Colorado Governor signs bipartisan water conservation bill into law
Bill gives option for Colorado voters to allow the state to allocate all sports betting tax revenue towards the Water Plan Implementation Cash Fund.
Governor Jared Polis has signed HB24-1436 into law, a bill that would connect the sports betting tax revenue of Colorado and water conservation efforts throughout the state. HB24-1436 will refer a ballot measure to Colorado voters to allow the state to keep and spend all sports betting tax revenue to fund water conservation and protection projects.
“Water is Colorado’s most precious natural resource, because it powers everything we do, from agriculture to our outdoor recreation economy, which is why I am fighting tooth and nail to secure our state’s water future,” Senator Dylan Roberts, D-Frisco said.
“Now, we’re giving Colorado voters an opportunity to join in the fight and allow sports betting revenue to fund critical water projects that will benefit communities across our state. I am proud of this bipartisan effort that will help protect our precious water resources and our Colorado way of life.”
In 2019, Colorado voters approved Proposition DD, allowing the state to spend $29m of sports betting tax revenue per year for water conservation efforts. The current law requires any additional revenue above $29m to be refunded to casinos and online sports betting entities.
HB24-1436 will refer a ballot measure to Colorado voters to allow any revenue above the $29m cap to be transferred to the Water Plan Implementation Cash Fund. This fund supports water projects across the state, including water storage and supply, agricultural projects and watershed health and recreation projects.
“From agricultural use to recreation that drives our tourism economy, protecting Colorado’s waters is essential and will ensure its availability for generations to come,” Speaker Julie McCluskie, D-Dillon said.
“We’re asking for a reaffirmed commitment from Colorado voters to fund our water conservation projects by keeping excess revenue from Colorado’s sports betting tax. I’m proud to carry this law to continue our bipartisan commitment to the future of water in Colorado.”
Speaker McCluskie and Senator Roberts also sponsored legislation that would restore critical protections for Colorado’s streams, rivers and wetlands for waters that are not federally protected.
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