Proposition JJ Approved by Colorado Voters

By Matt Speakman,
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Matt Speakman Betting Expert at online-gambling.com

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Last updated: November 19, 2024

With an overwhelming support of around 76% in favor, Colorado voters officially approved Proposition JJ in the 2024 general election ballot. This means the state will retain all sports betting tax revenue over the previous $29 million cap. The money will fund essential public resources, including the Colorado Water Plan.

Background and Purpose of Proposition JJ

The rapid rise in sports betting tax revenue quickly signaled to the Colorado government about the potential benefits this can have for the state. Under the regulations of the previous Proposition DD, any amount over $29 million was refunded to casinos. Now, the surplus will be used to serve public needs.

The sports betting revenue tax in the fiscal year that ended June 30, 2024, had an estimated surplus of about $900,000. This amount is expected to increase significantly in the following years, reaching $50 million per year through 2050. Most of it will go towards addressing the water shortage crisis in the state.

Funding the Colorado Water Plan

Adopted by the Colorado Water Conservation Board in January 2023, the Colorado Water Plan is a program focused on sustainable water use and conservation efforts across the state?. This is where most additional sports betting revenue tax will be allocated in the foreseeable future.

“This is an exciting and important day for Colorado’s water future,” said Sen. Dylan Roberts, co-sponsor of the bill that put Proposition JJ in the November 2024 general election ballot. “I am very grateful that the voters of Colorado have agreed that we need to continue to invest as much as we can into this important endeavor.”

While the excess tax revenue is not expected to cover the entire funding shortage for the Colorado water crisis, it’ll be a good start and tremendous and much-needed help. It’s apparent that voters from the state realize how pressing the issue is for agriculture, households, and the environment as a whole.

Statewide Significance and Future Implications

The majority of voters’ approval of Proposition JJ underscores Colorado’s commitment to leveraging new revenue sources, such as sports betting, to fund long-term environmental sustainability. This may inspire other US states to invest in similar conservation efforts. Many states, such as Pennsylvania, Tennessee, and New York, allocate gambling tax resources to education.

Others, like New Jersey, for example, allocate money to support responsible gaming and gambling addiction prevention and the state’s pension fund. Illinois allocates sports betting tax revenue to the state’s Rebuild Illinois Fund, which supports infrastructure projects like roads, bridges, and public buildings. Although not explicitly environmental, these projects contribute to long-term development and improvements.

Following the 2018 PASPA repeal, we’ve been witnessing a constantly expanding and growing gambling industry across the country, and we expect the trend to continue. We’ll make sure to keep you posted on any important news related to that. Feel free to reach out if you have any questions or suggestions for what to cover next.