New Colorado Laws Impacting Business Owners and Individuals

Effective January 1, 2024, several Colorado laws were ushered in, including minimum wage increases and changes to paid leave.

Minimum Wage

Colorado’s minimum wage was boosted to $14.42 per hour, an increase of $0.77. The minimum wage for tipped employees was also increased to $11.44 per hour.

Plus, in Denver, minimum wage workers get a nearly 6% pay increase as the city’s minimum wage increased to $18.29 per hour beginning Monday.

Paid Leave

Colorado workers will also be able to take more paid time off for family and medical reasons thanks to the state’s new Paid Family and Medical Leave Insurance (FAMLI) program. 

Eligible employees will get up to 12 weeks of paid family and medical leave insurance benefits annually. 

According to FAMLI, “Most Colorado employees become eligible to take paid leave after they have earned at least $2,500 in wages subject to FAMLI premiums, over about a year.”

Additional job protections were also created for:

  • Employees who take paid family and medical leave for a serious illness in their family,
  • The arrival of new children, or
  • Recovery from sexual assault, domestic violence, harassment, or stalking.

The start of 2024 marked a significant shift in Colorado’s labor laws, primarily benefiting workers through higher wages and more comprehensive paid leave policies. If you have questions about how this might impact your business, please give us a call