Colorado 2025 Regular Session

Colorado Senate Bill SB126 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		First Regular Session
2	2		Seventy-fifth General Assembly
3	3		STATE OF COLORADO
4		-	~~REENGROSSED~~
5		-	This Version Includes All Amendments
6		-	~~Adopted~~ in the House of Introduction
	4	+	ENGROSSED
	5	+	This Version Includes All Amendments Adopted
	6	+	on Second Reading in the House of Introduction
7	7		LLS NO. 25-0437.01 Jason Gelender x4330
8	8		SENATE BILL 25-126
9	9		Senate Committees House Committees
10	10		Judiciary
11	11		Appropriations
12	12		A BILL FOR AN ACT
13	13		C
14	14		ONCERNING THE "UNIFORM ANTITRUST PRE-MERGER101
15	15		N
16	16		OTIFICATION ACT", AND, IN CONNECTION THEREWITH ,
17	17		102
18	18		MAKING AN APPROPRIATION .103
19	19		Bill Summary
20	20		(Note: This summary applies to this bill as introduced and does
21	21		not reflect any amendments that may be subsequently adopted. If this bill
22	22		passes third reading in the house of introduction, a bill summary that
23	23		applies to the reengrossed version of this bill will be available at
24	24		http://leg.colorado.gov/
25	25		.)
26	26		Colorado Commission on Uniform State Laws. The bill enacts
27	27		the "Uniform Antitrust Pre-Merger Notification Act", drafted by the
28	28		Uniform Law Commission. The bill:
29	29		! Requires a person filing a pre-merger notification with the
30	30		federal government under the federal "Hart-Scott-Rodino
31	31		SENATE
32		-	3rd Reading Unamended
33		-	April 21, 2025
34		-	SENATE
35	32		Amended 2nd Reading
36	33		April 17, 2025
37	34		SENATE SPONSORSHIP
38		-	Snyder, ~~Cutter, Hinrichsen, Jodeh, Weissman~~
	35	+	Snyder,
39	36		HOUSE SPONSORSHIP
40	37		Espenoza,
41	38		Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
42	39		Capital letters or bold & italic numbers indicate new material to be added to existing law.
43	40		Dashes through the words or numbers indicate deletions from existing law. Act" that has its principal place of business in the state or
44	41		directly or indirectly has annual net sales in the state of at
45	42		least 20% of the filing threshold to contemporaneously file
46	43		with the state attorney general complete electronic copies
47	44		of the Hart-Scott-Rodino form and any additional
48	45		documentary material that are filed with the pre-merger
49	46		notification;
50	47		! Requires the attorney general to keep the filed form and
51	48		documentary materials confidential, subject to specified
52	49		exceptions; and
53	50		! Authorizes the attorney general to impose a civil penalty of
54	51		not more than $10,000 per day on any person that fails to
55	52		comply with the filing requirement.
56	53		Be it enacted by the General Assembly of the State of Colorado:1
57	54		SECTION 1. In Colorado Revised Statutes, add article 4.5 to title2
58	55		6 as follows:3
59	56		ARTICLE 4.54
60	57		Uniform Antitrust Pre-Merger Notification Act5
61	58		6-4.5-101. Short title. T
62	59		HIS ARTICLE 4.5 MAY BE CITED AS THE6
63	60		"U
64	61		NIFORM ANTITRUST PRE-MERGER NOTIFICATION ACT".7
65	62		6-4.5-102. Definitions. I
66	63		N THIS ARTICLE 4.5:8
67	64		(1) "A
68	65		DDITIONAL DOCUMENTARY MATERIAL " MEANS THE9
69	66		ADDITIONAL DOCUMENTARY MATERIAL FILED WITH A10
70	67		H
71	68		ART-SCOTT-RODINO FORM.11
72	69		(2) "E
73	70		LECTRONIC" MEANS RELATING TO TECHNOLOGY HAVING12
74	71		ELECTRICAL, DIGITAL, MAGNETIC , WIRELESS , OPTICAL,13
75	72		ELECTROMAGNETIC, OR SIMILAR CAPABILITIES.14
76	73		(3) "F
77	74		ILING THRESHOLD" MEANS THE MINIMUM SIZE OF A15
78	75		TRANSACTION THAT REQUIRES THE TRANSACTION TO BE REPORTED UNDER16
79	76		THE HART-SCOTT-RODINO ACT IN EFFECT WHEN A PERSON FILES A17
80	77		PRE-MERGER NOTIFICATION.18
81	78		126-2- (4) "HART-SCOTT-RODINO ACT" MEANS SECTION 201 OF THE1
82	79		"H
83	80		ART-SCOTT-RODINO ANTITRUST IMPROVEMENTS ACT OF 1976", 152
84	81		U.S.C.
