No real surprise. The super-funded school finance initiative turned in 160,000 signatures. It needs only 86,160. The initiative has already attracted major contributions from an interesting coalition, including: unions that recognize they get most of the money; school reformers who believe unless you give the special interest groups massive incentives they will never reform; and public education activists who have been dreaming of universal preschool and kindergarten for a couple of decades. This will be one of the most closely watched initiatives in the country, and be a major boost or bust the governor.
The title as designated and fixed by the Board is as follow:
SHALL STATE TAXES BE INCREASED BY $950,100,000 ANNUALLY IN THE FIRST FULL FISCAL YEAR AND BY SUCH AMOUNTS AS ARE RAISED THEREAFTER BY AMENDMENTS TO THE COLORADO CONSTITUTION AND THE COLORADO REVISED STATUTES CONCERNING FUNDING FOR PRESCHOOL THROUGH TWELFTH-GRADE PUBLIC EDUCATION, AND, IN CONNECTION THEREWITH, INCREASING THE CURRENT STATE INCOME TAX RATE ON INDIVIDUALS, ESTATES, AND TRUSTS AND IMPOSING AN ADDITIONAL RATE SO HIGHER AMOUNTS OF INCOME ARE TAXED AT HIGHER RATES….
See:
Denver Post: Colo. school tax supporters turn in petitions
Denver Post: Colorado school finance reformers deliver double required signature
The Buzz: Billion dollar school tax increase is significant
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