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The boards of directors of the Eagle River Water & Sanitation District and the Upper Eagle Regional Water Authority have unanimously approved a joint resolution in support of Proposition DD, which is on the Nov. 5 statewide ballot.
If approved by voters, Proposition DD would legalize sports betting in Colorado and direct a majority of the proceeds toward implementation of Colorado’s Water Plan. The measure proposes to generate this revenue by placing a 10% tax on the net proceeds of casinos that offer sports betting.
Colorado’s Water Plan was adopted in 2015 and outlines broad concepts for meeting state water needs through the year 2050. The plan has a projected 30-year price tag of $20 billion, $3 billion of which is identified as unfunded from existing revenue resources. While Proposition DD would begin to address this funding gap, its revenues are only projected to generate between $10 million and $15 million annually. With that in mind, the Boards noted that “Proposition DD will only be a start toward fully funding Colorado’s water supply needs and it is the expectation of these Boards that the General Assembly will fund the additional needs from the General Fund.”
If approved, revenues from Proposition DD could be used for Water Plan Implementation Grants to fund water projects in the following categories: agricultural water efficiency; conservation, land use, and drought planning; environmental and recreation; water education, outreach, and innovation; and water storage and supply. Revenues from Proposition DD could also be used to ensure compliance with interstate water compacts.