Colorado voters approve spending all tax money from Marijuana sales.

Discussion in 'Marijuana News' started by Green Wizard, Nov 5, 2015.

  1. Colorado allowed to spend marijuana tax money, as voters reject refunds

    \t\tTABOR requirement asks voters to decide whether the state gets to keep $66.1 million in taxes they already have approved
    \t\t\t\t


    Published: Nov 3, 2015, 6:15 pm Comments (4)
    By John Frank, The Denver Post
    Updated Nov. 4, 2015 at 8:55 a.m.

    Colorado voters Tuesday overwhelmingly approved a statewide ballot measure
    that gives state lawmakers permission, once again, to spend $66.1
    million in taxes collected from the sale of recreational marijuana.

    The outcome came as no surprise given its bipartisan backing, and
    election returns as of 9:40 p.m. showed Proposition BB receiving about
    69 percent support, well above the majority-vote threshold, according to
    returns from counties.

    The secretary of state website incorrectly reported the first returns - getting the results backward, officials confirmed.

    BB Retain Revenue
    Yes
    69.4%


    No
    30.5%

    The measure sends the first $40 million to school construction and
    $12 million designated for youth and substance-abuse programs. The
    remaining $14.1 million goes to discretionary accounts controlled by
    lawmakers.

    The ballot question was the third time in four years that voters
    considered how to spend pot taxes, after approving Amendment 64 in 2012
    to legalize marijuana and Proposition AA in 2013 to levy sales and
    excises taxes. In both prior ballot questions, voters sanctioned sending
    $40 million toward school construction.

    “These election results shouldn't surprise anyone,” said Sen. Pat
    Steadman, the Denver Democrat who authored the measure. “Voters have
    twice indicated they wanted marijuana to be taxed, and the vote just
    reaffirms that for a third time.”

    Tuesday's vote became necessary after fiscal analysts underestimated
    how much revenue the state would collect without the new tax in the
    fiscal year ending June 30, 2015.

    The projection is required in the tax's first year by the Taxpayer's
    Bill of Rights, and the mistake mandated a refund unless lawmakers won
    voter approval to spend it.

    If the measure failed, taxpayers would have received a $25 million
    rebate - ranging from $6 to $16 per person, depending on income level -
    and another $41 million would return to marijuana growers and
    recreational users through tax breaks.

    The question generated little attention in the off-year election,
    reflecting the limited controversy on the measure in the General
    Assembly earlier this year. Only 23 of 100 lawmakers voted against the
    bill, all Republicans.

    “We are just fulfilling the promises that were made when Amendment 64
    was passed,” said state Rep. Polly Lawrence, R-Douglas County, in a
    recent interview.

    The “Vote Yes on Prop BB” campaign anticipated raising about $14,000
    but didn't spend any money on advertisements or mass mailers.

    The “No on Prop BB/No on Excess Government” committee didn't collect any money.

    But critics - including Americans for Tax Reform, a Washington, D.C.-based group - sought to label the question as a “tax increase,” adding a political tint to the issue.

    The Independence Institute, a limited government advocacy
    organization based in Denver, also raised questions about how the money
    would be spent, suggesting it could be unsustainable.

    “The original proponents of Amendment 64 were very clever … to tie
    pot taxes to school construction, even though the two have zero to do
    with each other,” said Mike Krause at the Independence Institute. “It
    made it an easy choice for a lot of voters.”

    However, Krause said the vote “shows a degree of inconsistency on how
    people feel about TABOR, because most TABOR overrides, at least
    statewide, don't do well.”

    John Frank: 303-954-2409, jfrank@denverpost.com or @ByJohnFrank

    This story was first published on DenverPost.com
     
  2. Is Colorado going to be the richest State in the country? Looks like it will
     
  3. hell, yeah...go Colorado :D
     
  4. #4 weed_doctor, Dec 3, 2015
    Last edited by a moderator: Dec 3, 2015
    Colorado Springs Shooting: Anti-Pot Activists Blame Marijuana for Murders
    Depositphotos_6103314_m-2015-690x450.jpg Bad news((([​IMG]
    oPBPk3G.jpg






     

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