Raises $1.6 billion for schools
Amendment 73 raises $1.6 billion in annual new dollars for Colorado public schools through the creation of a Quality Public Education fund. The legislature cannot raid this fund.
Makes tax code more equitable
Right now, middle class households pay more of their income in state and local taxes than the highest income households. Amendment 73 begins to bring balance to our upside down tax code by having the wealthy, the top 8%, pay what they should.
Corporate tax increment
Amendment 73 increases the corporate tax by an increment of 1.37%. This tax increase applies only to C-Corps — small businesses, LLCs & sole-proprietors will see no change in their taxes.
Stabilize local funding
Amendment 73 stabilizes local funding for public schools by dropping and freezing the assessment rates for residential and non-residential properties. This drop in the assessment rate applies ONLY to public school funding.
What about all the pot money?
Revenue raised by the excise tax on marijuana is allocated by the legislature to be about $90 million annually — these funds can only be spent on capitol construction (buildings).