COLORADO Colorado lawmakers want to find ways to continue to protect and conserve the state's water by using tax revenues collected from sports betting every year. The question is: why does the state need more funding to continue the water project? The ballot initiative is called Proposition JJ. Right now, in Colorado, if sports betting earns more than $29 million, the rest of the money will be refunded to casinos or sports betting operators, such as online betting companies. Sports betting operators pay a 10% tax on net proceeds. News5 asked the Colorado Water Conservation Board why it's important to have extra funding to move forward. "Water is a really rare source in Colorado," said Cole Bedford, the Chief Operating Officer of the Colorado Water Conservation Board. In 2019, voters approved Proposition DD, which legalized sports betting and allowed the sate to use $29 million annually to fund state water projects. Bedford says future projects are under consideration right now if the ballot passes. "Agricultural projects, conservation land use projects, engagement, water storage projects, and water recreation projects," Bedford said. The Colorado Secretary of State shows there's no organized group against the Proposition. The state ballot information book says, "When the state collects more revenues than voters approved, it should provide refunds rather than expand a government program." ________Watch KOAA News5 on your time, anytime with our free streaming app available for your Roku, FireTV, AppleTV and Android TV. Just search KOAA News5, download and start watching.