|
|
Colorado Gaming Association News |
Contact: Lois Rice, 303-237-5480
| August, 2010 |
|
|
Comm. Colleges Get First Gaming Tax Revenues
Colorado's public community colleges, local district colleges and some four-year colleges with two-year missions will receive nearly $6.2 million to supplement state appropriations, thanks to changes in the gaming laws approved by voters in 2008.
Amendment 50 authorized casinos in Black Hawk, Central City and Cripple Creek to increase bet limits, add new games and extend gaming hours. The measure earmarked 78 percent of the gaming tax proceeds from the changes for community, district and junior colleges.
The Colorado Limited Gaming Control Commission authorized distribution of the funds at their August 26 meeting.
"While total gaming tax revenues were up in 2009-2010, the industry is still struggling to recover from the economic downturn," explains Colorado Gaming Association Director Lois Rice. "Despite tough economic times, both the industry and the state are keeping their word to Colorado voters by providing new revenues for community colleges."
|
 Additional Gaming Tax Distributions
In addition to the funds distributed to community, junior and district colleges, the Colorado Limited Gaming Control Commission authorized gaming tax distribution to the following programs and entities, pursuant to Constitutional and statutory requirements:
ORIGINAL RECIPIENTS General Fund - $16,200,000 Local Govt. Ltd. Gaming Impact Fund - $3,772,780 Tourism Promotion Fund - $14,208,915 State Council on the Arts Cash Fund - $1,121,726 Film Incentives Cash Fund - $406,997 New Jobs Incentive Cash Fund - $1,291,231 Innovative Higher Ed. Research Fund - $1,904,251 Bioscience Discovery Eval. Program - $5,500,000 State Historical Society - $24,867,360 Gilpin and Teller Counties - $10,657,440 Cities of Black Hawk, Central and Cripple Creek - $8,881,200
AMENDMENT 50 RECIPIENTS Community College System - $5,377,859 Other Community Colleges & 4-Yr. Institutions with 2-Yr. Missions - $807,854 Counties of Gilpin and Teller - $951,648 Cities of Black Hawk, Central and Cripple Creek 0 $793,040
|
|
|
|
|
|
|
|