Proponents of a ballot measure that would send more money to Colorado schools while watering down the Taxpayer Bill of Rights are raising and spending six-figure-plus sums.
Campaign finance reports filed Monday with the secretary of state’s office show that the Savings Account for Education campaign, which is backing Amendment 59, had raised $534,233 from Aug. 28 to Sept. 10. The group also reported having spent $544,924 in the same period, leaving it with $373,787 on hand.
“The challenge this year is the cost of air time,” said House Speaker Andrew Romanoff, D-Denver, a chief architect of Amendment 59.
With 18 issues on the ballot, many of them contentious, the price of TV and radio advertising is through the roof, consultants say.
Proponents of 59 have reported raising $1.3 million in the campaign so far, of which they have spent $949,951.
Major contributors in the most recent reporting cycle include the National Education Association, $250,000; the Denver Foundation, $225,000; the Colorado Municipal Bond Dealers Association, $30,000; Denver philanthropist Merle Chambers, $15,000; and the Community Foundation Serving Boulder County, $5,000.
Amendment 59 would create a rainy-day fund for schools while eliminating the current Amendment 23 constitutional requirement that the state increase education funding each year. It also would repeal a constitutional requirement that the state issue refunds to taxpayers when revenues exceed a growth lid under the Taxpayer’s Bill of Rights.
The amendment would leave in place a TABOR requirement that all tax increases receive voter approval.
Opponents of the measure, who include Rep. Douglas Bruce, R-Colorado Springs, the author of TABOR, have not formed a campaign committee to oppose the measure.
Tim Hoover: 303-954-1626 or thoover@denverpost.com
