$87 million in adult-use Marijuana payments to be sent out across Michigan communities
Michigan to Distribute $87 Million in Marijuana Revenue to Local Communities.
The Michigan Department of Treasury will send more than $87 million in adult-use marijuana payments across the state on Friday.
The payments are part of the Michigan Regulation and Taxation of Marihuana Act.
In the legal text, the spelling of marijuana is spelled as marihuana in Michigan.
Along with the $87 million going to local communities, more than $100 million has already been given to the school aid fund for K-12 education. Another $100 million has also gone to the Michigan transportation fund.
This money comes from collected revenue from licensed dispensaries within Michigan from the 2023 fiscal year.
“The tax funding for municipalities and counties that comes from the marijuana excise tax is a very important benefit of the legal cannabis industry in Michigan,” said Cannabis Regulatory Agency (CRA) Executive Director Brian Hanna. “The CRA is committed to doing our part in supporting our licensees so that they can continue to grow the local economy throughout the state with good-paying jobs and increased revenues for local government budgets.”
The state said each eligible county and municipality will receive more than $59,000 for every licensed store. Money is being sent to 269 towns over the next few days. It was the goal of the State of Michigan to help provide more funds to places that need it.
Since Clinton County has only one retailer, they are getting a little over $59,000.
Eaton County is not eligible for funds, as they only opened one shop in 2023.
Ingham County has the most retailers distributed in Mid-Michigan. They are getting over $1.7 million. Lansing is getting the third-highest amount out of Michigan Cities, with nearly $1.5 million.
Meanwhile, Jackson County is shy of the $1 million mark for their distribution.
People can view the full document here;
State Treasurer Rachael Eubanks said each municipality can use the distribution as they see fit. Revenue was collected from 737 licensed shops during the 2023 fiscal year.
