Post by Logan on Feb 11, 2016 5:43:35 GMT -6
With the potential for hundreds of millions of dollars in new revenue on the table, California lawmakers are pursuing a 15 percent medical marijuana sales tax.
Sen. Mike McGuire, D-Healdsburg, on Wednesday introduced legislation to set a statewide assessment; local jurisdictions would still be allowed to pass their own additional sales taxes.
McGuire said he was committed to following long-awaited regulations approved by legislators in the final days of session last September, nearly two decades after voters first legalized medical marijuana, with a funding source for the enforcement structure the law created.
“We know these dollars will be put to strengthening our communities,” he said.
Annual sales of medical marijuana are estimated at more than $1 billion in California, according to McGuire, meaning that his tax could bring in more than $150 million for the state. It would be divided primarily between the general fund and grants for local oversight agencies, with some money for state parks, environmental restoration projects on land damaged by illegal marijuana cultivation, and county drug and alcohol treatment programs.
Read more here: www.sacbee.com/news/politics-government/capitol-alert/article59572921.html
Sen. Mike McGuire, D-Healdsburg, on Wednesday introduced legislation to set a statewide assessment; local jurisdictions would still be allowed to pass their own additional sales taxes.
McGuire said he was committed to following long-awaited regulations approved by legislators in the final days of session last September, nearly two decades after voters first legalized medical marijuana, with a funding source for the enforcement structure the law created.
“We know these dollars will be put to strengthening our communities,” he said.
Annual sales of medical marijuana are estimated at more than $1 billion in California, according to McGuire, meaning that his tax could bring in more than $150 million for the state. It would be divided primarily between the general fund and grants for local oversight agencies, with some money for state parks, environmental restoration projects on land damaged by illegal marijuana cultivation, and county drug and alcohol treatment programs.
Read more here: www.sacbee.com/news/politics-government/capitol-alert/article59572921.html