(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) 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be forwarded to the state treasurer, who shall credit them to the sports betting fund created in section 44-30-1509.(3) Repealed. Amended by 2024 Ch. 212,§ 2, eff. 5/20/2024, 2024 Ballot Proposition JJ passed by voters in 11/5/2024 election.Added by 2019 Ch. 347, § 12, eff. 5/1/2020.L. 2019: Entire part added, (HB 19-1327), ch. 3228, p. 3228, § 12, effective 5/1/2020.(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. itted 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: 800,745AGAINST: 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). For the legislative declaration in HB 24-1436, see section 1 of chapter 212, Session Laws of Colorado 2024.
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