The Colorado Chamber applauded Gov. Jared Polis’ signing of Senate Bill 137 on Thursday, the Chamber’s priority legislation to strengthen Colorado’s regulatory review process. Polis also signed Senate Bill 189, a Chamber-backed update to Colorado’s artificial intelligence law.
SB 137 addresses concerns identified over several years of research by the Colorado Chamber on the impact of state regulations on Colorado’s business climate. The Chamber’s most recent report found Colorado remains the sixth most regulated state in the nation, with regulations continuing to grow. This increasing regulatory burden has created a costly economic climate for businesses and consumers, threatening the state’s long-term competitiveness.
The bill creates stronger standards for how state agencies review current regulations, including assessing whether rules are outdated, duplicative, cost-effective and overly burdensome. It also requires that state agencies review their rules no less than once every five years and clearly demonstrate the continuing need and cost-effectiveness of those rules.
With bipartisan sponsorship from House and Senate leadership, SB 137 received broad support for a stronger regulatory review process. The bill passed unanimously on the Senate floor and through the Senate Finance Committee, Senate Appropriations Committee and House Business Affairs and Labor Committee.
The bill was also supported by the Department of Regulatory Agencies, which shared the goal of improving the state’s rule-review process and reducing administrative burdens on regulatory agencies.
SB 189 updates Colorado’s artificial intelligence law and was shaped by the Colorado Chamber’s leadership on AI governance over the last two years. The bill was developed following recommendations from the governor’s Artificial Intelligence Impact Task Force, which included Colorado Chamber President and CEO Loren Furman.
The updated law represents months of collaboration among legislators, industry leaders and the business community to ensure AI policy protects consumers without placing unnecessary burdens on a growing industry.