493,000 small businesses by signing into law HB 06-1041. The new law continues the requirement that state agencies prepare a cost-benefit analysis of proposed rules that may affect small businesses when requested by the Colorado Department of Regulatory Agencies (DORA).

“Colorado small business owners have a friend in Governor Owens,” said Thomas M. Sullivan, Chief Counsel for Advocacy of the U.S. Small Business Administration. “By signing the law he has kept them at the table when regulatory decisions are made. When the voice of small business is heard, better decisions are made, and that means more jobs and growth for Colorado.”

State Representative Alice Borodkin sponsored HB 06-1041 in the Colorado House of Representatives, and Senator Peter C. Groff, President Pro Tem, sponsored the bill in the Senate. “This legislation is a win-win for small business and for effective government. It's good practice to make sure regulations don't pinch our efforts to grow economically,” said Senator Groff.

In Colorado, each state agency, its functions, and its boards are reviewed according to a statutory review schedule and statutory criteria. A sunset review discusses whether the agency, its functions, or board should be continued without changes, continued with changes, or terminated. Provisions in the Colorado Administrative Procedure Act governing the preparation of a cost-benefit analysis were set to terminate on July 1, 2006, unless extended by legislative action. HB 1041 extended the cost-benefit analysis requirement until July 1, 2013.

The small business community, led by the National Federation of Independent Business/Colorado (NFIB) and the Colorado Association of Commerce and Industry, supported the passage and signing of the bill.

“Duplicative, unnecessary and overly complicated regulations hit small business the hardest. By continuing these cost-benefit provisions state agencies can better see when they need to provide flexibility in their rules,” said Tony Gagliard, NFIB/Colorado State Director. “For small business, having the ability to participate and help shape the rules they have to comply with is important. The bill’s passage helps to maintain Colorado’s small business friendly environment.”