Where will Oregon redistribute its $85 million in cannabis taxes?
Oregon legalized cannabis in 2014 and implemented its regulation in 2015. After 2 years of waiting, the state will start distributing its first revenues from taxes on cannabis sales.
The state had to wait to pay off the debts associated with the implementation of the new cannabis regulation law. The Oregon Liquor Control Commission had taken out a $13 million loan to finance the legalization of cannabis. Now that its debts have been paid off, the state will be able to redistribute the remaining $85 million to various programs.
According to KSDK, The $85 million will be distributed as follows:
- 34 million to finance the state school fund
- 17 million for psychiatric and substance abuse programs
- 17 million for towns and state counties
- 12 million for Oregon police
- 4 million for the State Health Authority
According to the latest estimates, the amount of taxes collected on cannabis sales is set to exceed $2 billion by 2020 across the whole of the United States.
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