Colorado voters may be asked to let more money flow to water projects by allowing the state to keep all of the sports betting tax revenue it collects, if a measure referring the issue to the November ballot is approved by lawmakers.
House Bill 1436 has bipartisan support, with House Speaker Julie McCluskie, D-Dillon, and Rep. Marc Catlin, R-Montrose, serving as the measure’s main sponsors in the House, and Sen. Dylan Roberts, D-Frisco, and Sen. Cleave Simpson, R-Alamosa, leading sponsorship in the Senate.
The sports betting program was initially approved by voters in 2019, passing with just over 51% of the vote. The measure collects a 10% tax on the proceeds of licensed sports betting. Some of the money is used to cover the cost of regulating betting and the rest, up to $29 million total, is funneled toward water projects.
