The Colorado Chamber’s Executive Committee this week voted to support Amendment 77, which would give more gaming options and revenue to the three gaming cities in Colorado – Black Hawk, Central City and Cripple Creek.
Specifically, the proposal would amend the Colorado Constitution to allow voters in the three gaming cities to support increase colorado sports betting and to approve new casino games. It would also expand the current use of casino tax revenue for community colleges.
Under current law, after casino regulation expenses are paid, 78% of gaming tax revenue goes towards funding community colleges while the rest is distributed to local jurisdictions. Additional revenue from increased the betting limits authorized by Amendment 77 would increase the level of funding available to community colleges to provide important educational and employment opportunities during the economic downturn.
Community colleges are critical to supporting the private sector and the state economy as a whole. The Colorado Chamber sees Amendment 77 is an investment in a skilled workforce, which presents an enormous benefit to the business community as the demand for talented workers is greater than ever. This would all be accomplished without raising taxes on hardworking Coloradans.