Jul 01, 2024

New Colorado Laws: Gun Safety, Property Taxes, Deepfakes & More

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New Colorado Laws: Gun Safety, Property Taxes, Deepfakes & More




New Colorado Laws: Gun Safety, Property Taxes, Deepfakes & More

New Colorado Laws: Gun Safety, Property Taxes, Deepfakes & More

Starting July 1, 2024, Colorado will implement several new laws that could significantly impact residents across the state. These fresh regulations cover various areas from gun safety and property taxes to the increasingly concerning issue of deepfakes. Understanding these changes is crucial for everyone living in Colorado. Heres a deeper dive into the most notable laws going into effect.

Gun Safety

One of the most talked-about additions to Colorado legislation is related to gun safety. With an aim to decrease gun violence and increase public safety, new measures will take effect aiming to bolster the existing gun laws in the state.

  • Minimum Age for Gun Purchases: The minimum age for purchasing firearms has been raised to 21, aligning Colorado with federal recommendations.
  • Mandatory Gun Storage: Gun owners are now required to securely store their firearms to prevent unauthorized access, particularly by minors.
  • Red Flag Law Expansion: The existing Red Flag Law, which allows for the temporary removal of firearms from individuals deemed a risk to themselves or others, has been expanded to include extended family and certain healthcare professionals as petitioners.
  • Background Checks: Stricter background checks, including a mandatory waiting period, will be applied to all firearm purchases to ensure thorough vetting of potential buyers.

Property Taxes

Property taxes have always been a hot-button issue, and Colorados new laws aim to address some of the common grievances of homeowners and renters alike. Several reforms are on the horizon to ensure a more equitable tax system.

  • Assessment Cap: The state has introduced a cap on property tax assessments, limiting the annual increase to a maximum of 3% to curb rising costs for homeowners.
  • Tax Credit for Low-Income Residents: A new tax credit will be available specifically for low-income families to offset their property tax burden, making it easier for them to retain their homes.
  • Homestead Exemption: Eligibility for the homestead exemption has been expanded to include more senior citizens, veterans, and disabled residents, providing them with much-needed tax relief.
  • Transparency Initiatives: New transparency measures will require local governments to provide detailed reports on how property tax revenues are being utilized, ensuring more accountability.

Deepfakes

The rise of deepfake technology has introduced new challenges in the realms of privacy, security, and misinformation. Colorados latest legislative efforts aim to tackle these issues head-on.

  • Criminalization: The creation and distribution of deepfake videos or images that aim to harm, defraud, or intimidate individuals will now be considered a criminal offense.
  • Consent Requirements: Any use of deepfake technology in media, both commercial and non-commercial, will require explicit consent from the individuals portrayed.
  • Election Security: Special provisions have been implemented to prevent the utilization of deepfakes in political campaigns, ensuring the integrity of electoral processes.
  • Enhanced Penalties: Severe penalties, including significant fines and potential jail time, are now in place for those found guilty of misusing deepfake technology.

Other Notable Laws

Aside from gun safety, property taxes, and deepfakes, several other important laws are going into effect on July 1, 2024, addressing diverse aspects of life in Colorado.

  • Workplace Harassment: Tougher guidelines and penalties for workplace harassment have been enacted to create safer, more inclusive environments for all employees.
  • Healthcare Transparency: New regulations require healthcare providers to disclose the cost of procedures and treatments upfront, aiding patients in making informed decisions about their care.
  • Environmental Protection: A set of laws aimed at reducing carbon emissions and promoting renewable energy sources have been introduced to tackle climate change actively.
  • Education Funding: Increased funding for public schools and higher education institutions has been legislated to improve the quality of education across the state.

Conclusion

The laws taking effect on July 1, 2024, reflect Colorados commitment to addressing pressing issues facing its residents. Whether it's through enhancing public safety, providing fairer tax schemes, combating the dangers of deepfake technology, or ensuring a better quality of life, these legislative changes indicate a proactive and progressive approach to governance.

If navigating the intricacies of property taxes seems overwhelming, our team is here to help. Learn how to save on taxes and set up a consultation with our experts by clicking the link below:

Save on Taxes and Set Up a Consultation with Our Team

KC Chohan

CEO Together CFO

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