Colorado Legislators Take It Slow On Pot Spending

But the Joint Budget Committee wants to wait to spend marijuana taxes the year after they are collected. That would leave the state with just $20 million to spend in the budget year that starts in July.

COLORADO:  Legislators proceeded cautiously Tuesday when deciding how to spend marijuana tax money, the state’s biggest and most volatile new source of revenue.

Gov. John Hickenlooper has asked for $54 million in spending from marijuana taxes in order to fund law enforcement, anti-drug programs and health care for substance abusers.

But the Joint Budget Committee wants to wait to spend marijuana taxes the year after they are collected. That would leave the state with just $20 million to spend in the budget year that starts in July.

“If we don’t do this from the onset, we’re going to miss the opportunity to do this right,” said Sen. Pat Steadman, D-Denver.

Read full article @ Durango Herald

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