SB12-006: Efficiencies in State Regulatory System

• Creates a 14-member Committee on Legal Services task force appointed by July 1, 2012 to review Colorado's state regulatory system and identify inefficiencies.

• Task force membership includes 10 members (industry leaders, small business owners, academics, research advocates, and project managers) appointed by the Committee on Legal Services and 4 former or current state legislators appointed by legislative leadership.

• Task force must evaluate whether regulations create unequal industry advantages, lack adequate cost-benefit analysis, impose excessive penalties, are outdated, or could be eliminated without risking public welfare or monopoly creation.

• Task force must report findings and cost savings recommendations to the Committee on Legal Services by January 1, 2013, January 1, 2014, and August 5, 2014 (final report), with the Committee then recommending legislation to the General Assembly.

• Article 2.5 is repealed effective January 1, 2015, making this a temporary measure to study and reform the regulatory system over approximately three years.