“Make Colorado Affordable” housing measure qualifies for November ballot
GRAND JUNCTION, Colo. (KJCT) - The Colorado Secretary of State’s Election Division announced Friday that Proposed Initiative #108, a measure meant to establish a dedicated state fund for affordable housing, has received enough signatures to be included on the 2022 election ballot.
The Dedicated State Income Tax Revenue for Affordable Housing Programs Initiative submitted a total of 230,748 petition signatures, 106,116 signatures over the minimum of 124,632.
“We’re thrilled that this measure is officially on the ballot,” said Brian Rossbert, Executive Director of Housing Colorado. “The people of Colorado have spoken, and they want to make Colorado affordable. Too many Coloradans can no longer afford to live in the neighborhoods where they set down roots. That’s forcings families to make difficult relocation decisions, robbing our communities of essential services and intensifying our homelessness crisis. This measure is desperately needed if we want future generations of Coloradans to thrive.”
The fund will be supported by a dedicated taxpayer fund. According to the measure’s text, this the money will come from “one-tenth of one percent of federal taxable income, as modified by state law, of every individual, estate, trust, and corporation, as defined in law.” This translates to about $300 million annually.
If passed, the measure would open up $6 billion to build 170,000 new homes and rental units built for affordability, according to proponents of the bill.
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