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Published on Friday, September 11, 2015

First marijuana excise tax revenues to be shared with cities this month

Thanks to the successful passage of HB 2136, cities with marijuana retailers will receive the first distributions of marijuana excise tax revenue this month. Under I-502 there were no provisions for sharing the excise tax revenue with cities. Cities and counties worked together to convince the Legislature that such revenue sharing was needed. The Legislature set aside $6 million for this fiscal year for cities and counties. Cities will receive 40% of those funds based on sales generated by existing retail outlets within the jurisdiction over the last year. The Liquor and Cannabis Board (LCB) is currently working to calculate the first distribution amounts, which will be sent out at the end of September.

Additionally, the LCB continues to work on rulemaking related to the marijuana industry. Currently, the LCB and State Building Code Council are looking at rules for marijuana processing and extraction facilities. The LCB is also updating their local liquor and marijuana application notification process effective October 1 and have asked jurisdictions to update contact information for the notices. For more information, visit the LCB website.

For more information about the recent changes to marijuana laws, AWC has prepared summaries of the two key bills that passed this year, SB 5052 and HB 2136.

Categories: Marijuana