Join now!   |   Subscribe   |   Your Cart   |   Sign In
News & Press: UPPO Advocacy Activity

Holders Coalition Submits S.B. 88 Comments to Colorado

Monday, December 16, 2019   (0 Comments)
Share |

In April 2019, Colorado Gov. Jared Polis signed into law S.B. 88, RUUPA-inspired legislation that goes into effect on July 1, 2020. On Dec. 12, 2019, the Holders Coalition – a group of organizations, including and administrated by UPPO, whose members hold or represent owners of property – submitted comments to Colorado officials, highlighting practical issues and recommendations regarding implementation of the new law.

 

The coalition’s concerns and recommendations are related to:

  • Linkage provision elimination.
  • Transition provision and the elimination of “more or less” deduction. 
  • Effective date and impact on fall 2020 reporting. 
  • Inconsistent definitions of stored value card and gift card.
  • Incompatible dormancy standard for demand/savings accounts.
  • Incomplete language for bank-issued checks.
  • Lack of exemption for 529-Qualified Tuition Programs.
  • Impact on life insurance companies.

The Holders Coalition’s goal is to highlight issues that have been identified by its members of and voiced by the others in the holder community. The recommendations are focused on assisting with the successful implementation of SB 88.

 


Membership Software Powered by YourMembership  ::  Legal