Colorado To Start Spending Pot Taxes
DENVER (AP) – After months of uncertainty about marijuana and its tax potential, Colorado lawmakers start work Tuesday deciding how to spend pot taxes.
Voters have already decided to spend the first $40 million on school construction, but anything beyond that is up to lawmakers to appropriate.
Estimates vary widely on how much tax money Colorado will receive from recreational marijuana sales, which just started in January. But legislators should have at least $25 million to spend, with the likely winners to be youth drug-prevention programs and efforts to reduce stoned driving.
The legislative Joint Budget Committee meets Tuesday to review a proposal from the governor on spending the money. The governor has said the top priority should be reducing any negative impacts from legalization on children.
(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
More Marijuana Legalization Stories
- Recreational Pot Eclipses Medical Pot In Colorado
- Colorado’s ‘Green Rush’ Could Be Past Its Peak
- Colorado Struggles To Rein In Medical Pot Market
- Recreational Pot Not Bringing In Tax Money That Was Expected
- Colorado Struggles To Adjust Marijuana Supply
- Marijuana’s Hazy Contribution To Highway Deaths
- Former Police Chief Opens Marijuana Spoof Company