Elbert County News 11
October 11, 2018
BALLOT FROM PAGE 8
Proposition 110: sales tax and bonds for transportation Another bill to address Colorado’s roads, Proposition 110 would raise the base state-level sales tax rate from 2.9 percent to 3.52 percent for 20 years to fund transportation projects around the state. The proposition would also authorize the Colorado Department of Transportation to borrow up to $6 billion, with a total repayment cost of up to $9.4 billion, to fund a variety of transportation projects. A Colorado family making $74,000 a year would pay roughly $130 more a year in sales taxes. Proponents say the measure would go a long way toward improving Colorado’s deteriorating highways, and that costs only increase the longer maintenance is deferred while population increases.
Opponents say the state should fund road projects with money it already collects, and that sales tax increases disproportionately impact low-income residents. Proposition 111: reducing payday loan rates Payday loans are big business in Colorado, with 207,000 individuals taking out 414,000 payday loans totaling $166 million in 2016, according to state data. Proposition 111 would limit the annual percentage rate for repayment of the small, short-term loans, lowering the maximum APR to 36 percent down from the current average of 129 percent. Other fees can bring the APR up to roughly 180 percent. Under the proposition, repayment on a $500 loan would be no more than $553, as opposed to the current maximum, which could be as high as $793, not including fees that the proposition would eliminate. Proponents say the measure would protect low-income consumers in financial crisis from predatory lenders, and give them a better
chance to repay loans without becoming trapped in a cycle of debt. Opponents say the measure could have the unintended consequence of eliminating the payday loan business in Colorado altogether, stripping consumers of easy access to quick cash that can help stave off bounced checks or utility shutoffs. Proposition 112: oil and gas setbacks Easily the most contentious issue on Colorado’s ballot this year, Proposition 112 would increase the distance that oil and gas development can be built to 2,500 feet from homes, up from the current limit of 500 feet for homes and 1,000 feet from highoccupancy structures. The measure reflects increasing tensions over the presence of oil and gas development in Colorado, where oil production doubled between 2013 and 2017, according to state data. In 2017, there were 54,000 producing wells in Colorado, an increase of 48 percent from 2007. Oil and gas producers paid nearly $500 million in property taxes
in 2017, and had many other wideranging economic impacts. Current oil and gas sites would be grandfathered in, but the law would render 85 percent of non-federal land in Colorado off-limits to future oil and gas development. Proponents say the measure protects residents from potentially harmful health effects of living near oil and gas development, and protects vulnerable natural environments from pollutants. As both residential and resource development encroach on one another, the measure would allow residents greater certainty about the location of future oil and gas apparatus. Opponents say the measure could have devastating effects on Colorado’s economy, majorly scaling back an industry that provides a wide range of jobs that support other industries. The measure could also significantly reduce tax revenue that supports numerous state and local agencies. SEE BALLOT, P12
OBITUARIES CROW-PAOLUCCI
Dr. Gina Crow-Paolucci 7/13/1978 – 9/27/2018
40, of Parker, CO. Dr. Crow-Paolucci practiced with her father, Dr. P.A. Paolucci in Parker. Loving Daughter of Dr. P.A. (Ernie) Paolucci of Parker,
CO and Renee (Vince) Crow of Seattle, WA. For details, please visit ponderosavalleyfunerals.com
HOLT
Robert L Holt Jr. 8/17/1960 – 9/30/2018
Local is big. You’re local. We’re local. We proudly publish 20 local newspapers & websites across the front range including:
“Bobby” 58, of Elizabeth, CO. Manager of Big O Tire in Elizabeth. Loving Husband of 37 Years to Lori. Proud Father of Casey (Kristin) Holt and Cody
Holt. Grandfather of Cade and Logan. For service details, see ponderosavalleyfunerals.com
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