Without voter approval, the Taxpayer Bill of Rights requires that money be refunded.
Voters already gave the state permission to charge a higher sales tax on marijuana in 2013. But since the state ended up collecting more tax revenue than estimated, TABOR requires another ballot measure for the government $58 million generated through pot sales.
“The TABOR amendment is requiring voters to again say, 'Yes, we really meant it. We want marijuana taxed. We want the money to benefit schools. We want the money to be used for law enforcement,'” says Democratic Sen. Pat Steadman, who helped craft the bill.
The bill also lowers the states sales tax rate for marijuana from 10 to 8 percent in 2017.
Our lives have changed ...
CPR will not compromise in serving you and our community. Vital news and essential music are made possible by member support.
The novel coronavirus disease continues to affect Colorado residents, families, businesses, and schools. CPR News is committed to giving you the latest, unbiased, fact-based information on the radio, online and on social media.
The Class of 2020 is graduating in unprecedented times. CPR Classical wants to share our public radio stage to celebrate these graduates. We'll present a special hour-long Graduation Celebration honoring this year's graduates on Saturday, May 23. Find out how you can send in a dedication.