• August 9, 2020

Colorado Voters to Decide on Nicotine Tax in November

Photo: Yekophotostudio | Dreamstime.com

Voters in Colorado will make the decision on whether to raise taxes on nicotine products in November. The Centennial State’s governor, Jared Polis, signed legislation on Wednesday referring a question to the statewide ballot.

“Colorado voters will have a really important opportunity this November to say it’s time that Colorado no longer be the top state for teen vaping,” Polis said, according to an article thecentersquare.com. “It’s time that we help make sure that less kids get hooked on nicotine, a habit that is hard to kick and often stays for life and will shorten their lives.”

Polis added the measure would be “an extra boost for smoking cessation programs.” Voters must approve the measure under the state’s Taxpayer’s Bill of Rights (TABOR) because it includes a proposed tax increase, according to the article.

A fiscal note for the legislation says the measure, if approved, would bring in $82.7 million in fiscal year 2020-21, and $167.6 million in fiscal year 2021-22.

Revenue from the tax increases would go toward the State Education Fund, Rural Schools Fund, a preschool program, tobacco education programs, and a health care fund.

Last year, a measure to increase taxes on tobacco and nicotine products that had Polis’ backing didn’t make it through the legislature.