Distribution of revenue
Casinos pay taxes on income from gaming and also pay various fees and fines. Last year, the state collected $112 million from gaming, an effective tax rate of 14 percent. After paying to enforce gaming laws, approximately one-quarter of the gaming money goes back to the gaming cities and counties, about one-quarter goes to historic preservation and restoration projects across the state, and half of the revenue is allocated to the state legislature to spend on programs. These programs currently include assistance to local governments for gaming impacts, tourism promotion, economic development programs, energy efficiency, and renewable energy projects, and highway projects.
Amendment 50 distributes new money from increased gaming activity differently from existing law. First, the casinos keep 86 percent. The 14 percent in tax revenue is then used to pay to enforce gaming laws related to any changes in the limits. Second, some of the new money provides annual increases to the programs and local governments that currently get gaming money. The rest is distributed as follows:
- 78% for financial aid and classroom instruction at Colorado community, junior, and district colleges based on each school's number of students
- 12% to Gilpin and Teller Counties, based on the proportion of the new money raised within each county, to help address the impacts of gaming
- 10% to Central City, Black Hawk, and Cripple Creek, based on the proportion of the new money raised within each town, to help address the impacts of gaming
Estimated distribution of new gaming money under Amendment 50 in millions of dollars [1] [4] | Amendment 50 Recipients | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|
| Additional money to current recipients | $2 | $3 | $4 | $4 | $5 |
|---|
| Community colleges | $29 | $32 | $46 | $52 | $63 |
|---|
| Black Hawk, Central City, and Cripple Creek | $4 | $4 | $6 | $7 | $8 |
|---|
| Gilpin and Teller Counties | $4 | $5 | $7 | $8 | $10 |
|---|
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