$42+ million in Michigan marijuana tax revenue to be distributed to communities

+ million in Michigan marijuana tax revenue to be distributed to communities
CANNANNEW REPORT

WILX 10 Michigan LANSING, Mich. (WILX) – More than $42 million will be distributed to Michigan communities. The funds come from tax revenue generated from Michigan marijuana shops. The marijuana industry has made a lot of money since the state legalized it in 2018. Aside from the $42.2 million distributed to municipalities and counties, $49.3 million was sent to the School Aid Fund for K-12 education and another $49.3 million to the Michigan Transportation Fund. Back in 2021, taxes were collected from 374 licenses in Michigan alone and now that money will be distributed to communities across the state. Aaron Dimick, with the city of Jackson, said they won’t be setting aside funds for a specific project at this time, but they plan to look into ways to make the city more fun and safe. “And it goes to pay for city services, like fixing roads, paying for police and fire and our parks,” Dimick said. He added the city has plans to add more dispensaries in the future, but there’s no rush currently. “We’ve been taking it slow,” Dimick said. “This is a new law and this is a new thing that our residents can take advantage of and we want them to take advantage of it so they don’t spend money outside the city.” According to the Michigan Department of Treasury, cities and counties receive more than $50,000 per dispensary. Owosso city manager Nathan Henne said they will get nearly $170,000 due to the city’s three dispensaries. “Owosso has four licenses right now, but we are only operating with about three,” Henne said. “We have that fourth license that the facility has not opened yet and we are working with that company to get up and going.” Read more at https://www.wilx.com/2022/03/25/42-million-michigan-marijuana-tax-revenue-be-distributed-communities/

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