Governor Jared Polis signed a bipartisan water conservation bill into law yesterday. This bill will present a ballot measure to Colorado voters, proposing that the state retain and use all sports betting tax revenue to fund water conservation and protection projects.
In 2019, Colorado voters approved Proposition DD, which allows the state to keep and allocate $29 million of sports betting tax revenue annually for water conservation efforts. Under current law, any revenue exceeding $29 million is refunded to casinos and online sports betting entities. The new ballot measure, if passed this November, will enable the state to transfer revenue above the $29 million cap to the Water Plan Implementation Fund. This fund supports various water projects across the state, including water storage and supply, agricultural initiatives, watershed health, and recreation projects.
Water conservation is crucial in Colorado due to its semi-arid climate and the increasing demand for water resources. Effective conservation efforts ensure a sustainable water supply for agriculture, recreation, and the growing population while protecting the state’s natural ecosystems. By investing in water conservation, Colorado can mitigate the impacts of drought, promote efficient water use, and preserve water quality for future generations.
