Put Down the Bottle, We Have a Solution
DENVER – Keeping up with the Republican principles of free markets and ending unnecessary regulations, Senate Bill 138, sponsored by Senator Bob Gardner (R-Colorado Springs) passed the Senate Business Labor, and Technology committee unanimously earlier today.
The bill allows an individual, such as a liquor store owner who gives up their alcohol license, to either sell their back stock of alcohol to another licensee with common ownership or to a wholesaler. If a liquor store decides to voluntarily close, this ensures that ownership will not have to take such a heavy loss due to alcohol back stock.
It’s important to state that this only affects those who voluntarily give up their license, not those who lose it due to violation.
“I’m pleased that SB-138 passed unanimously in the Business Committee this afternoon,” said Senator Gardner. “It is a common sense solution to excessive regulation that currently prevents restaurant and tavern owners who shut down their business from losing thousands of dollars because they can’t transfer their inventory. I am confident that this sensible deregulation will become law this session.”
The bill now heads to the Senate floor for consideration.