Marijuana TABOR Refund (2015)

Colorado's Taxpayer's Bill of Rights (TABOR) requires voter approval of any new taxes. Prior to voter approval, it also requires that voters receive estimates of state spending without new taxes and the new tax revenue. Proposition AA, which authorized the 10 percent sales tax and the 15 percent excise tax on marijuana, met these requirements when it was approved by voters in 2013. This issue brief provides background information on one of the consequences of actual collections differing from what was provided to voters.