First State Legislature to Regulate Uber and Lyft: Colorado

The bill out of Colorado will allow transportation network companies to continue to operate in the state. The state's Public Utilities Commission will now have jurisdiction over the companies, which will be classified as transportation network companies, or TNCs. The classification is separate from taxis and limos.

Drivers will be required to have permits to operate. Background checks, vehicle inspections, and personal car insurance will all be required for permitting.

For those keeping track at home, Arizona's Legislature narrowly missed approving similar legislation, which eventually failed after a veto by Governor Jan Brewer. In California, the state's Public Utilities Commission implemented rules for the company without legislative action.