Amendment 64, passed by voters in 2012, was touted as both a personal freedom milestone and a surefire way to bring an abundance of tax revenue to the state. Confused about why Colorado hasn’t yet evolved into Dubai 2.0 or why schools keep asking for money? So is just about everyone in the state.
To the state government’s credit, it has followed through in appropriating the correct amount of marijuana-related revenue to public schools: Amendment 64% required the first $40.0 million in excise taxes to be placed in a fund dedicated to school construction. There is also a small portion of the state sales tax revenue that is distributed to the State Public School Fund, but the majority of marijuana sales tax revenue is deposited into the Marijuana Tax Cash Fund.
To learn more, the Colorado Taxpayers Advocate Fund put together a graph to show you just where this money is going. You can also learn more here.
Colorado Taxpayers Advocate Fund, Inc. exists to educate citizens and Colorado public officials on issues of public policy so they can, if they choose, make a difference in their community on issues affecting their city, state, and even their country at large.