(CBS4/AP) – Early election results show Prop CC has failed in Colorado. Voters rejected the measure by more than 10 points as of 9 p.m.

The measure would have allowed state government to keep extra tax revenue which would typically be given back to Coloradans under the Taxpayer’s Bill of Rights (TABOR).

“Prop. CC would have been just one step forward, but not a solution to delivering the schools our students deserve. After decades of disinvestment, TABOR continues to strangle our public services,” said Amie Baca-Oehlert, president of the Colorado Education Association.

The money would have then go toward transportation and schools.

Opponents say TABOR helps the state’s economy and keep check state government growth.

“This is a mandate to the Colorado State Legislature, that they damn well better start prioritizing roads and education without raising taxes,” said Amy Oliver Cooke, executive vice president of the Independence Institute and No on CC coalition member.

RELATED: Proposition CC: Is It A Tax Increase Or Not?

Legislative economists estimate state refunds at $264 million in fiscal year 2019-2020 and $143 million in 2020-2021.

On Monday, the University of Colorado Boulder released survey results in which they polled 800 registered Colorado voters.

Half of registered voters opposed Prop CC, 43% say they were in favor and 7% were unsure.

LINK: Colorado Secretary Of State Unofficial Election Results

(© Copyright 2019 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)

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