Colorado voters approved Proposition NN on Tuesday, Nov. 3, clearing the way for billions of dollars in new K-12 education funding over the next decade.

The measure passed with about 55% of the vote, according to the Associated Press, as reported by Colorado Newsline. It raises the state's Taxpayer's Bill of Rights (TABOR) revenue cap by $4.6 billion and requires lawmakers to increase education spending by 2% each year for 10 years. That money will flow to school districts statewide, including Cherry Creek School District and Littleton Public Schools.

The full $4.6 billion won't arrive overnight. Budget projections show the state is likely to collect about $500 million in additional revenue in the first year, according to Chalkbeat Colorado. It will take time for collections to reach the higher cap.

Where the money goes

The measure directs revenue exceeding the TABOR cap to publicly funded schools, starting in the 2027-28 budget year through 2034-35, according to Rocky Mountain PBS.

Lawmakers must prioritize school district funding, teacher pay raises, career and technical education and smaller class sizes. Some money could also go toward services for students with disabilities, with any remainder funding preschool and child care.

After 10 years, lawmakers could use the money for other programs in addition to education.

How individual districts spend the funds is up to them, Colorado Education Association President Kevin Vick said, though the state Legislature will audit spending each year.

Supporters and skeptics

Vick called the result a historic win that could be one of Colorado's biggest-ever infusions of money into K-12 education. He said the measure will help keep more teachers in the profession. Only two-thirds of Colorado teachers stayed in public schools after five years of teaching, according to state data cited by Rocky Mountain PBS.

"Provided our economy even grows at a moderate rate, we can expect to see significant recurring funding go directly to our schools, guaranteed," Vick said, according to Denver7. He cautioned it might take several years before a substantial boost to K-12 funding occurs and that everyone is "going to need to be a little patient."

State Sen. Jeff Bridges, who authored the proposition and won the state treasurer race on the same night, said on election night that passing the measure would be the most impactful thing he had done as a legislator.

Not everyone celebrated. Douglas Bruce, the original author of TABOR, said he is unsure the measure will hold up. He said state laws cannot override the state constitution and that the measure could get tied up in court.

Rebecca Sopkin, corporate treasurer of the TABOR Foundation, voted against the initiative. "When we keep raising the cap, you just put off those reckonings that we need to have," Sopkin said, according to Rocky Mountain PBS.

A long road to the ballot

Prop NN was the only measure referred to voters by the state Legislature. Chalkbeat Colorado reported that more than 70 advocacy groups and school boards supported the measure.

The measure marks at least the fifth attempt in the last decade to ask Colorado voters to make tax changes to raise more money for public education and other purposes. Voters rejected Proposition CC in 2019 and Proposition HH in 2023.

Whether Prop NN will reduce or entirely eliminate TABOR refunds depends on how much revenue the state collects each year.