Proposition JJ was placed on the ballot by the legislature. It would allow the state to keep sports betting tax revenue above the amount previously approved by voters and use the money for water projects.
When voters approved an amendment legalizing sports betting in 2019, the measure imposed a 10% tax on operators’ proceeds and authorized the state to collect up to $29 million dollars in proceeds which is used primarily for water projects. Any funds above that amount must be refunded to the casinos and sports betting operators submitting the tax payments.
If Proposition JJ is passed, all funds collected from the 10% tax would be retained by the state, with no cap. Retained revenue is estimated at $900k for the current fiscal year, $1.2 million in the 2024-2025 fiscal year and $2.5 million in the 2025-2026 fiscal year.
TABOR limits the amount of taxes that the State can retain in any given year and Colorado struggles to fund critical infrastructure projects. IndivisibleNOCO would rather see TABOR repealed, but until it is, the State needs to retain all the tax revenue it can so it can provide its residents with these critical services. For this reason, IndivisibleNOCO supports Proposition JJ