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But It’s Not Been The Panacea For Schools That Some Thought It Would Be.

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During the campaign for Amendment 64, advocates often touted the money the measure would bring in for governments — and schools. “Let’s have marijuana tax money go to our schools, rather than criminals in Mexico,” one commercial said. It’s true that some tax revenue goes to schools: The first $40 million collected each year in excise tax goes to the Building Excellent Schools Today program, which helps fund school construction and renovation projects. But it’s not been the panacea for schools that some thought it would be. While pitching a referendum to local voters last fall, Montrose County School District Superintendent Stephen Schiell said he was constantly asked why more money for schools was needed. “They thought that everyone would get lots of money, that there would be windfalls [after marijuana was legalized]. There isn’t,” he said. The district received a $12.4 million BEST grant this fiscal year to build a new middle school. The grant is covering about a third of the total cost, with local voters ponying up for the remaining $21 million. In reality, marijuana revenue makes up just 5.4 percent of the BEST program’s funds as of September 2015. Excise tax collections have doubled since then, but the lion’s share of BEST funding comes from School Trust Lands.

To read more visit http://www.cpr.org/news/story/under-trump-what-s-the-future-of-marijuana-in-colorado

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