Colorado Legislative Council Staff

NO FISCAL IMPACT

Drafting Number:

Prime Sponsor(s):

LLS 99-0402

Rep. Williams T.

Sen. Blickensderfer

Date:

Bill Status:

Fiscal Analyst:

January 15, 1999

House Judiciary

Scott Nachtrieb (303-866-4752)

 

TITLE:            CONCERNING THE LIMITATION OF LIABILITY FOR CIVIL ACTIONS RELATING TO FINANCIAL SERVICE PROVIDERS ARISING FROM DATE-RELATED PROBLEMS.



Summary of Assessment


            This bill would limit the liability of financial services providers in civil actions for computer failure to recognize the year 2000 (Y2K). The actual damages would be limited and punitive damages would not be allowed. The number of persons that would have standing to sue a financial provider would be limited. The bill would become effective July 1, 1999.


            The bill would provide some limited liability to private entities from civil actions for Y2K problems. This bill may reduce the number of potential lawsuits filed in courts for this problem. However, this would not significantly reduce the current or estimated court backlog. Therefore, this bill is assessed as having no fiscal impact.



Departments Contacted

 

            Personnel        Judicial