Colorado voters approve Proposition NN, directing more funding to public schools

Colorado voters have approved Proposition NN, a measure that will increase funding for public schools while reducing taxpayer refunds under the state's Taxpayer's Bill of Rights, or TABOR.

The measure, which takes effect in 2027, raises the state's TABOR revenue cap, allowing Colorado to retain and spend billions of dollars more in state revenue over time instead of returning that money to taxpayers.

Supporters are calling the measure a historic victory for Colorado educators and students.

"The fact that we have now built a guaranteed dedicated funding source, in addition to what the state has been providing, that is going to be life-changing for the students," said Kevin Vick, president of the Colorado Education Association.

The measure is expected to provide schools with a dedicated funding source and annual funding increases over the next decade, beginning with the next school year.

Vick said the additional funding will help school districts retain educators, increase salaries, and provide greater stability in classrooms.

"It's going to provide more stability for educators, so they can stay in their schools, in their communities, and that's really what you need to improve student achievement," Vick said.

According to the Colorado Education Association, Colorado educators earn nearly 40% less than similarly educated professionals in other industries, giving the state the largest teacher pay gap in the nation.

Vick said increasing salaries is a priority for educators across Colorado.

"By raising salaries, I think we'll create that stability in our districts and in our communities. That's really needed," Vick said.

While supporters celebrate the passage of Proposition NN, opponents are raising concerns about how the additional revenue will be spent.

In a statement to CBS Colorado, Leslie Oliver with the Denver Metro Chamber of Commerce said the organization plans to hold lawmakers accountable for how the money is used.

"Voters approved significant new public investments. The Chamber will work with lawmakers to make sure new funds from NN are actually used for teacher pay and smaller classrooms as the campaign promised and not diverted as a blank check to the General Fund.  We will also keep the focus on funding other pressing priorities, including roads and transportation infrastructure, with clear accountability for results and without new fees on Colorado businesses and families," said Oliver. 

Vick said the additional funding will be tracked separately from the state's existing school funding formula, allowing the public to monitor how districts spend the money.

"We weren't shy about what this was going to do, and the fact that they listened to educators, understood the need, and wanted to help improve the situation, I think that was a big statement that educators really feel thankful for," Vick said.

Proposition NN takes effect in 2027, with schools expected to begin receiving additional funding during the next school year.