Transportation funding measure goes to Colo voters
DENVER, Colorado – Proponents of a plan to invest revenue from oil and gas severance taxes for road and bridge projects have succeeded in getting the issue on the November ballot.
The Colorado Secretary of State’s office says organizers of the measure submitted enough signatures to create what will be known as Amendment 52 for voters in November. If approved, severance tax funding for the Department of Natural Resources would be capped at the 2007-08 level and the surplus collected annually would be used for transportation projects. The change would be permanent.
Proponents say DNR funding would be allowed to grow with inflation.
State Sen. Josh Penry says the plan would mean better roads with no new taxes.
Proponents of the measure say DNR severance tax funding grew from $16 million in 2003 to more than $85 million in 2008.