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SENATE BILL 26-076
BY SENATOR(S) Lindstedt and Frizell, Snyder, Bright, Carson, Catlin,
Jodeh, Kirkmeyer, Liston, Marchman, Pelton R., Coleman;
also REPRESENTATIVE(S) Richardson and Stewart R., Keltie.
CONCERNING THE PRACTICE OF CERTIFIED PUBLIC ACCOUNTANTS.
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. In Colorado Revised Statutes, 12-100-108, amend (1)
introductory portion, (1)(a), and (1)(c) as follows:
12-100-108. Educational and experience requirements - rules.
(1) On and after July 1, 2015, a person J ANUARY 1, 2027, AN
INDIVIDUAL meets the educational and experience requirements necessary
to be issued a certificate of certified public accountant if the applicant:
(a) H AS SUCCESSFULLY COMPLETED ANY OF THE FOLLOWING
EDUCATIONAL PATHWAYS:
(I) Has A baccalaureate or higher degree conferred by an accredited
college or university with an accounting program approved by the board or
NOTE: This bill has been prepared for the signatures of the appropriate legislative
officers and the Governor. To determine whether the Governor has signed the bill
or taken other action on it, please consult the legislative status sheet, the legislative
history, or the Session Laws.
________
Capital letters or bold & italic numbers indicate new material added to existing law; dashes
through words or numbers indicate deletions from existing law and such material is not part of
the act.
has a baccalaureate with a nonaccounting concentration supplemented by
what the board determines to be the equivalent of an accounting
concentration, including related courses in other areas of business
administration; and
(II) Has completed at least one hundred fifty semester hours of
college education approved by the board A BACCALAUREATE DEGREE PLUS
AN ADDITIONAL THIRTY SEMESTER HOURS CONFERRED BY AN ACCREDITED
COLLEGE OR UNIVERSITY WITH AN ACCOUNTING PROGRAM APPROVED BY THE
BOARD OR WITH A NONACCOUNTING CONCENTRATION SUPPLEMENTED BY
WHAT THE BOARD DETERMINES TO BE THE EQUIVALENT OF AN ACCOUNTING
CONCENTRATION, INCLUDING RELATED COURSES IN OTHER AREAS OF
BUSINESS ADMINISTRATION; OR
(III) A POST -BACCALAUREATE DEGREE CONFERRED BY AN
ACCREDITED COLLEGE OR UNIVERS ITY WITH AN ACCOUNTING PROGRAM
APPROVED BY THE BOARD OR WITH A NONACCOUNTING CONCENTRATION
SUPPLEMENTED BY WHAT THE BOARD DETERMINES TO BE THE EQUIVALENT
OF AN ACCOUNTING CONCENTRATION, INCLUDING RELATED COURSES IN
OTHER AREAS OF BUSINESS ADMINISTRATION;
(c) (I) Has one year's experience that SUCCESSFULLY COMPLETED
THE FOLLOWING AMOUNT OF ACCOUNTING-RELATED WORK EXPERIENCE:
(A) IF THE APPLICANT IS APPLYING FOR A CERTIFICATE PURSUANT TO
THE EDUCATIONAL PATHWAY DESCRIBED IN SUBSECTION (1)(a)(I) OF THIS
SECTION, AT LEAST TWO YEARS OF ACCOUNTING -RELATED WORK
EXPERIENCE; OR
(B) IF THE APPLICANT IS APPLYING FOR A CERTIFICATE PURSUANT TO
THE EDUCATIONAL PATHWAY DESCRIBED IN SUBSECTION (1)(a)(II) OR
(1)(a)(III) OF THIS SECTION, AT LEAST ONE YEAR OF ACCOUNTING-RELATED
WORK EXPERIENCE.
