Several cost-saving bills signed into law are set to take effect on Friday, including multiple decreases in fees and $100 million in funding for child care.

These bills are part of a series of legislation from lawmakers to fight the increasing unaffordability of living in Colorado. Gov. Jared Polis championed the legislation as providing quick relief to Coloradans struggling with record-setting inflation, spiking prices of homes and other rising costs, such as the price of gasoline.

“Coloradans are going to see lower costs,” Polis said. “We’re saving people money, cutting costs and making sure there’s more money going back into the pockets of hardworking Coloradans.” 

One of the most expensive bills of the bunch will invest $50 million of economic recovery and relief money and another possible $50 million in federal funds into Colorado’s child care industry. The money will pay for staffing, training and expansion of child care facilities as prices skyrocket throughout the state, with an average Colorado family with two young children spending $28,600 on child care annually, according to federal data.

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Starting on Friday, other bills will reduce licensing fees for health care professionals, lower new business filing fees, cut the amount of sales tax collections the state takes from hospitality businesses, decrease vehicle registration fees and delay the start of a gas tax increase.

While Polis has boasted the bills as helping Coloradans when they need it the most, critics have called the savings inconsequential and an effort to buy votes before the November election.

The bill reducing sales tax collections will save up to $2,000 per business, according to the state. Most of the fee reductions will save much less for average Coloradans, including around $50 for new business filings, $6 in annual vehicle registration fees and $7 in gas spending per year.

Other bills passed this session will have larger financial impacts, such as the implementation of free preschool for 4-year-olds — which is expected to save families around $4,300 — or the expedited tax rebate program — which will send all taxpayers at least $750 this summer.