Colorado Legislative Council Staff
NO FISCAL IMPACT
Rep. Williams T.
January 28, 1999
House Business Affairs
Scott Nachtrieb (303-866-4752)
TITLE: CONCERNING THE LIABILITY OF BUSINESSES FOR CIVIL ACTIONS ARISING FROM ELECTRONIC COMPUTING DEVICE FAILURES ASSOCIATED WITH THE YEAR 2000 DATE CHANGE.
Summary of Assessment
The bill would limit the liability of businesses if a business makes a reasonable effort to prevent losses, but may have losses or cause losses to others as a result of year 2000 computer (Y2K) failures. The liability would be limited to actual damages, place a one year statute of limitations, and provide protections for board members and officers. This bill would become effective July 1, 1999.
The bill would clarify the liability in civil actions of businesses that may experience or cause losses to persons for Y2K problems. This would not change the estimated resources required for any state or local government agency. Therefore, this bill is assessed as having no fiscal impact.