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Cayuga County authorizes finance director to accept adult-use cannabis sales tax, will pass 75% to host municipality
Summary
The Ways & Means Committee approved a resolution authorizing the finance director to accept adult-use cannabis sales tax revenue and to appropriate funds to pay municipalities that host dispensaries under state distribution rules; county officials said the line is an estimate until more quarters of receipts arrive.
Cayuga County's Ways & Means Committee on Wednesday approved a resolution authorizing the finance director to accept adult-use cannabis sales tax revenue and to increase the corresponding budget appropriations so the county can remit required payments to host municipalities.
The resolution covers newly received payments from dispensaries now operating in the county and gives the finance director authority to recognize the gross receipts and distribute the municipal share under state distribution procedures. "We received the payments, and then within 30 days, we have to release 75% of that revenue to the municipalities that the dispensaries are located in," Finance presenter Grace said…
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