DENVER (KDVR) — Voters in Colorado passed Proposition II, allowing the state to keep $23.65 million in tax revenue collected from cigarettes, tobacco and other nicotine products, and use it for preschool programs.
That measure deals with taxes on cigarettes and tobacco products approved by voters in 2020. Analysts underestimated how much it would take in so, under the Taxpayer’s Bill of Rights, voters needed to be asked if the state can keep the extra money taxes brought in in the first year, including interest.
Full results below: Prop II vote totals
If it was not passed, the funds would have been refunded to wholesalers and distributors of nicotine, and tax rates would have decreased on nicotine products.
Current tax rates on nicotine products will stay the same.
The funds will be used to expand the universal preschool program implemented in Colorado. The funds are anticipated to alleviate some of the program’s rollout issues, like some areas receiving only half-day preschool classes, instead of full-day programs.
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The Associated Press contributed to this report.