Colorado Lawmakers Begin Work On Marijuana Tax Refund Proposal

COLORADO:  Just recently, Colorado lawmakers realized that they may have to return a large quantity of the tax revenue they received from cannabis sales. The state made around $76 million in the very first year of legal marijuana, which had been allocated for use by the state to repair schools and fund important educational programs and improvement projects. However, due to a strange legal happenstance they are being forced to return almost $58 million of tax revenue to the taxpayers and marijuana growers of the state.

This rather bizarre legal quandary has forced Colorado lawmakers to scramble to find an answer to the solution, as they obviously don’t want to see a large sum of the state’s tax income that was allocated to be used to fund schools and other projects simply be returned. In order to keep the solution to this matter as fair as possible to the taxpayers, the state legislature has decided to let the voters decide whether to let the state keep the money or to have it returned to them via a tax refund.

Democratic Senator Pat Steadman and a group of bi-partisan lawmakers will begin this preparing a ballot measure that will ask voters to allow the state to keep the tax refund. The measure itself, titled House Bill 15-1367, explains in detail how the tax revenue money will be allocated and spent if the state government is allowed to keep it. Additionally, it outlines how the money will be refunded to the taxpayers and marijuana growers if the voters decide that they want the money to be returned.