CBS Information
(CBS DETROIT) – The state of Michigan is distributing $87 million in marijuana tax income to 269 totally different municipalities, and town of Detroit will obtain $2 million.
These funds can be found via the Michigan Regulation and Taxation of Marijuana Act.
In line with a launch from the Michigan Division of the Treasury, 99 cities, 30 cities, 69 townships and 71 counties will obtain funds from the regulatory background within the subsequent few days.
Every eligible municipality will obtain greater than $59,000 for every licensed retail retailer and micro-enterprise.
“This week, many municipalities and counties in Michigan will start to see their share of grownup marijuana funds seem of their financial institution accounts,” mentioned State Treasurer Rachael Eubanks. “By a partnership, {dollars} obtained from taxes and marijuana charges for adults are distributed to our taking part communities. These {dollars} will be spent as our native items take into account acceptable for his or her wants.”
In fiscal yr 2023, greater than $290 million was out there for distribution from the fund.
Along with this $87 million that was distributed, the Faculty Support Fund for Ok-12 training in Michigan receives $101.6 million, and the Michigan Transportation Fund receives $101.6 million.
“The tax funding for municipalities and counties that comes from the marijuana excise tax is a vital advantage of the authorized hashish trade in Michigan,” mentioned the chief director of the Hashish Regulatory Company (CRA), Brian Hanna. “The CRA is dedicated to doing our half to assist our licensees to allow them to proceed to develop the native economic system throughout the state with good paying jobs and elevated income for native authorities budgets.”
The state has gathered a breakdown of how a lot funding every municipality obtained.
https://www.cbsnews.com/detroit/information/detroit-gets-2-million-in-marijuana-tax-revenue-87-million-going-to-269-municipalities/
