Colorado has garnered over half a billion dollars in marijuana-related revenue since legal sales began in 2014, according to a new analysis of state data released Wednesday by Denver-based VS Strategies.
The report — which can be found by clicking here — details the sources of the revenue and provides a snapshot of how it is being distributed.
“Legalizing, regulating, and taxing marijuana for adult use has generated hundreds of millions of dollars in new revenue for Colorado,” says Mason Tvert of VS Strategies (Tvert previously worked for the Marijuana Policy Project). “Marijuana tax money has been used to improve a wide range of programs and services. It is funding everything from school construction to substance abuse treatment to fighting homelessness. While it might not fix every school or help every person who needs it, it is having a significant and positive impact on our community.”
Tvert continues; “We hope lawmakers will continue to distribute these funds responsibly and not lose sight of what voters intended when they opted to regulate and tax marijuana similarly to alcohol.”
In May Governor John Hickenlooper signed into law a bill that increased the tax at the point-of-sale for marijuana from 10%, to 15%, which will help to fund schools, hospitals and roads.