Pot tax would boost Colo. school funds

Lauren Williams's picture
Thursday, October 24, 2013

A proposed statewide tax on the new recreational marijuana trade would steer an estimated $27.5 million per year into a special fund that provides construction grants for public school facilities across Colorado.

In addition to a 10 percent tax on consumer sales to support state and local regulation of the industry, Proposition AA proposes a 15 percent excise tax on the wholesale end between suppliers and retailers.

The campaign group in favor of the proposal, Committee for Responsible Regulation, estimates the excise tax will generate $27.5 million annually for the state’s Building Excellent Schools Today (BEST) program.

Up to $40 million per year in future taxes could go to public school construction under the proposal, which is before Colorado voters in the Nov. 5 mail ballot election.

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