1. (1) There is hereby imposed a tax on sports betting activity, at the rate of ten percent of net sports betting proceeds. The commission shall establish by rule the form and manner in which the tax is collected.
2. (2) Except as provided in subsection (3) of this section, all proceeds of the sports betting tax shall be forwarded to the state treasurer, who shall credit them to the sports betting fund created in section 44-30-1509.
3. (3) Repealed.

Source: L. 2019: Entire part added, (HB 19-1327), ch. 347, p. 3228, § 12, effective May 1, 2020. L. 2024: (2) amended and (3) added, (HB 24-1436), ch. 212, p. 1297, § 2, effective May 20.

Editor's note: (1) Section 16(2) of chapter 347 (HB 19-1327), Session Laws of Colorado 2019, provides that this section takes effect May 1, 2020, only if, at the November 2019 statewide election, a majority of voters approve the ballot question submitted pursuant to § 44-30-1514. That ballot question, referred to the registered electors as proposition DD, was approved on November 5, 2019, and was proclaimed by the Governor on December 20, 2019. The vote count for the measure was as follows:

FOR: 800,745

AGAINST: 756,712

(2) Subsection (3)(b) provided for the repeal of subsection (3), effective January 1, 2025, if a majority of the electors voting in the November 5, 2024, election vote Yes/For the ballot issue referred to the voters pursuant to § 44-30-1517 (2). The ballot issue specified in § 44-30-1517 (2) was referred to the registered electors as Proposition JJ on November 5, 2024, see L. 2025, p. 3635. It was approved by the voters and proclaimed by the Governor on December 17, 2024, with the following vote count:

FOR: 2,340,370

AGAINST: 721,237

Cross references: For the legislative declaration in HB 24-1436, see section 1 of chapter 212, Session Laws of Colorado 2024.