What an incredible week for the Colorado Society of Certified Public Accountants! Between our impactful PAC the House day at the State Capitol and the introduction of groundbreaking legislation that will transform CPA licensure in Colorado, our advocacy efforts are making real headway—and it's been years in the making.

PAC the House: CPAs Connect with Legislators

On Tuesday, January 27, COCPA members and staff gathered at the Colorado State Capitol for our annual PAC the House day, bringing voices of our profession directly to our state's policymakers.

Throughout the day, COCPA members met with legislators from across the political spectrum - including licensure bill sponsors Sen. William Lindstedt, Sen. Lisa Frizzell, and Rep. Rebekah Stewart, as well as COCPA partners Sen. Marc Snyder and Sen. Scott Bright. These face-to-face conversations are the foundation of our strategy to build relationships and educate lawmakers about the critical role CPAs play in our state. When we show up, we are making sure we have a seat at the table when it comes to policies that impact our profession.

The energy and engagement from our members was incredible! Whether discussing professional licensure, tax code simplification, or the legislative process, it was clear we have passionate advocates among our membership willing to make a difference. These connections we're building today will serve us well at the Capitol now and in the future.

Licensure Modernization: SB 26-076 has been introduced

The timing of PAC the House couldn't have been better, because Colorado is on the verge of a major proactive change for the accounting profession!

After a multiyear effort by the Colorado Society of Certified Public Accountants (COCPA) that included stakeholding with COCPA members, our educational partners, firms, and policymakers, impactful legislation has been introduced in the Colorado General Assembly that will modernize the pathway to licensure for Certified Public Accountants. Senate Bill 26-076 represents a thoughtful, comprehensive approach to expanding access to the CPA profession while maintaining the rigorous standards that make CPAs trusted advisors across our state.

What the Bill Does

Most importantly, the bill creates three (3) distinct pathways to CPA licensure. While all three (3) pathways will still require passage of the Uniform CPA exam and a board-approved ethics exam, the combination of education and experience can be tailored:

1. The Bachelor's Degree + 30 additional credit hours + One Year of Work Experience Pathway
   • A pathway consistent with current licensure requirements remains available. Candidates may qualify with a bachelor’s degree, an additional 30 academic credit hours, and one year of relevant work experience.
2. The Bachelor's Degree + Two Years Work Experience Pathway
   • This is a game-changer! This new pathway provides a flexible alternative for candidates. Individuals may qualify with a bachelor’s degree and two years of accounting-related work experience, substituting one additional year of professional experience in place of the 30 post-baccalaureate academic credit hours.
3. The Master's Degree + One Year of Work Experience Pathway
   • Also aligned with current licensure law, candidates may qualify with a post-baccalaureate (master’s) degree and one year of work experience. The bill modernizes this pathway by basing eligibility on degree completion rather than a specific number of credit hours, reflecting the evolving landscape of higher education.

The bill also clarifies that candidates enrolled in dual-degree programs can take the Uniform CPA exam upon obtaining their bachelor's degree and updates interstate practice privileges to allow CPAs licensed in other states to practice in Colorado more seamlessly, while preserving the rigorous standards that make CPAs trusted advisors for their clients.

This legislation wouldn't be possible without COCPA’s legislative allies. We extend our deepest thanks to Senator William Lindstedt and Senator Lisa Frizzell for sponsoring this bill in the Senate, and to Representative Rebekah Stewart and Representative Chris Richardson for their leadership in the House. Their commitment to modernizing Colorado's professional licensure laws will have lasting impacts on our industry and the economic future of our clients and our state.

The Work Continues—We Need You!

While it's exciting that SB 26-076 has been introduced and assigned to the Business, Labor, and Technology committee of the state senate, this is just the beginning!

The next step will be a committee hearing, where sponsors explain the bill and the public is allowed to provide testimony. It is during this step that amendments can be proposed. The committee can then refer the bill to the full chamber with or without amendments, or postpone the bill. If referred to the full chamber, the bill gets a second reading, all senators will be allowed to propose amendments, and then another vote is taken. If the chamber votes to approve, the bill moves to a third reading (at least 24 hours later) where final debate is allowed and a final vote is taken, where a majority is required. If passed, the bill moves to the state house of representatives, where the same process takes place. Should the bill pass both chambers, it will then go to the governor’s desk for signature. After a petition period of 90 days after the end of the legislative session, rulemaking will commence at the Colorado Board of Accountancy. 

We will continue to need your engagement during all of these steps! Whether it is testifying at committee hearings, reaching out to your legislators to express your support, and engaging in the rulemaking process with the state board of accountancy after the bill goes into effect, your voice matters. Sustained engagement from the accounting community and stakeholders across Colorado will be a key piece of our work to get this bill passed! Please feel free to reach out to me if you want to be a part of this effort! 

To learn more about Senate Bill 26-076 or to support this legislation, visit the Colorado General Assembly website or contact the Colorado Society of CPAs.