Voters Say Pot Tax Revenue Stays With State

· Nov. 4, 2015, 3:09 am
Photo: Marijuana buds July 2015(Nathaniel Minor/CPR News)
Dried marijuana buds at a Colorado grower.

The taxes were approved by a 2-to-1 margin in 2013.  But the voters were given an inaccurate projection of overall state revenues, which came to about $66 million -- more than anyone anticipated. That's when  a little-known provision of Colorado's Taxpayer Bill of Rights kicked in. It says that if a new tax's revenue, or all state tax revenue minus the new tax revenue, exceed estimates, all of the new tax revenue must be given back to voters. 

"For now on we should be on a very normal, predictable path of legal marijuana sales and tax revenues that benefit public schools and kids, and help us deal with any issues that marijuana legalization has brought about," said state Sen. Pat Steadman, a Denver Democrat who ran the campaign supporting the measure.

CPR's Ben Markus contributed to this report.

You care.

You want to know what is really going on these days, especially in Colorado. We can help you keep up.  The Lookout is a free, daily email newsletter with news and happenings from all over Colorado. Sign up here and we will see you in the morning!