More than $42.2 million in marijuana tax revenue will be distributed among 163 municipalities and counties in Michigan.
The state said 62 cities, 15 villages, 33 townships, and 53 counties will be receiving payments from the Marihuana Regulation Fund next week.
Eligible localities will receive more than $56,400 for every licensed retail store and micro business within its jurisdiction.
“The Michigan Department of Treasury will distribute these dollars as soon as practical to eligible local units of government,” State Treasurer Rachael Eubanks said. “The doubling of this year’s payment amounts will have a larger impact on local government budgets.”
Revenue was collected from 374 licensees in Michigan during the 2021 fiscal year. More than $111 million was collected from the 10% adult-use marijuana excise tax. In total, there was $172 million available for distribution from the fund.
$49.3 million was sent to the School Aid Fund for K-12 education and another $49.3 million to the Michigan Transportation Fund. In total, more than $1.1 billion in adult-use marijuana sales was reported for the fiscal year 2021.
“It’s rewarding to see that the agency’s balanced regulatory approach is effectively protecting consumers while still allowing Michigan businesses to grow and thrive,” said MRA Executive Director Andrew Brisbo. “The funding provided directly to local governments – and the thousands of jobs created across the state – show that Michigan is leading the way in the cannabis industry.”
Click here to learn more about marijuana tax distributions.