Polis and lawmakers announced the deal to avoid the ballot measure fight on May 5.
Republican State Sen. Bob Gardner, one of the sponsors of H.B. 1472, believes the law will result in “somewhat higher rates for people who have liability insurance policies” but also balances the interests of people seeking to recoup damages after injuries.
“I have voted against raising noneconomic damages caps on multiple occasions in my sixteen sessions of the Legislature, so to be able to vote on a very real compromise that I think made both sides equally unhappy and happy at the same time is a good solution,” Gardner said.