85	82		SEC. 18 (a).3
86	83		(5) "H
87	84		ART-SCOTT-RODINO FORM" MEANS THE FORM FILED WITH4
88	85		A PRE-MERGER NOTIFICATION, EXCLUDING ADDITIONAL DOCUMENTARY5
89	86		MATERIAL.6
90	87		(6) "P
91	88		ERSON" MEANS AN INDIVIDUAL , ESTATE, BUSINESS OR7
92	89		NONPROFIT ENTITY, GOVERNMENT OR GOVERNMENTAL SUBDIVISION ,8
93	90		AGENCY, OR INSTRUMENTALITY, OR OTHER LEGAL ENTITY.9
94	91		(7) "P
95	92		RE-MERGER NOTIFICATION" MEANS A NOTIFICATION FILED10
96	93		UNDER THE HART-SCOTT-RODINO ACT WITH THE FEDERAL TRADE11
97	94		COMMISSION OR THE UNITED STATES DEPARTMENT OF JUSTICE ANTITRUST12
98	95		DIVISION, OR A SUCCESSOR AGENCY.13
99	96		(8) "S
100	97		TATE" MEANS A STATE OF THE UNITED STATES, THE14
101	98		D
102	99		ISTRICT OF COLUMBIA, PUERTO RICO, THE UNITED STATES VIRGIN15
103	100		I
104	101		SLANDS, OR ANY OTHER TERRITORY OR POSSESSION SUBJECT TO THE16
105	102		JURISDICTION OF THE UNITED STATES.17
106	103		6-4.5-103. Filing requirement. (a) A
107	104		PERSON FILING A18
108	105		PRE-MERGER NOTIFICATION SHALL FILE CONTEMPORANEOUSLY A19
109	106		COMPLETE ELECTRONIC COPY OF THE HART-SCOTT-RODINO FORM WITH20
110	107		THE ATTORNEY GENERAL IF:21
111	108		(1) T
112	109		HE PERSON HAS ITS PRINCIPAL PLACE OF BUSINESS IN THIS22
113	110		STATE; OR23
114	111		(2) T
115	112		HE PERSON OR A PERSON IT CONTROLS DIRECTLY OR24
116	113		INDIRECTLY HAD ANNUAL NET SALES IN THIS STATE OF THE GOODS OR25
117	114		SERVICES INVOLVED IN THE TRANSACTION OF AT LEAST TWENTY PERCENT26
118	115		OF THE FILING THRESHOLD.27
119	116		126
120	117		-3- (b) A PERSON THAT FILES A FORM UNDER SUBSECTION (2)(a) OF1
121	118		THIS SECTION SHALL INCLUDE WITH THE FILING A COMPLETE ELECTRONIC2
122	119		COPY OF THE ADDITIONAL DOCUMENTARY MATERIAL .3
123	120		(c) O
124	121		N REQUEST OF THE ATTORNEY GENERAL , A PERSON THAT4
125	122		FILED A FORM UNDER SUBSECTION (2)(a) OF THIS SECTION SHALL PROVIDE5
126	123		A COMPLETE ELECTRONIC COPY OF THE ADDITIONAL DOCUMENTARY6
127	124		MATERIAL TO THE ATTORNEY GENERAL NOT LATER THAN SEVEN DAYS7
128	125		AFTER RECEIPT OF THE REQUEST.8
129	126		(d) T
130	127		HE ATTORNEY GENERAL MAY NOT CHARGE A FEE CONNECTED9
131	128		WITH FILING OR PROVIDING THE FORM OR ADDITIONAL DOCUMENTARY10
132	129		MATERIAL UNDER THIS SECTION.11
133	130		6-4.5-104. Confidentiality. (a) E
134	131		XCEPT AS PROVIDED IN12
135	132		SUBSECTION (c) OF THIS SECTION OR SECTION 6-4.5-105, THE ATTORNEY13
136	133		GENERAL MAY NOT MAKE PUBLIC OR DISCLOSE :14
137	134		(1) A
138	135		HART-SCOTT-RODINO FORM FILED UNDER SECTION15
139	136		6-4.5-103;16
140	137		(2) T
141	138		HE ADDITIONAL DOCUMENTARY MATERIAL FILED OR17
