Elections in Colorado |
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Initiative 126 or the Savings Account for Education Initiative appeared on the ballot as Amendment 59. The measure would have created a savings account in the state education fund funded by 10 percent of the monies deposited into the fund, including revenue that would otherwise be rebated under the Taxpayer Bill of Rights rules (which the measure called for diverting to the fund).
Beginning in 2011, Amendment 59 would repeal the constitutional requirement to increase annual spending on schools by an amount equal to inflation and student-enrollment growth (as required by Amendment 23). The other major part of Amendment 23, requiring annual one-percent increases in school spending, expired automatically in 2010. Amendment 59 was a citizen-initiated constitutional amendment.