Proposition MM (STATUTORY)

Shall state taxes be increased by $95 million annually by a change to the Colorado Revised Statutes to support access to healthy food for Colorado kids and families, including the Healthy School Meals for All program, and, in connection therewith, increasing state taxable income only for individuals who have a federal taxable income of $300,000 or more by limiting itemized or standard state income tax deductions to $1,000 for single tax return filers and $2,000 for joint tax return filers for the purposes of fully funding the Healthy School Meals for All program to continue paying for public schools to offer free breakfast and lunch to all public school students while also increasing wages for employees who prepare and serve school meals, helping schools use basic, nutritious ingredients, instead of processed products, and ensuring that Colorado grown and raised products are part of school meals; supporting the Supplemental Nutrition Assistance Program (SNAP) that helps low-income Colorado families afford groceries; and allowing the state to retain and spend as a voter-approved revenue change all additional tax revenue generated by these tax deduction changes?

Changes in Income Taxes Owed by Income Category
If your income is $299,999 or less the proposed change in average Income Tax owed would be $0
If your income is $300,000 or more the proposed change in average Income Tax owed would be +$486

A “yes” vote on Proposition MM increases state income taxes for households earning $300,000 or more annually. The increased tax revenue will be used to offer free school meals to all public school students,
implement previously approved local food purchasing and employee wage components of the Healthy School Meals for All program, and help fund SNAP.