Amendment 66 talk tonight at Avon Library | VailDaily.com

Amendment 66 talk tonight at Avon Library

Daily staff report
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AVON — Today at 6 p.m., Colorado for Education Reform will lead a discussion on Amendment 66 at the Avon Library. This is a bipartisan coalition developed to advocate for education reform. The program is being sponsored by Eagle County Republican Central Committee.

Amendment 66, which has been put on the ballot as a result of a citizens’ petition, proposes amending the state Constitution to change how the state funds schools. The changes include raising taxes, changing how the state distributes funding to school districts and requiring a fixed percentage of revenue from certain state taxes be set aside for schools.

Passage of the amendment would result in a graduated tax increase for citizens with a different rate for the under-$75,000 taxable income group and those with income of over $75,000.

Additionally, a new formula for allocating state and local funding to schools will be implemented while also requiring 43 percent of state income, sales and excise tax revenue be set aside annually to pay for education.

If passed, it will increase state tax revenue by $452 million in budget year 2013-14, $950 million in 2014-15 and $1 billion in 2015-16. There is no sunset provision attached to this amendment.

Anyone interested in learning about this amendment, which will appear on the November 2013 ballot is invited to attend. For more information, call Kaye Ferry at 970-376-5100.