Quick Notes About Amendment 66
Amendment
66 would
raise almost an additional $1 billion
per year for Colorado’s K-12 schools.
Amendment 66 raises revenue to implement changes made by SB 13-213 to:
· Reduce class sizes by expanding local control over funding and hiring more than 1000 new teachers statewide.
· Invest in early childhood education. Amendment 66 would provide funding to enroll 25,000 at-risk
three and four year olds in high
quality preschool and make full-day kindergarten available.
· Support students by
providing additional funding for special education programs, gifted and
talented students, and supporting at-risk students and
English Language Learners.
· Ensure accountability by allowing taxpayers to compare school spending across
the state and by conducting ongoing evaluations for cost and
effectiveness.
· Strengthen professional development for principals and teachers.
· Allow districts to offer longer school days or years and flexible learning opportunities such
as online learning, work study, internships, and concurrent enrollment.
· Increase
funding for
charter schools and small and rural districts.
· Investments in classroom technology.
Amendment 66 asks voters to increase tax from 4.63% to 5.0% on
the first $75,000 of taxable income, and to 5.9% for taxable income above
$75,000. Median income households would pay an additional $133 per year or
roughly $0.36 a day.
Amendment 66 also modifies Amendment 23 to achieve greater
stability and flexibility in the state budget. Rather than increasing school
funding each year by inflation no matter what, Amendment 66 requires that – at
a minimum – 43% of the state’s general fund be designated to Pre-K through 12th
grade education each year, in addition to the new revenue generated by this
initiative. On average over the past thirteen years, Colorado has spent 46% of
general fund dollars on Pre-K-12 education, according to Colorado Legislative
Council.
