Mid-Michigan’s marijuana industry is packing bowls and municipalities’ bank accounts.
Genesee County, Shiawassee County and Lapeer County communities are receiving $1,580,696.32 across 28 cities and townships from adult-use marijuana tax revenue sharing payments from fiscal year 2021.
Each eligible municipality will receive $56,453.44 per marijuana retail store or microbusiness.
The Michigan Department of Treasury announced last week that adult-use marijuana payments will soon be distributed to local governments across the state.
Flint, which has distributed five licenses, is receiving $282,267 in marijuana money. Burton, with eight licenses, is receiving $451,627.52.
Last year, Burton received around $140K in marijuana tax that was used to improve local roads in the city. This year, the municipality is receiving more than double that amount.
It’s too early to say what it will be used for, but this income is reassuring that the city council made the right decision to issue marijuana licenses in the first place, Burton Council President Steven Heffner said.
“If we didn’t do it, all the surrounding communities around us would be doing it and the dollars would be going there instead of coming to us,” Heffner told MLive-The Flint Journal. “... This is great for us to receive these dollars. Hopefully we can use it in a way that is beneficial to the residents.”
Mt. Morris Township is receiving $169,360.32 and Thetford Township in Genesee County is receiving $112,906.88.
In Lapeer County, the city of Lapeer will receive $338,720.64 for operating with six licenses.
Shiawassee County’s Laingsburg operates one license and will receive $56,453.44. Owosso, which operates three licenses, will receive $169,360.32.
Across the state, more than $42.2 million will be distributed among 163 municipalities through a revenue sharing program, according to the Michigan Department of Treasury.
Nearly $175 million was collected from a 10 percent excise tax on all recreational marijuana sales in fiscal year 2021, almost quadruple the $45.7 million collected in fiscal year 2020.
“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,” according to the state.
More than $1.1 billion in adult-use marijuana sales were reported in fiscal year 2021.
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