Amendment 87, which would replace Colorado's 4.4% flat income tax with a graduated version, continues to face a tight battle.

As of Thursday, the latest election results showed 50.75% of voters for the measure, with 1,233,852 votes, and 49.25% against it with 1,197,357 votes. That's with 100% of precincts reporting across the state.

Constitutional amendments such as Amendment 87 require 55% voter approval, while propositions need a simple majority.

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Amendment 87 is the biggest controversy on the ballot this year because it would be the first change to the state's income tax structure in over 40 years.

The amendment would change the state Constitution by replacing Colorado’s flat income tax of 4.4% with a graduated tax ranging from 3.7% to 8.4%.

The Constitution's Taxpayer's Bill of Rights, or TABOR, currently prohibits a graduated tax.

Proponents argue the measure will help middle- and lower-income Coloradans by giving them a tax cut, but opponents warn the measure could hurt small businesses.

Under Amendment 87, Coloradans making between $500,001 and $750,000 annually would pay 7.4%, while those making between $750,001 and $1 million would pay 7.9%. Those earning more than $1 million a year would pay 8.4%. That’s a 4% increase.

Proposition 136, a cap on the income tax, was another tight call but continues to lead toward failing, with 52.4% against the measure with 1,138,531 votes and 47.60% for it with 1,253,531 votes.

Proposition 136 would cap Colorado's state income tax rate at 4.4% of federal taxable income for individuals and corporations.

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The proposal would establish a statutory limit on the income tax rate. The measure could conflict with Amendment 87, which proposes replacing the flat tax with graduated rates. If both measures pass, the one with more affirmative votes would prevail.

The fate of Proposition 135, another important measure that would prohibit gender-altering surgeries on minors, continues to be uncertain, but is trending toward passing, with 52.34% for the measure with 1,269,232 votes and 47.66% against with 1,144,533 votes.

Under Proposition 135, a “yes” vote meant healthcare professionals across the state would be prohibited from performing surgeries on minors intended to alter their biological sex.

The measure, which remains in a tight contest, would also prohibit prescribing, administering or providing those surgeries to minors and prevent state or federal funds, Medicaid reimbursement and insurance coverage from paying for them.

Proposition NN passed with 55.9% and 1,358,868 votes for the measure. This would increase state investment in K-12 public education by 2% annually for the next 10 years. The funding would support teacher pay, teacher retention, smaller class sizes and expanded access to career and technical education courses.

It would allow the state to retain and spend additional revenue by raising the annual state spending limit by the amount spent on public K-12 education. Critics argue the proposition overrides TABOR by allowing the state to keep the revenue it accrues instead of refunding it back to the taxpayers.

Proposition 134 has 52.71% of the ballots, with 1,276,774 for the measure and 47.29% with 1,145,404 against. This would restrict participation in K-12 and college sports based on biological sex. Schools and athletic organizations would be required to designate teams as male, female or coeducational. Participants generally would only be allowed to compete on teams corresponding to their designated sex, with an exception allowing females to compete on male-designated teams when no female team is available.