142	139		PROVIDED UNDER SECTION 6-4.5-103;18
143	140		(3) A
144	141		HART-SCOTT-RODINO FORM OR ADDITIONAL DOCUMENTARY19
145	142		MATERIAL PROVIDED BY THE ATTORNEY GENERAL OF ANOTHER STATE ;20
146	143		(4) T
147	144		HAT THE FORM OR THE ADDITIONAL DOCUMENTARY21
148	145		MATERIAL WERE FILED OR PROVIDED UNDER SECTION 6-4.5-103 OR22
149	146		PROVIDED BY THE ATTORNEY GENERAL OF ANOTHER STATE ; OR23
150	147		(5) T
151	148		HE MERGER PROPOSED IN THE FORM .24
152	149		(b) A
153	150		FORM, ADDITIONAL DOCUMENTARY MATERIAL , AND OTHER25
154	151		INFORMATION LISTED IN SUBSECTION (a) OF THIS SECTION ARE EXEMPT26
155	152		FROM DISCLOSURE UNDER THE "COLORADO OPEN RECORDS ACT", PART27
156	153		126
157	154		-4- 2 OF ARTICLE 72 OF TITLE 24.1
158	155		(c) S
159	156		UBJECT TO A PROTECTIVE ORDER ENTERED BY AN AGENCY ,2
160	157		COURT, OR JUDICIAL OFFICER, THE ATTORNEY GENERAL MAY DISCLOSE A3
161	158		FORM, ADDITIONAL DOCUMENTARY MATERIAL , OR OTHER INFORMATION4
162	159		LISTED IN SUBSECTION (a) OF THIS SECTION IN AN ADMINISTRATIVE5
163	160		PROCEEDING OR JUDICIAL ACTION IF THE PROPOSED MERGER IS RELEVANT6
164	161		TO THE PROCEEDING OR ACTION.7
165	162		(d) T
166	163		HIS ARTICLE 4.5 DOES NOT:8
167	164		(1) L
168	165		IMIT ANY OTHER CONFIDENTIALITY OR9
169	166		INFORMATION-SECURITY OBLIGATION OF THE ATTORNEY GENERAL ;10
170	167		(2) P
171	168		RECLUDE THE ATTORNEY GENERAL FROM SHARING11
172	169		INFORMATION WITH THE FEDERAL TRADE COMMISSION OR THE UNITED12
173	170		S
174	171		TATES DEPARTMENT OF JUSTICE ANTITRUST DIVISION , OR A SUCCESSOR13
175	172		AGENCY; OR14
176	173		(3) P
177	174		RECLUDE THE ATTORNEY GENERAL FROM SHARING15
178	175		INFORMATION WITH THE ATTORNEY GENERAL OF ANOTHER STATE THAT16
179	176		HAS ENACTED THE "UNIFORM ANTITRUST PRE-MERGER NOTIFICATION17
180	177		A
181	178		CT" OR A SUBSTANTIVELY EQUIVALENT ACT . THE OTHER STATE'S ACT18
182	179		MUST INCLUDE CONFIDENTIALITY PROVISIONS AT LEAST AS PROTECTIVE AS19
183	180		THE CONFIDENTIALITY PROVISIONS OF THE "UNIFORM ANTITRUST20
184	181		P
185	182		RE-MERGER NOTIFICATION ACT".21
186	183		6-4.5-105. Reciprocity. (a) T
187	184		HE ATTORNEY GENERAL MAY22
188	185		DISCLOSE A HART-SCOTT-RODINO FORM AND ADDITIONAL DOCUMENTARY23
189	186		MATERIAL FILED OR PROVIDED UNDER SECTION 6-4.5-103 TO THE24
190	187		ATTORNEY GENERAL OF ANOTHER STATE THAT ENACTS THE "UNIFORM25
191	188		A
192	189		NTITRUST PRE-MERGER NOTIFICATION ACT" OR A SUBSTANTIVELY26
193	190		EQUIVALENT ACT . THE OTHER STATE 'S ACT MUST INCLUDE27
194	191		126
195	192		-5- CONFIDENTIALITY PROVISIONS AT LEAST AS PROTECTIVE AS THE1
