LANSING, MI (WKZO AM/FM) — The Michigan Department of Treasury announced on Thursday, March 24, that more than $42.2 million dollars will be distributed among 163 municipalities and counties as a part of the Michigan Regulation and Taxation of Marijuana Act.
Over the next week, 62 cities, 15 villages, 33 townships and 53 counties will receive payments from the Marijuana Regulation Fund, with Calhoun, Kent, and Kalamazoo Counties getting over one million dollars each.
Bigger picture here says the Michigan Department of Treasury is that each eligible municipality and county will receive more than $56 thousand dollars for every licensed retail store and microbusiness located within it’s jurisdiction.
“The Michigan Department of Treasury will distribute these dollars as soon as practical to eligible local units of government,” said State Treasurer Rachael Eubanks. “The doubling of this year’s payment amounts will have a larger impact on local government budgets.”
More than $111 million was collected from the 10% adult-use marijuana excise tax for the 2021 fiscal year.
Aside from the more than $42.2 million in disbursements to municipalities and counties, $49.3 million was sent to the School Aid Fund for K-12 education and another $49.3 million to the Michigan Transportation Fund. In total, more than $1.1 billion in adult-use marijuana sales was reported for fiscal year 2021.
“It’s rewarding to see that the agency’s balanced regulatory approach is effectively protecting consumers while still allowing Michigan businesses to grow and thrive,” said MRA Executive Director Andrew Brisbo. “The funding provided directly to local governments – and the thousands of jobs created across the state – show that Michigan is leading the way in the cannabis industry.”
For more information about adult-use marijuana tax distributions – including a breakdown of how much municipalities and counties received – go to Michigan.gov/RevenueSharing. To learn more about Michigan’s adult-use marijuana industry, go to Michigan.gov/MRA.
