Colorado expects to collect $99 million in sales tax from its legal marijuana industry next fiscal year and the state now has a plan for how to spend all that new money.
Governor John Hickenlooper is asking lawmakers to devote the lion’s share to keeping kids away from the drug.
In a letter to the legislative budget committee Wednesday, Hickenlooper outlined a spending plan that includes $45.5 million for programs to prevent teen drug use and $40 million for substance abuse treatment. The rest of the sales tax money will be divided between law enforcement, marijuana regulators and public health.
Last November, Colorado voters approved a 10 percent special sales tax on recreational marijuana, on top of the state's standard 2.9 percent tax rate. The measure also included a 15 percent excise tax on the drug, with the first $40 million that money going to fund school construction in the state.