DENVER – Marijuana sales in Colorado are breaking records, reaching more than $1 billion in 2016.
Those record sales are also generating a surplus of tax revenue, which the state is now allowed to keep thanks to the passage of Proposition BB last November. The surplus currently amounts to about $66 million.
What does the state want to do with that money?
Part of it will be used for bully prevention programs in schools. The Colorado Department of Education is offering new grants up to $40,000 per school per year for bully prevention. As part of the grant, schools will receive specialized training from a prevention coach.
Marijuana tax revenue could also be used to help the homeless population. Gov. John Hickenlooper recently proposed a plan to build permanent housing for some of the city’s chronically homeless. However, Hickenlooper’s plan would require a change in Colorado law to get it off the ground.