LANSING – Houghton County and Houghton are among the jurisdictions that receive a portion of the $ 10 million payments made to licensed marijuana companies nationwide.
More than 100 municipalities and counties received money through state law regulating and taxing marijuana. For fiscal 2020, each community and county will receive approximately $ 28,000 for each licensed retail and microbusiness in their jurisdiction.
Houghton County and Houghton will each receive $ 28,001.32. The county’s only active adult store is Northern Specialty Health in Houghton. Two more – one from The Fire Station and one from Lume – are being built nearby.
“The revenue from marijuana taxes and fees is important to our local governments.” State Treasurer Rachael Eubanks said in a press release. “During this extraordinary time, our employees are working on bringing these payments to the communities and districts affected. Every dollar helps now. “
In total, more than $ 341 million in adult marijuana sales were reported for fiscal 2020.
For fiscal 2020 for the state of Michigan, more than $ 31 million was recovered from 10% adult marijuana excise tax. Together with the fees, a total of $ 45.7 million was available for distribution from the fund.
Aside from the nearly $ 10 million in community and county disbursements, approximately $ 11.6 million will be sent to the School Aid Fund for K-12 Education and an additional $ 11.6 million to the Michigan Transportation Fund . The remaining $ 12.5 million will be used for start-up and administration costs.
The Fund’s first priority in allocation is to pay for the implementation and enforcement of the state law establishing the Fund. For the first two years of its existence, $ 20 million or more will be paid for clinical trials of marijuana’s effectiveness in treating diseases in US military veterans and preventing veterans from suicide.
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