Proposition BB, Retail Marijuana Taxes, will be on the ballot in Colorado this fall.
It asks voters to allow the state to spend the excise and sales tax revenue collected on retail marijuana in budget year 2014-2015 rather than refund it to taxpayers.
"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
If voted down, less than 1/2 of the tax money will go to the general fund taxpayers, while the majority will be rebated back to those who actually paid, the pot growers and stoners. The average taxpayer will get less than $5.
"Lawmakers want voters to decide on whether the $58 million in marijuana tax revenue, projected to bring in this fiscal year, will be refunded to Colorado taxpayers or kept by the State of Colorado.
Under TABOR, or the Taxpayer Bill Of Rights, the money must be refunded. Unless voters allow the state to keep it.
The proposal at the state Capitol states if voters allow Colorado to keep the money, $40 million will go to school construction, $12 million would be designated to help at-risk children, prevent drug abuse and train law enforcement, $6 million would help repay a loan from the general fund for things like pot regulation.
If voters decide to keep the money, much of it goes back to those who paid the taxes. The excise tax dollars, about $20 million, would be refunded to marijuana growers, $13 million would be returned as a temporary sales tax reduction for consumers of pot and $25 million would be refunded as an income tax credit for all taxpayers, amounting to less than $5 a person."
