Legalized marijuana is bringing record high benefits to Colorado schools
The legalization of marijuana in Colorado is benefiting the state's school system in huge ways. The Colorado school system saw more money raised in the first five months of weed being legalized than it saw in all of 2014, KOAA reports. This is all thanks to the marijuana tax for schools in Colorado.
The state's excise tax collections for May showed a huge monetary increase. The recreational weed tax for school construction raised $3.5 million, bringing the current 2015 total to $13.7 million.
To put this in perspective, only $13.3 million was brought in by the tax in all of 2014.
The huge increase is due in part to the increased number of marijuana stores, but it may also be a result of a one-time tax-exempt transfer that was given to shops last year. The tax-exempt transfer allowed for the shops to transfer their medical plants to the recreational pot side.
The map below shows marijuana legality in the U.S.
Marijuana Legality by State | FindTheHome
The excise tax that is put on marijuana will continue to go towards the school construction fund until a total collection of $40 million has achieved. After the state has reached that goal, they will use the funds for other projects.
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