Capitol DomeColorado Gaming Association
News  
Contact: Lois Rice, 303-237-5480
August, 2010
students
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."
 
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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