HB 24-1436 Summary

• Submits a ballot question to Colorado voters in November 2024 asking whether the state should keep and spend all sports betting tax revenue above the $29 million voter-approved estimate for water conservation projects instead of refunding excess revenue to casinos.

• If voters approve ("YES"), all sports betting tax revenue exceeding $29 million annually will be directed to the water plan implementation cash fund rather than refunded to casinos, effective January 1, 2025.

• If voters reject ("NO"), sports betting tax revenue up to $29 million goes to the sports betting fund, and excess revenue goes to a refund cash fund to be returned to sports betting taxpayers by June 30 each fiscal year.

• Since 2020, sports betting has generated over $65 million in tax revenue used for sports betting regulation, addiction treatment, and water plan implementation.

• Establishes new state law sections (44-30-1517, 44-30-1518, 44-30-1519) governing ballot issue procedures, refund cash fund creation, and refund distribution methods based on voter approval.