Temporary Modification Of Limited Gaming Tax Revenue Allocation
The act temporarily modifies the manner in which limited gaming tax revenues are allocated between the limited gaming fund and the extended limited gaming fund ( i.e. , the portion of limited gaming tax revenues derived from increased hours of operation, enlarged wagering limit, and the addition of craps and roulette, as authorized by Colorado voters with the passage of Amendment 50 in 2008) in order to more equitably address recovery in the years immediately following the global pandemic and economic recession of 2020. The modification ends in the fiscal year following the fiscal year in which total limited gaming tax revenues again equal or exceed the total limited gaming tax revenues collected in state fiscal year 2018-19.
(Note: This summary applies to this bill as enacted.)