DENVER – Colorado’s pot industry may be booming, but state lawmakers aren’t sure how to spend the windfall.
A legislative budget committee decided not to vote Monday on a $54 million plan from Gov. John Hickenlooper to spend marijuana revenues on drug education and outreach. The governor wants to spend recreational pot taxes to fund everything from increased drug-prevention outreach to a new study on marijuana use by pregnant women.
Instead, the Legislature may decide to spend very little of the state’s marijuana-tax collections. Worried about yo-yo tax collection and wildly different projections on how much pot taxes will produce this year, legislative budget writers passed around a draft bill Monday to delay almost all marijuana spending a full year.
“This whole house of cards could collapse in the near future,” said Democratic Sen. Pat Steadman of Denver, warning a future White House could stop Colorado’s pot plans short.
As the first state to reap sales and excise taxes from recreational pot sales, Colorado is expected to earn more than $40 million already earmarked by voters for school construction.
The rest of the windfall is up to lawmakers to appropriate. But with only two months of data on a brand-new industry, lawmakers from both parties are openly nervous about starting new programs the state won’t be able to afford in future years. The uncertainty was on full display Monday when the governor’s marijuana adviser, Andrew Freedman, met with legislative budget-writers to explain the governor’s pot plans.
Freedman insisted the governor’s plan is a prudent approach to try to mitigate harmful effects from marijuana legalization.
Lawmakers also heard from the head of the Colorado Association of Chiefs of Police, a group wanting lawmakers to set aside money to train additional police officers to catch drugged drivers.
Lawmakers haven’t set a date on deciding on how to spend the pot tax money.
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