Why is it so important to work with the Colorado State Assembly? Consider this, the 2022 Colorado legislative session ended on May 11th after a hectic final week of debate and negotiation. Over 700 bills were introduced. While not all of the Bills introduced were business related, many were.
As the Voice for Business in the Longmont area, the Longmont Chamber advocates strongly with our elected officials, and partners. We want to safeguard against any unnecessary additional cost burdens for business, thus ensuring that the cost of business does not increase, which negatively impacting employers, employees and ultimately consumers. We believe that a great quality of life starts with a good job, so we work diligently to represent the perspectives of business owners and employees.
The Chamber reviewed and took positions on sixteen Bills impacting the business community and the environment in which it operates. We engaged with our elected officials to learn more about their goals, and to let them know what the business community needs. Additionally, feedback was given directly to our elected officials, including Governor Polis, concerning policy and its impact. A full list of the Bills, positions taken, and ultimate fate may be found here.
One of the most consequential was the Unemployment Insurance Trust Fund Deficit issue. This is the kind of topic that the potential to dramatically impact business owners for years to come. We’ve been working on this issue for more than a year, encouraging the State to back-fill the deficit that was created during the pandemic. While we were not successful in our efforts to promote legislation that would have provided funds to cover the entire deficit, we were successful in advocating for the Governor’s proposal to use $600 million in ARPA funds to be directed to help employers. This is the type of work we do year-round to represent employers and employees.
Between 2023 and 2026, Colorado employers stand to pay $4.2 billion more in state and federal UI taxes than they would at a pre-pandemic baseline. Because of SB22-234 (Unemployment Compensation), the state estimates that it will save employers $290 million in state payroll taxes between FY23 and FY24 by reducing rate increases. By 2026 it is estimated that $845 million will be saved in state and federal payroll taxes.
Housing is an issue for many employees and it was a major area of focus at the state legislature this year. In the wake of COVID, increasing housing prices, and locally the Marshall Fire, many efforts were made to assist in this area. Several bills were designed to increase opportunities to build affordable, attainable and innovative housing moving forward. The funding for these Bills comes largely from ARPA (American Rescue Plan Act) funds received by the State.
While many believe that businesses and individuals will always want to come to our beautiful state and area, the fact is that not everyone can afford to live and operate a business in a location that is simply too expensive. Some of these expenses are rooted in policy, which again highlights the important of working together to solve our challenges. For example, we’ve seen rising housing prices, which impacts the ability of employers to recruit and retain employees. The Longmont Chamber supported the following bills in this arena. All of these were passed and signed by the Governor:
- SB 22-146 Middle Income Access Program Expansion
- SB 22-159 Revolving Loan Fund Invest Affordable Housing
- HB 22-1282 The Innovative Housing Incentive Program
- HB 22-1304 State Grants Investments Local Affordable Housing
Our legislators had, and will have in the future sessions, many challenges to address from the pandemic. This is the same for our business owners and operators. A Chamber’s responsibility is to voice these business owners’ concerns so that balanced solutions are reached. This means working with those who create and implement policy and regulations. We invite members to engage with our public policy committee as committee members or guests.
By working together, our voice is heard. Now, and in the future.