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Colorado voters will decide on Tuesday whether to approve billions for K-12 education by giving up a portion of their annual tax refund.
Proposition NN would increase Colorado’s revenue cap, allowing Colorado to keep more tax money that would otherwise be refunded to residents under the Taxpayer’s Bill of Rights, or TABOR. The state would then need to increase education funding by 2% annually for the next 10 years. Afterwards, lawmakers would still be required to spend money on education, but could also fund other programs.
Starting in the 2026-27 budget year, estimates show Colorado would be allowed to keep up to $4.6 billion more in tax revenue over a 10-year period. But it would take time for the state to raise that much money, and likely would only collect about $500 million in tax dollars in the first year. Whether Proposition NN would reduce or entirely eliminate TABOR refunds would depend on the amount of money collected.
If approved, the ballot measure requires lawmakers to first use money to help fund school districts, teacher pay raises, career education, and smaller class sizes. Some money might also be used for students with disabilities and other other services, with any remaining money paying for preschool and child care.
The measure is supported by a coalition of more than 70 advocacy groups and school boards, including the Colorado Education Association, the Colorado Association of School Boards, and the American Federation of Teachers. Meanwhile, a group of conservative-backed TABOR advocacy groups registered their opposition.
Check back here for election results starting at 7 p.m.
Jason Gonzales is a reporter covering higher education and the Colorado legislature. Chalkbeat Colorado partners with Open Campus on higher education coverage. Contact Jason at jgonzales@chalkbeat.org.