(II) THE ACCOUNTING-RELATED WORK EXPERIENCE DESCRIBED IN
SUBSECTION (1)(c)(I) OF THIS SECTION MUST:
(I) (A) Meets MEET the requirements set by the board by rule;
(II) (B) Is in I NCLUDE any type of service or advice involving
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REPRESENTING THE SKILLS NEEDED TO SERVE THE PUBLIC AT THE TIME OF
INITIAL CERTIFICATION THAT INVOLVE the use of accounting, attest,
compilation, management advisory SKILLS, financial advisory SKILLS, tax,
or consulting, skills, which may be gained through employment in
government, industry, academia, or public practice; and
(III) (C) Is B E verified by an actively licensed certified public
accountant who meets the requirements set by the board by rule.
SECTION 2. In Colorado Revised Statutes, 12-100-109, amend
(4); and add (4.5) as follows:
12-100-109. Examinations - reexaminations - rules.
(4) A candidate for a certificate of certified public accountant who
meets the educational requirements set by the board by rule is entitled to
take an examination IF THE CANDIDATE:
(a) H AS OBTAINED A BACCALAUREATE OR HIGHER DEGREE
CONFERRED BY AN ACCREDITED COLLEGE OR UNIVERSITY AND COMPLETED
AN ACCOUNTING PROGRAM OR A NONACCOUNTING CONCENTRATION
SUPPLEMENTED BY WHAT THE BOARD DETERMINES TO BE THE EQUIVALENT
OF AN ACCOUNTING CONCENTRATION, INCLUDING RELATED COURSES IN
OTHER AREAS OF BUSINESS ADMINISTRATION; OR
(b) D EMONSTRATES THAT THEY ARE CURRENTLY ENROLLED IN A
DEGREE PROGRAM AT A COLLEGE OR UNIVERSITY THAT CONFERS A
BACCALAUREATE DEGREE AND MASTER'S OR HIGHER DEGREE UPON
COMPLETION OF A COMBINED DEGREE PROGRAM AND THAT THEY HAVE
COMPLETED THE BACCALAUREATE DEGREE REQUIREMENTS AND
ACCOUNTING CONCENTRATION.
(4.5) A CANDIDATE FOR A CERTIFICATE OF CERTIFIED PUBLIC
ACCOUNTANT WHO IS ENTITLED TO TAKE AN EXAMINATION PURSUANT TO
SUBSECTION (4) OF THIS SECTION SHALL , REGARDLESS OF SUCH
ENTITLEMENT, COMPLETE ONE OF THE THREE EDUCATIONAL PATHWAYS
DESCRIBED IN SECTION 12-100-108 (1)(a) TO BE ELIGIBLE FOR A CERTIFICATE
OF CERTIFIED PUBLIC ACCOUNTANT.
SECTION 3. In Colorado Revised Statutes, 12-100-114, amend (1)
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introductory portion as follows:
12-100-114. Partnerships, professional corporations, and limited
liability companies composed of certified public accountants -
registration - rules - definitions.
(1) Except as provided in section 12-100-117 (2) SECTION
12-100-117 (2)(a)(II), a partnership, professional corporation, or limited
liability company engaged in this state in the practice of public accounting
as certified public accountants shall register with the board as a partnership,
professional corporation, or limited liability company of certified public
accountants and must meet the following requirements; and, as used in this
article 100, "partnership" includes a registered limited partnership, limited
liability partnership, limited liability limited partnership, foreign limited
partnership, foreign limited liability partnership, and foreign limited liability
limited partnership:
SECTION 4. In Colorado Revised Statutes, 12-100-117, amend
(2)(a)(I) as follows:
12-100-117. Exceptions - acts not prohibited - rules.
