Proposition BB, if approved, would allow the state to retain and spend $66.1 million, which has already been collected, rather than refund it to taxpayers.
According to the Colorado Legislative Council Ballot Information Booklet, a “yes” vote on BB would mean:
• $40.0 million will be spent on school construction;
• $12.0 million will be spent to fund the state programs listed below; and
• the remainder has not yet been allocated because the actual amount of revenue was unknown when House Bill 15-1367 passed.
A “no” vote on BB would mean:
• $25.0 million will be refunded to Colorado residents who file a 2015 state income tax return;
• $24.0 million will be refunded directly to retail marijuana cultivators; and
• $17.1 million will be refunded to retail marijuana purchasers through a temporary reduction in the retail marijuana sales tax rate.