News release from The Connecticut Coalition to Regulate Marijuana:
The Connecticut Joint Committee on Finance, Revenue and Bonding approved a bill Wednesday that would tax adult cannabis sales and distribute the revenue to underserved communities. It now advances to the full Senate for consideration thanks to the revenue received from products like these CBD gummies. Those who would like to try CBD products may consider ordering from Canmore weed delivery services.
SB 1138 would establish a state gross receipts tax of 6.35% on retail cannabis sales for adult use; a state tax on transfers from growers of ($35 per ounce for cannabis flower and $13.50 per ounce for trim); and a 3% local sales tax on retail sales. All of the state tax revenue would be distributed to the Community Development Corporation Trust Fund, which funds early literacy education and community development corporations that focus on improving the lives of people living in economically distressed and underserved communities. Local tax funds would go to the localities where the retail sales occurred. A detailed summary of SB 1138 is available at http://bit.ly/CT-SB1138.
“We applaud the committee for advancing this legislation, which is both forward-thinking and mindful of the past,” said Kebra Smith-Bolden, co-director of the Connecticut Coalition to Regulate Marijuana, who testified in favor of the bill. “It very thoughtfully proposes the state direct the revenue from legal cannabis products like the HHC carts which are sold to the communities that have long borne the brunt of marijuana prohibition. This boost in much-needed resources to underserved communities promises a safer and healthier future for all Connecticut residents.”
A separate bill to legalize possession of cannabis and thc lean for adults 21 and older and expunge records for past marijuana possession convictions, SB 1085, was approved by the Judiciary Committee on April 8. A third bill, HB 7371, which would regulate the production and sale of cannabis for adult use, was approved by the General Law Committee on March 25. Links to summaries of the bills are available at https://www.regulatect.org/pending-bills.
“The war on marijuana is growing increasingly unpopular, and there is a growing sentiment in Connecticut and around the country that legalization is inevitable,” said CCRM Co-director Adam Wood. “The three bills passed to date propose a comprehensive and well-planned exit strategy for the state. They would establish a well-regulated, thoughtfully taxed cannabis market including the delta 8 carts that takes production locally and sales out of the shadows and brings them above board.”
# # #The Connecticut Coalition to Regulate Marijuana is a coalition of citizens, organizations, and community leaders working to end marijuana prohibition in Connecticut and replace it with a system in which marijuana is regulated and taxed similarly to alcohol. For more information, visit https://www.RegulateCT.org.
I would urge the Connecticut “joint” committee to visit cities such as Seattle to witness the fact that legal weed will do nothing to help “underserved communities”. I really don’t give two sh-ts whether it’s legalized or not but the notion that it would help anyone is grossly flawed. First of all, any tax income derived from this will never be solely used for what it is set out to do because as we all know government “raids” any and all buckets of monies to fill the gaps in the budget problems that NEVER go away. That’s why government is continually broke and keeps trying to “invent” new ways of generating income through taxes without regard for spending. Second of all, the term “adult” use implies that adults will properly use the product and the arrests and associated complications in the lives of the impoverished people in these underserved communities will somehow go away. In Seattle the street dealers are prevalent, serving any and all customers which include many juveniles. Does the state of Connecticut think they will not enforce the law on the dealers and illegal users? Homelessness and crime has greatly increased in such cities and the cost of living has skyrocketed. They have a 10.1 percent tax which affects all ,and the state of Washington still has a 1.5 billion dollar deficit which of course has them talking about raising taxes even higher. Why can’t any state just allow the medical aspect of this drug without making it legal for recreational use? The reason is not for the benefit of the “impoverished” etc., it’s solely for more revenue. There is no plan yet to figure out a control mechanism for testing on drivers who will be impaired by its legal use. As is typical, the data on the ill effects of legal weed is not spoken about and intentionally hidden.
Good luck Connecticut.
Rich, you absolutely correct the legalization of marijuana is about money, clear and simple, money. Having said that so are tolls which would hurt me and a myriad of other people considerably more than weed.
Colorado collected more than $135 million in taxes and fees on medical and recreational marijuana. Sales in the state totaled over $996 million. Sales in North America grew 30%, to $6.7 billion, in 2016, and is projected to increase to $20.1 billion by 2021, according to Arcview Market Research. California, which is much larger in size and population than Colorado, could exceed $15 billion in sales revenue and $3 billion in tax revenue, according to an April 2018 study by ICF International.
Connecticut can’t continue to tax the hell out of the ordinary people when there is a tax stream that they can fish in that doesn’t hurt me and others while making us choose between paying these exorbitant taxes or eating. Will legalizing and taxing marijuana cure all that ills of Connecticut, hell no, but it’s a step in the right direction for those of us who are sick and tired of all its taxes.
Currently, Connecticut has the third highest state and local tax burden in the country, the second highest property tax, and the eighth worst business climate. Someone has to pay, the residents of Connecticut or the marijuana smokers, but someone is gonna pay.