Click the link to read the article on The Grand Junction Daily Sentinel website (Charles Ashby). Here’s an excerpt:
April 13, 2024
HB24-1436, introduced by a bipartisan group of four Western Slope lawmakers, would increase the $29 million cap that voters approved when they legalized sports betting in the state, money to be used entirely for water projects. That happened in 2019 when voters narrowly approved Proposition DD, which legalized sports betting in Colorado and imposed a 10% tax on proceeds. Under the bill, which was introduced by House Speaker Julie McCluskie, D-Dillon, and Rep. Marc Catlin, R-Montrose, the state would be able to retain an additional $15.2 million over the next three years…
Tax money from sports betting goes into the Colorado Water Plan Implementation Fund, which is administered by the Colorado Water Conservation Board. That panel doles out the money in the form of grants for projects already identified under the Colorado Water Plan. That plan, implemented in 2015, identified about $20 billion worth of water projects that would be needed to offset dwindling supplies and a handle a growing population.