cannabis-tax

Colorado Voters To Decide Who Gets Huge Overflow of Marijuana Tax Revenue

Colorado literally doesn’t know what to do with all of the revenue from legalizing and taxing marijuana. The state has $66.1 million in excess tax revenue from recreational pot sales and the voters get to decide how it’s spent.

Proposition BB, up for a vote in less than two weeks, would allocate all of the extra funds entirely to the state; $40 million for school construction and $12 million for marijuana education.

Governor Hickenlooper, who opposed the legalization of recreational marijuana, now supports keeping all of that revenue for the state.

“All the pot revenue that comes in — our goal is to regulate marijuana, to make sure our kids don’t get access to marijuana and, as the voters originally intended, that we build buildings to improve our K-12 education,” Hickenlooper says in the video below.

If the measure fails, the tax money will be returned to Colorado residents.

According to local NBC News 9:

If the proposition fails, $25 million would be refunded to tax payers, amounting about a $6 to $8 refund for most Coloradans.

As for the rest of the money, $24 million would go to marijuana cultivators and $17 million would be refunded to marijuana purchasers through a temporary sales tax reduction.

 

daily alternative | alternative news – Colorado Voters To Decide Who Gets Huge Overflow of Marijuana Tax Revenue

via Colorado Voters To Decide Who Gets Huge Overflow of Marijuana Tax Revenue.

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