Lamont Makes Marijuana Legalization Debate Real
Taxes on recreational marijuana sales would help fund Connecticut cities and towns under Gov. Ned Lamont’s two-year budget proposal released Wednesday, which counts on the legislature legalizing the substance after years of standstill on the issue.
Legal cannabis would generate modest revenue in the short term. Lamont’s budget assumes $9.9 million in its first year and $32.6 million in the second. Those figures come from a proposed 6.35% sales and use tax and 9.5% excise tax. The proposal also gives municipalities the option of levying their own 3% excise tax.
“Massachusetts dispensaries are advertising extensively here in Connecticut,” Lamont said during his budget address. “And, rather than surrender this market to out-of-staters, or worse, to the unregulated underground market, our budget provides for the legalization of recreational marijuana.”
Lamont’s 163-page bill would legalize the substance as of May 2022. Beginning in 2024, 50% of the new state revenue would be diverted to towns and cities. In addition to legalizing and taxing the substance, the governor’s legislation attempts to tackle social justice issues raised by its historic prohibition.
Read more: https://ctnewsjunkie.com/2021/02/10/lamont-makes-marijuana-legalization-debate-real/
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