Posted: Sep 1, 2012 12:01 PM by Matt Stafford
FORT COLLINS, Colo. (AP) - It looked like a sure bet.
But a 2008 ballot measure to change gaming rules to benefit community colleges has produced far less revenue than what was forecast four years ago.
The Coloradoan reported that the gaming changes allowed under Amendment 50 in 2008 have produced about $19.7 million in additional revenue for community colleges. The forecast was for an additional $86 million by the current fiscal year.
The gaming changes passed with 59 percent of the vote. State economists say the tax revenues didn't come in as highly as expected because of the economic downturn.