How does Initiative 63 work?

The measure will divert ⅓ of 1% of already collected taxable income (about $900 million) to the State Education Fund (SEF) and remove those dollars permanently from the TABOR surplus calculation. The SEF is already funded using this mechanism; Initiative 63 will double the current annual diversion to the Fund, and require the newly diverted dollars to be used to attract, retain and pay teachers and student support professionals.

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