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Committee weighs change to marijuana tax distribution; members seek three‑year review if state share increases
Summary
JBC staff briefed the committee on amendments that would shift part of the marijuana excise tax from local governments to the state and add a transfer to a marijuana entrepreneur fund, freeing roughly $9.4 million for state use in fiscal 2025‑26.
John Catlett, JBC staff, and Craig Harper briefed the Joint Budget Committee on changes to the marijuana tax cash fund proposed in the chambers.
Catlett laid out the numbers: the fund's beginning balance for fiscal 2025‑26 was projected in staff materials at about $110 million, and the March forecast projected revenue of roughly $130.4 million. Senate and House actions altered distributions: the House ultimately restored a $550,000 transfer for a marijuana entrepreneur fund and the House floor revised the local share…
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