- With the voters’ adoption of the use of RECREATIONAL marijuana, K-12 education receives a portion of recreational (a.k.a. retail) marijuana tax revenues in three forms:
- $40 million of the 15% Excise Tax on retail marijuana is dedicated to the BEST program to help with school construction costs. (Need to quantify this amount as a rough percent of need.)
- Any remaining amount of the 15% Excise Tax on retail marijuana is dedicated to the K-12 “Public School Fund”.
- 12.59% of the State’s 90% share of the 15% Sales Tax on retail marijuana is dedicated to the K-12 “Public School Fund”. This amounted to about $30 million in 2017-18.
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