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Board of Education passes resolution in support of Amendment 73

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Board of Education passes resolution in support of Amendment 73

BOULDER - Recently the Boulder Valley School District Board of Education passed a resolution supporting Colorado Constitutional Amendment 73, the Establish Income Tax Brackets and Raise Taxes for Education Initiative.

According to the Colorado Association of School Boards (CASB), the voter initiative originated from a diverse coalition of education-focused organizations that began meeting in July 2016 to discuss possible solutions to Colorado’s school funding issues. Their goal was to raise additional revenue for education that would be distributed adequately and equitably across the state and to provide a structural fix to declining local revenue.

Amendment 73 includes a proposed tax increase, which according to CASB could result in $48.7 million in additional ongoing revenue, based on the current School Finance Act and most recent Colorado Department of Education estimates for 2018-19.* The revenue would be exempt from TABOR revenue limits and must be used to supplement General Fund appropriations for Preschool - 12th Grade public education.

*Amount might vary due to a number of factors, including new legislation or changes in school finance act.

RESOURCES: Factual Information About Amendment 73