CO SB117

State agencies are prohibited from imposing "designated fines" (penalties of at least $1,000 per violation on natural persons, business entities, or political subdivisions) unless written notice is provided and the violator fails to cure the violation within 30 calendar days after the agency mails notice.

Maximum designated fines are capped at 10% of a natural person's taxable income from their last state income tax return, 10% of a business entity's operating revenue from the last fiscal year, or 5% of a political subdivision's prior fiscal year tax revenue.

The maximum fine limits apply only if the violator provides requested financial information within 30 calendar days after the agency mails the request; if the violator fails to provide information, the statutory maximums do not apply.

Appropriates $1.68 million total for fiscal year 2016-17 to various state departments and agencies to implement the new restrictions, including funding for the Department of Revenue, Department of Labor and Employment, Department of Regulatory Agencies, and Department of Public Health and Environment.

The act becomes effective 90 days after final adjournment of the general assembly, or November 2016 if subject to voter approval through referendum petition.