HB1409

Colorado HB1409 modifies the distribution of retail marijuana sales tax revenue, eliminating local government allocations and adjusting fund.

Colorado HB1409 changes how retail marijuana sales tax revenue is distributed. It eliminates the previous allocation to local governments and instead directs 73.17% to the marijuana tax cash fund, 11.33% to the state public school fund, and 1.5% to the marijuana cash fund. The bill also mandates that the state treasurer transfer from the marijuana tax cash fund to the state public school fund an amount equal to the difference between the fund's balance and 15% of the amount appropriated from the fund in the applicable fiscal year, minus any amount designated as part of the emergency reserve.