DENVER - Colorado Gov. John Hickenlooper has announced a plan to start spending about $100 million in marijuana tax money, the first signal of how much Colorado is reaping from recreational pot sales and what it plans to do with the funds.
The governor wants to spend the money in the next fiscal year on six priorities:
- $45.5M for youth use prevention
- $40.4M for substance abuse treatment
- $12.4M for public health
- $3.2M for law enforcement
- $1.8M for regulatory oversight
- $0.2M for statewide coordination
The money comes from a 10 percent sales tax on recreational pot sales, which began Jan. 1. Thursday is the first deadline for Colorado retail pot shop to report January sales taxes.
An additional 15 percent pot excise tax already is designated for school construction.
The governor's pot tax proposal must be approved by the state Legislature.