Amendment 66 and Proposed Colorado School Finance Changes

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We are grateful for the support and hard work of nonprofits throughout the state on Amendment 66.  Over the last few months, we’ve reached out to nonprofits to generate discussion and support for a new approach to school finance in Colorado. While voters determined that now is not the time to raise taxes to change how we fund Colorado’s  schools, we are proud of the work by Colorado nonprofits to move this discussion forward.

Having a strong P-12 education system is vital for our children, the prosperity of our communities and  the effectiveness of our nonprofit workforce. Colorado’s fiscal policies should support the ability of our state to provide essential public services. We supported Amendment 66 as a step toward finding long-term solutions to our state’s fiscal challenges. Every Coloradan has a stake in the outcome of discussions like these.

For every nonprofit who endorsed, reached out to their communities, and discussed Amendment 66  with their boards, we greatly appreciate  your efforts.  For those nonprofits who had doubts about raising taxes or the reforms in contained in Amendment 66, we invite and welcome your views.  The problems Amendment 66 sought to address are not going away.   As trusted nonpartisan voices who can develop solutions  to community problems, nonprofits have a key role to play in discussions like school reform and state revenues.   Our voice will make a difference.

We look forward to continued dialogue on these and other issues  important to  our state’s future.

Sincerely,

Renny Fagan, President and CEO

Reason for Support

Colorado’s schools and teachers are responsible for preparing our students for a changing and competitive world. Our investments in a high quality education system should give our state and our children the opportunity to be successful.  These investments should reflect a commitment to reduce class sizes, get the best teachers in the classroom, and provide more modern and technologically advanced classrooms.

As nonprofits require a skilled and educated workforce to strengthen communities and enrich lives, the success of Colorado’s schools is integral to an effective nonprofit sector. Colorado Nonprofit Association supports Amendment 66 to strengthen the K-12 education system for our children, our communities and for Colorado’s future.

About Amendment 66

Amendment 66 would raise an additional $1 billion per year for Colorado’s K-12 schools. Click here to view how this funding is distributed.

Amendment 66 raises revenue to implement changes made by SB 13-213 to:

Making these investments requires additional revenues.  Amendment 66 asks voters to increase tax from 4.63 percent to 5.0 percent on the first $75,000 of taxable income, and to 5.9 percent for taxable income above $75,000. Median income households would pay an additional $133 per year or roughly $.0.36 a day. Click here for more information on how tax rates would be affected.  Click here to use the tax calculator and estimate the effect on your income taxes.

Amendment 66 also modifies Amendment 23 to achieve greater stability and flexibility in the state budget. Rather than increasing school funding each year by inflation no matter what, Amendment 66 requires that – at a minimum – 43 percent of the state’s general fund be designated to Pre-K through 12th grade education each year, in addition to the new revenue generated by this initiative. Colorado has spent 46 percent of general fund dollars on average over the last thirteen years, according to Colorado Legislative Council.

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