(2) (a) (I) (A) Nothing in this article 100 prohibits A certified public
accountant WHO IS LICENSED OR CERTIFIED IN GOOD STANDING IN ANOTHER
STATE OR JURISDICTION OF THE UNITED STATES AND whose principal place
of business is located in another state or jurisdiction of the United States
from practicing in this state on professional business, as defined by rules
promulgated by the board. The practice shall be conducted in conformity
with rules promulgated by the board HAS ALL THE SAME PRACTICE
PRIVILEGES AS CERTIFICATE HOLDERS IN THIS STATE , AND MAY OFFER OR
RENDER PROFESSIONAL SERVICES , WHETHER IN PERSON OR BY MAIL ,
TELEPHONE, OR ELECTRONIC MEANS , WITHOUT THE NEED TO OBTAIN A
CERTIFICATE PURSUANT TO SECTION 12-100-107 IF THE INDIVIDUAL WAS
REQUIRED AT THE TIME OF INITIAL LICENSURE OR CERTIFICATION IN
ANOTHER STATE OR JURISDICTION OF THE UNITED STATES TO HAVE PASSED
THE UNIFORM CERTIFIED PUBLIC ACCOUNTANT EXAMINATION AND TO HAVE
OBTAINED A BACCALAUREATE DEGREE CONFERRED BY AN ACCREDITED
COLLEGE OR UNIVERSITY.
(B) A CERTIFIED PUBLIC ACCOUNTANT WHO IS LICENSED OR
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CERTIFIED IN GOOD STANDING IN ANOTHER STATE OR JURISDICTION OF THE
UNITED STATES, WHOSE PRINCIPAL PLACE OF BUSINESS IS LOCATED IN
ANOTHER STATE OR JURISDICTION OF THE UNITED STATES, AND WHO, AS OF
DECEMBER 31, 2024, HAS PRACTICE PRIVILEGES IN THIS STATE UNDER THE
RULES ADOPTED BY THE BOARD CONTINUES TO HAVE ALL THE SAME
PRACTICE PRIVILEGES OF CERTIFICATE HOLDERS IN THIS STATE WITHOUT THE
NEED TO OBTAIN A CERTIFICATE PURSUANT TO SECTION 12-100-107.
(C) THE CONFERRAL OF THE PRACTICE PRIVILEGES DESCRIBED IN THIS
SUBSECTION (2)(a)(I) MUST BE CONDUCTED IN CONFORMITY WITH RULES
ADOPTED BY THE BOARD; EXCEPT THAT THE BOARD SHALL NOT REQUIRE A
CERTIFIED PUBLIC ACCOUNTANT WHO IS LICENSED OR CERTIFIED IN GOOD
STANDING IN ANOTHER STATE OR JURISDICTION OF THE UNITED STATES AND
WHO HAS PRACTICE PRIVILEGES IN THIS STATE PURSUANT TO THIS
SUBSECTION (2)(a)(I) TO PROVIDE A NOTICE, FEE, OR OTHER SUBMISSION AS
A CONDITION OF EXERCISING PRACTICE PRIVILEGES IN THIS STATE.
SECTION 5. Act subject to petition - effective date. Section
12-100-108, Colorado Revised Statutes, as amended in section 1 of this act,
takes effect January 1, 2027, and the remainder of this act takes effect at
12:01 a.m. on the day following the expiration of the ninety-day period after
final adjournment of the general assembly; except that, if a referendum
petition is filed pursuant to section 1 (3) of article V of the state constitution
against this act or an item, section, or part of this act within such period,
then the act, item, section, or part will not take effect unless approved by the
people at the general election to be held in November 2026 and, in such
case, will take effect on the date of the official declaration of the vote
thereon by the governor; except that section 12-100-108, Colorado Revised
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Statutes, as amended in section 1 of this act, takes effect January 1, 2027,
or on the date of the official declaration of the vote thereon by the governor,
whichever is later.
____________________________ ____________________________
James Rashad Coleman, Sr. Julie McCluskie
PRESIDENT OF SPEAKER OF THE HOUSE
THE SENATE OF REPRESENTATIVES
____________________________ ____________________________
Esther van Mourik Vanessa Reilly
SECRETARY OF CHIEF CLERK OF THE HOUSE
THE SENATE OF REPRESENTATIVES
APPROVED________________________________________
(Date and Time)
_________________________________________
Jared S. Polis
GOVERNOR OF THE STATE OF COLORADO
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