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Marijuana plants nearing harvest time. Photographed at Grassroots Cannabis in Taneytown, Maryland in 2018. Isabella County and Mount Pleasant are among the state municipalities receiving funding from the Michigan Marijuana Regulation Fund. (Dylan Slagle/Baltimore Sun/TNS)
Isabella County and the City of Mount Pleasant are among 269 municipalities in Michigan receiving funding from the Michigan Marijuana Regulation and Taxation Act.
Isabella County will receive $345,518.10 and the city of Mount Pleasant will receive $295,431.75. According to the Michigan Department of Treasury.
Isabella County Administrator Nicole Frost and Mount Pleasant City Administrator Aaron Desenz said the fund will support their respective general funds.
Marijuana taxes that go into the city’s general fund are not earmarked for specific activities, but help support police, fire, parks and other general government services, Desenz said.
Frost said revenue from the tax on adult-use cannabis will help support the general fund for staffing and services, and the county also received $6,626 in medical marijuana operations and oversight grant funds that come from medical marijuana registration fees. added. It was being used to purchase medicated lockboxes for area residents who needed to keep marijuana items away from children.
Over the next few days, 99 cities, 30 villages, 69 townships, and 71 counties will each receive $59,000 or more for each licensed retail store and small business in those jurisdictions. will receive.
“This week, many municipalities and counties in Michigan will begin seeing a portion of their adult-use cannabis payments appear in their bank accounts,” said State Treasurer Rachel Eubanks. “Through the partnership, money raised from adult-use marijuana taxes and fees will be distributed to our participating communities.
“These funds may be used in any manner our local forces determine suits their needs.”
During fiscal year 2023, revenue was collected from 737 licensees in the state’s cities, villages, and townships. Some of these municipalities host multiple licensed retail stores and small businesses.
In state fiscal year 2023, more than $290.3 million was available for distribution from the Marijuana Regulation Fund.
State law outlines the amount to be distributed from the Marijuana Regulatory Fund.
In addition to the more than $87 million in spending for local governments and counties, $101.6 million will go to the K-12 School Enrollment Fund and an additional $101.6 million to the Michigan Transportation Fund. I did.
“Cannabis excise tax revenue for local governments and counties is a critical benefit to Michigan’s legal cannabis industry,” said Cannabis Regulatory Agency (CRA) Executive Director Brian Hanna. “CRA is committed to playing a supporting role so our licensees can continue to grow local economies across the state with good-paying jobs and increased revenue for local government budgets.”
For more information about the allocation of adult-use marijuana taxes, including a breakdown of how much local governments and counties receive, visit Michigan.gov/RevenueSharing. For more information about Michigan’s adult-use marijuana industry, visit Michigan.gov/cra.
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