You take the good and you take the bad. Colorado has legalized marijuana and the tax earnings for the state have been pretty phenomenal. On the reverse side, tons more lame blacklight posters have been seen in people’s apartments. It’s a yin and yang thing. On the bummer side? Going to the local park is getting a little harried now that there are dozens of drum circles, but on the brighter side:
In November, Pueblo voters approved an excise tax on marijuana cultivators to fund college scholarships and various other community projects by a 60 to 40 percent margin.
The scholarships will be applicable to students graduating from Pueblo high schools “who have been admitted to colleges and universities located within Pueblo County and will be attending those schools the succeeding fall,” said Paris Carmichael, community information manager for the Pueblo County Board of Commissioners.
[my emphasis]
The county will need to see how the monies come in before assessing how they will break out the scholarships, but it is a good hunk of change.
Carmichael said the county expects $3.5 million to be raised at the 5 percent rate, under Taxpayer’s Bill of Rights estimates. But “if Pueblo County comprises 20 percent of the statewide market and the average wholesale price remains consistent,” she said, “then it would generate $2.5 million at 5 percent.”
The money generated from the tax will be split between two separate funds in Pueblo County — the Pueblo County Scholarship Fund and the Infrastructure and Community Development Fund.
So think of the kids getting an education when your friend makes you sit and listen to his theory on how Jar Jar Binks is the greatest character in western literature. Think of the kids!