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If Proposition II passes, the state government would be able to spend surplus tax revenue from nicotine products to fund universal pre-K.
DENVER — Proposition II is one of two statewide measures on Colorado’s 2023 ballot. If it passes, it will provide additional funding for the state’s Universal Pre-Kindergarten program using money voters already approved in 2020.
In 2020, voters passed Proposition EE, which funded universal preschool by increasing taxes on cigarettes and other tobacco products and created a new tax on nicotine products, like vape pens.
A “yes” vote on Prop II allows the state to keep money that voters in 2020 previously said yes to. The 2020 Blue Book said the state would generate $186.5 million in tax revenue, but the state really made $208 million, which is $21.5 million more than the estimate. With interest, that means the state must ask permission to keep and spend $23.65 million or refund it back to cigarette, tobacco and nicotine wholesalers.
A “no” vote on Prop II means that the state cannot keep more than what was estimated in the 2020 Blue Book and would have to refund the money back to cigarette, tobacco and nicotine wholesalers and distributors, and also reduce the cigarette, tobacco and nicotine tax rates by 11.5%.
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