Marijuana Law, Policy & Reform

Editor: Douglas A. Berman
Moritz College of Law

Thursday, June 13, 2019

Colorado reports having collected over $1 billion in marijuana revenue since legalization

Colorado public agencies yesterday produced this news release titled "Colorado marijuana industry continues to grow, revenue surpasses $1 billion to date."  Here are excerpts:

Colorado has surpassed $1 billion in marijuana revenue to date since adult-use marijuana sales began in 2014, according to the Colorado Department of Revenue (CDOR)’s monthly reports for marijuana sales and revenue data released today.

“Today’s report continues to show that Colorado’s cannabis industry is thriving, but we can’t rest on our laurels.  We can and we must do better in the face of increased national competition.  We want Colorado to be the best state for investment, innovation and development for this growing economic sector,” said Governor Polis.  “This industry is helping grow our economy by creating jobs and generating valuable revenue that is going towards preventing youth consumption, protecting public health and safety and investing in public school construction.”

To date, marijuana tax, license and fee revenue has reached just over $1.02 billion and marijuana sales to date exceeded $6.56 billion.  Currently, Colorado has 2,917 licensed marijuana businesses and 41,076 individuals who are licensed to work in the industry....

Marijuana revenue supports statewide efforts such as licensing and regulation of legal marijuana businesses, youth prevention efforts, behavioral health treatment, protecting public health and safety, and coordination across state agencies.

Marijuana tax revenue funds Colorado Department of Education programs such as the Building Excellent Schools Today (BEST) capital construction assistance fund, as well as the Early Literacy Competitive Grant Program, School Health Professional Grant Program and the School Bullying Prevention and Education Grant Program.

The Colorado Department of Human Services uses marijuana revenue funds to support community behavioral health programs including mental health services for juveniles and adults, crisis services, criminal justice diversion, the Circle Program, substance use disorder and detoxification services.  Additionally, funds support Mental Health Institutes at Pueblo and Fort Logan and Tony Grampsas Youth Services Program, which is a collection of community based programs that target youth and their families for prevention and intervention services in the effort to reduce incidents of youth crime and violence, to prevent youth marijuana use, and prevent child abuse and neglect.

https://lawprofessors.typepad.com/marijuana_law/2019/06/colorado-reports-having-collected-over-1-billion-in-marijuana-revenue-since-legalization.html

Recreational Marijuana Data and Research, Taxation information and issues | Permalink

Comments

Post a comment