According to a legal analysis conducted by the state and obtained by FOX31 Denver, the marijuana revenues are subject to the state’s Taxpayer Bill of Rights (TABOR), which will require lawmakers to take action if tax revenues from the new legal marijuana industry exceed the estimated $67 million in annual revenue that was anticipated in the 2013 Blue Book analysis of Proposition AA, the new sales and excise tax rates voters approved in November.
The most current Dept. of Revenue estimate forecasts that the state will take in $107 million, exceeding the Blue Book estimate by some $40 million.
The conclusion: the state must lower the tax rate and either refund the excess amount of revenues above the $67 million estimate or refer a measure to the November ballot seeking permission from voters to let the state keep and spend all of the tax revenue from recreational marijuana.
Rep. Cheri Gerou, R-Evergreen, also sits on the JBC but, unlike Duran, doesn’t see a referred measure to the November ballot as a real option.
"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther
The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill
Woo hoo! Colorado is awesome. They let you smoke dope legally and then send you money at the end of the year!
:Doh: Downside? Once this gets out, the state will fill up even faster with people.
Thomas Sowell: There are no solutions, just trade-offs.
:rofllol Oh horrors! This will kill our state legislature to have to give anything back. Some how I can see more legal analysis going on trying to find any kind of loophole to keep it.
Not only that downside but our police/sheriff departments aren't equipped to deal with all the associated crime.
And lets not forget that you can also get substance abuse treatment if Hickenlooper has his way.
How Drug Money Is Funding Drug Education
Projected revenue figures for Colorado on marijuana taxes have been revised up and up and up, and Governor John Hickenlooper plans to put almost all of that money toward public health and addiction prevention programs.
http://www.psmag.com/navigation/busines ... ion-76387/
Projected revenue figures for Colorado on marijuana taxes have been revised up and up and up, and Governor John Hickenlooper plans to put almost all of that money toward public health and addiction prevention programs.
FredHayek wrote: Woo hoo! Colorado is awesome. They let you smoke dope legally and then send you money at the end of the year!
:Doh: Downside? Once this gets out, the state will fill up even faster with people.
I told ya back when this amendment was voted on it was too big a money grab. I could have supported it if the tax rate was more reasonable and there was an offsetting tax cut to make it revenue neutral.
It is going to be entertaining to watch though, all the Dem legislators drooling and tripping over one another scrambling to spend this windfall flood of new money on their pet projects. Doin what they do best! :rofllol
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
Driving I-70 today in the morning, I was just thinking myself how empty it was in the early 80's when I was going to high school. Could bury the spedometer every day. Now I am in bumper to bumper traffic very early in the morning.
Thomas Sowell: There are no solutions, just trade-offs.
FredHayek wrote: Driving I-70 today in the morning, I was just thinking myself how empty it was in the early 80's when I was going to high school. Could bury the spedometer every day. Now I am in bumper to bumper traffic very early in the morning.
EHS in the early 80's?
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
