Colorado’s tobacco and nicotine taxes will likely remain unchanged and the state will reap an extra $23.65 million in preschool program funding as voters were widely favoring Proposition II i…
After a reading, students from Real Kids Preschool from left to right, Sedik Mote, 4, Dawenise Burks, 3, and Nyimah Bryant, 2, each get to pick out their own book to take home at the Blair Caldwell Library in Denver on Friday, Feb. 10, 2012. The event was part of Black History Month at the library. Colorado’s tobacco and nicotine taxes will likely remain unchanged and the state will reap an extra $23.
Prop. II is a tax-retention measure that asked voters to allow the state to keep excess tax collections under the Taxpayer’s Bill of Rights. It’s a sequel to 2020’s, which raised taxes on cigarettes and other tobacco products and created a new tax on certain nicotine products, such as e-cigarettes and vapes. Voters approved that tax increase by a 2-to-1 margin.
The 2020 measure resulted in more tax revenue collected than state analysts projected, requiring voter approval under TABOR for the state to keep the excess amount. If Proposition II failed, the state would have to refund the extra tax money back to tobacco and nicotine product wholesalers and distributors, as well as lower EE’s tax rates.A year out from Lauren Boebert’s next election, plenty of voters have had enough.
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