- Posted by Alex de Man
- On July 22, 2015
- 0 Comments
- cannabis, Colorado, legalization, legislation, marijuana, recreational marijuana, schools, taxes
The recreational use of marijuana became legal for those 21 and older in Colorado in November 2012 by the passage of Amendment 64. The Amendment requires the Colorado General Assembly to enact an excise tax for wholesale sales of marijuana, also requiring that the first $40 million in annual revenue be credited to the public school capital construction assistance fund. In the first five months of its enactment, the tax has garnered a record-breaking $13.6 million to be dedicated to Colorado’s schools and is expected to break $30 million by 2016.
Read the article here.