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Inyo County staff propose limited use of cannabis tax trust to help cover strategic priorities
Summary
County staff told supervisors the 2018 moratorium on spending commercial cannabis tax proceeds has ended; the trust now holds roughly $1.5 million and brings in about $250,000 annually, and staff proposed using a recurring portion of the annual receipts (or limited trust draw) to help fund strategic priorities while continuing to seed the trust.
Inyo County staff on Aug. 6 told supervisors the five-year moratorium on using the county—s commercial cannabis-tax proceeds has expired and that the county now faces a policy choice about whether to begin programming those proceeds into strategic priorities or keep the bulk in the trust.
Why it matters: County staff estimate the cannabis trust holds about $1.5 million and that the annual receipts average roughly $250,000. The trust—s revenue has been cited as a potential recurring income stream to offset ongoing general-fund costs tied to tourism, economic development and public-safety subsidies.
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