Last week the Governor signed Senate Bill 123, a measure to simplify business filing procedures, into law. The bill, sponsored by Senator Scott Renfroe, R-Greeley, will provide businesses and nonprofits with a more efficient and user-friendly system when filing with the Secretary of State.

The bill will allow the Secretary of State to improve its online filing system, ultimately decreasing the time businesses have to spend on paperwork. The upgrades will be paid for out of existing revenues so that fee increases will not be necessary. Secretary Gessler estimated that the bill would save the businesses and nonprofits who use the filing system $1 million per year once all of the system upgrades are complete.

“It makes sense for the state to cut down on the amount of time businesses have to spend filing paperwork so they can focus on growing their businesses and creating jobs,” said Renfroe. “Secretary Gessler’s plan to improve service to the business community without increasing fees is an example of how government should operate.”

The new law will save businesses and nonprofit organizations time: instead of paying for multiple filings individually, businesses will now be able to pay for all of the filings at the same time. They will also be able to combine multiple business records and file multiple documents at the same time. Users will also be given the opportunity to store payment information, add money to their accounts, as well as view their balance and transaction history.

“We’re making bold strides to create a more user-friendly, intuitive system to save our customers time and money,” said Secretary of State Scott Gessler. “The enhancements outlined in Senate Bill 123 will make our system the envy of the nation.”

Included in the enhancements is greater online search ability. Registered agents will be able to identify businesses and charitable organization for which they are listed and will be able to quickly determine when scheduled reports are due. Many customers will now be able to get certifications directly from the Secretary of State’s website.

The bill was supported by a range of groups that use the Secretary of State’s filing system, including the Colorado Nonprofit Association and the Colorado Bar Association.