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Sports betting was legalized in Colorado in 2019 with Proposition DD. With the proposition it allowed the state to collect a maximum of 29 million dollars per year from sports betting. With the significant rise in sports betting over the last year it is projected to be over the 29 million dollar cap.
With the current legislation any tax revenue collected that goes past the 29 million dollar cap, would be refunded back to the casinos and sports betting operators. This means that the projected 1.2 million and the 2.5 million forecasted in the 2024-25, and 2025-26 years respectively would not go to the casinos, and would instead be solely directed towards water projects. In turn, this means that the extra amount would increase every year.
If approved what does that mean?
Instead of the current state of any tax revenues being refunded all money would go to the state. This extra tax revenue would be used to fund water projects. Some of the water projects that would be funded being
Environmental and recreation (Watershed health)
Water storage and supply (Reservoirs and water aquifers)
Conservation and land use (Drought planning activities)
Agricultural (Technical assistance or improving water efficiency)
Engagement and innovation (Water education)
Sports betting has continually been a huge help in funding Colorado Water Plan grants. With 43 of the 87 million dollar state budget for the years of 2017-18 and 2024-25.
What are the Pros of Proposition JJ?
A large concern in Colorado is its water scarcity, with the state's rapid population growth the amount of water provided will only dwindle. The extra money collected from sports betting will give significant support to the Colorado Water Plan Implementation Cash Fund, for the Colorado Water Plan.
What are the Cons of Proposition JJ?
It would eliminate the refunds that the state would otherwise be required to pay. The previously approved proposition DD already allowed for a large amount of money. The new proposition leaves that limit open, eliminating all refunds to the casinos and sports betting operators.
Proposition JJ allows for the potential of increased revenue for water projects in Colorado. However, it would remove the refunds given back to casinos and sports betting operations.
Cast Your Impala Ballot
The Impala Ballot is a polling system we plan to use to look at the issues our community cares about and where their feelings lie. These polls are in no way affiliated with any party in the area and the information will only be used by the Poudre Press and potentially PHS Government classes.
Proposition JJ: Are you planning to vote/want to vote for or against?
Yes to Prop JJ
No to Prop JJ
Glossary
Legislation: The current widely accepted law
Proposition: A suggested plan, in this context a suggested plan for a new law/legislation
Revenue: The total money made from selling goods or services, in this case, total money generated from sports betting taxes
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