LANSING, Mich. (WOOD) — The state has started doling out tax revenue collected from recreational marijuana businesses, splitting up nearly $10 million and sending it to local governments around the state.
The Michigan Department of Treasury says each of the 38 cities, seven villages, 21 townships and 38 counties will get about $28,000 for each shop within their jurisdiction.
More than $341 million in recreational marijuana sales was reported for the 2020 fiscal year, the Treasury said. Michigan collected more than $31 million in tax revenue, plus fees that brought the total income to $45.7 million.
Some of that money is required by law to pay for the Marijuana Regulatory Agency and some of it goes to help fund clinical trials about the use of medical marijuana among veterans. Those start-up costs took about $12.5 million this time.
The state keeps 70% of the remainder to be split equally between funding K-12 schools and the upkeep of roads and bridges. This time around, each of the funds got $11.6 million.
The other 30% goes to the municipalities and counties.