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DENVER – The Colorado Chamber of Commerce released the following statement from President and CEO Loren Furman following the passage of House Bill 1421 in the state legislature today:
“HB 1421 addresses a growing challenge in our legal system by reinforcing a simple but critical principle that legal decisions should be made by attorneys, not outside investors. As private equity continues to find ways to enter the legal market, it is important to ensure that those decisions remain focused on the best interest of Coloradans rather than profit. We are grateful for the leadership of House Minority Leader Jarvis Caldwell, Rep. Javier Mabrey, Sen. Lindsey Daugherty and Sen. Lisa Frizell on this bipartisan effort and helping move forward a solution that protects Colorado’s legal system and those who rely on it.”
“Colorado Trial Lawyers Association members are committed to upholding the integrity of the legal profession and serving the best interests of their clients,” said Executive Director of Colorado Trial Lawyers Association Julie Whitacre. “Our members are bound by core duties of loyalty, confidentiality, and independent judgment, and they take those responsibilities seriously. We’re grateful to the bill sponsors for their leadership in protecting Coloradans and reinforcing a simple principle: legal decisions should be guided by Colorado lawyers, grounded in what is right for their clients, and focused on the pursuit of justice.”
HB 1421 is one of the Chamber’s priority bills for the 2026 legislative session in partnership with the Colorado Trial Lawyers Association. The bipartisan bill strengthens existing rules prohibiting non-lawyer ownership of law firms and fee-sharing with non-lawyers, while closing loopholes that allow private equity firms to influence legal outcomes through complex business arrangements. The bill ensures that legal decisions remain in the hands of licensed attorneys and not outside investors.
The bill was passed in the state legislature last night and will head to Gov. Jared Polis for signature.
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The Colorado Chamber of Commerce champions free enterprise, a healthy business environment and economic prosperity for all Coloradans. It is the only business association that works to improve the business climate for all sizes of business from a statewide, multi-industry perspective. What the Colorado Chamber accomplishes is good for all businesses, and that’s good for the state’s economy. It was created in 1965 based on the merger with the Colorado Manufacturers’ Association.