Let’s talk about the impact of pot taxes on Colorado schools for a moment.
Colorado’s voter-approved recreational pot taxes include a 15 percent excise tax on wholesale marijuana that is set aside for school construction capital.
This year, there has been a significant increase in monthly revenue for schools. To compare: in 2014, the excise tax generated $13.3 million total; through five months of sales in 2015, $13.6 million has been amassed. Two factors that have contributed to the increase are more marijuana stores in the state and a one-time tax-exempt transfer that many shops used in 2014 before recreational sales started.
On a recent episode of The Cannabist Show, Denver Post marijuana editor Ricardo Baca and state Sen. Pat Steadman (D, SD-31) discuss how schools can expect to see some of the Colorado pot tax money. Will it be in one lump sum to build a new school, or spread out among many school districts?