A proposed ballot initiative to eliminate a tax credit for the oil and gas industry could raise as much as $321 million a year for college scholarships and other programs, according to the approved ballot language for the measure.
That number, based on the upper estimate by Gov. Bill Ritter’s budget director, is the largest yet for how much the proposed initiative could bring in.
Proponents have previously talked about the initiative raising between $200 million and $300 million a year.
The figure comes as the competing sides of the initiative point to polls that paint a contradictory picture of whether Coloradans want to effectively raise taxes on one of the state’s largest industries and use the money to fund scholarships and other programs.
Washington, D.C., pollster Andrew Myers said he recently finished a poll for a private group that shows voters overwhelmingly supporting the measure. But a poll from Texas pollster David Hill, commissioned by the group fighting against the initiative, has voters opposing the measure.
Both sides declined to release the complete details and results of their multi-question polls.
Initiative backers have until Aug. 4 to collect enough signatures to put the measure on the ballot.
John Ingold: 303-954-1068 or jingold@denverpost.com