196	193		CONFIDENTIALITY PROVISIONS OF THE "UNIFORM ANTITRUST2
197	194		P
198	195		RE-MERGER NOTIFICATION ACT".3
199	196		(b) A
200	197		T LEAST TWO BUSINESS DAYS BEFORE MAKING A DISCLOSURE4
201	198		UNDER SUBSECTION (a) OF THIS SECTION, THE ATTORNEY GENERAL SHALL5
202	199		GIVE NOTICE OF THE DISCLOSURE TO THE PERSON FILING OR PROVIDING6
203	200		THE FORM OR ADDITIONAL DOCUMENTARY MATERIAL UNDER SECTION7
204	201		6-4.5-103.8
205	202		6-4.5-106. Civil penalty. T
206	203		HE ATTORNEY GENERAL MAY SEEK9
207	204		IMPOSITION OF A CIVIL PENALTY OF NOT MORE THAN TEN THOUSAND10
208	205		DOLLARS PER DAY OF NONCOMPLIANCE ON A PERSON THAT FAILS TO11
209	206		COMPLY WITH SECTION 6-4.5-103 (a), (b), OR (c). A CIVIL PENALTY12
210	207		IMPOSED UNDER THIS SECTION IS SUBJECT TO PROCEDURAL REQUIREMENTS13
211	208		APPLICABLE TO THE ATTORNEY GENERAL , INCLUDING THE REQUIREMENTS14
212	209		OF DUE PROCESS.15
213	210		6-4.5-107. Uniformity of application and construction. I
214	211		N16
215	212		APPLYING AND CONSTRUING THIS UNIFORM ACT , A COURT SHALL CONSIDER17
216	213		THE PROMOTION OF UNIFORMITY OF THE LAW AMONG JURISDICTIONS THAT18
217	214		ENACT IT.19
218	215		6-4.5-108. Transitional provision. T
219	216		HIS ARTICLE 4.5 APPLIES20
220	217		ONLY TO A PRE-MERGER NOTIFICATION FILED ON OR AFTER THE EFFECTIVE21
221	218		DATE OF THIS ARTICLE 4.5.22
222	219		SECTION 2. Appropriation. For the 2025-26 state fiscal year,
223	220		23
224	221		$68,052 is appropriated to the department of law for use by consumer24
225	222		protection, antitrust, and civil rights. This appropriation is from the25
226	223		general fund and is based on an assumption that the department will26
227	224		require an additional 0.6 FTE. To implement this act, the department may27
228	225		126
229	226		-6- use this appropriation for consumer protection, antitrust, and civil rights.1
230	227		SECTION 3. Act subject to petition - effective date. This act2
231	228		takes effect at 12:01 a.m. on the day following the expiration of the3
232	229		ninety-day period after final adjournment of the general assembly; except4
233	230		that, if a referendum petition is filed pursuant to section 1 (3) of article V5
234	231		of the state constitution against this act or an item, section, or part of this6
235	232		act within such period, then the act, item, section, or part will not take7
236	233		effect unless approved by the people at the general election to be held in8
237	234		November 2026 and, in such case, will take effect on the date of the9
238	235		official declaration of the vote thereon by the governor.10
239	236		126
240	237		-7-