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State distributes adult-use marijuana funds to municipalities

Marijuana Boom Oklahoma
Posted at 12:57 PM, Mar 04, 2021
and last updated 2021-03-04 12:57:32-05

LANSING, Mich. — The Michigan Department of Treasury is distributing nearly $10 million to more than 100 municipalities and counties as part of the Michigan Regulation and Taxation of Marijuana Act.

This week, 38 cities, seven villages, 21 townships and 38 counties began receiving payments from the Marijuana Regulation Fund for every licensed retail store and microbusiness within its jurisdiction, a news release said Thursday.

For the state’s 2020 fiscal year, more than $31 million was collected from the 10% adult-use marijuana excise tax.

Combined with fees, there was a total of $45.7 million available for distribution from the fund.

Aside from the nearly $10 million in disbursements to municipalities and counties, around $11.6 million will be sent to the School Aid Fund for K-12 education and another $11.6 million to the Michigan Transportation Fund, upon appropriation.

The remaining $12.5 million amount will be used toward start-up and administrative costs.

In total, more than $341 million in adult-use marijuana sales was reported for fiscal year 2020.

“The team at the Marijuana Regulatory Agency did a tremendous job getting the adult-use licensing program established and operating efficiently,” MRA Executive Director Andrew Brisbo said. “Infusing over $28,000 per retailer and microbusiness into local government budgets across the state is very impactful and shows how strong and successful the industry is becoming.”