After two votes this week, the state is set to start investing extra marijuana tax money in social goods like schools, scholarships, and drug abuse prevention, trying to make good on its promise that legalizing cannabis would benefit all Coloradans.
Coloradans were feeling generous last week.
Two thirds voted in favor of Proposition BB, which allowed the state to hold on to all money raised through marijuana taxes, after Colorado became the first in the nation to legalize and tax recreational use, in 2012.
State law mandates that voter-approved taxes, like the one on marijuana, be returned to citizens if revenue is higher than predicted in the first year. This year, the overflow would have given each Coloradan roughly $8. Instead, they voted to let the state hold on to its $66 million, of which $40 million will go to school construction, $2.5 million to drug education, and another $2 million to other youth programs.
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Molly Jackson~ The Christian Science Monitor
