Colorado has a unique problem: tax revenue from the legalization of marijuana has filled state coffers, and now the government has to return some of that money to taxpayers.
The cannabis tax generated around $50 million in 2014. Under legislation known as the Taxpayer Bill of Rights (TABOR), the government may have to refund nearly $30 million.
“It’s sort of an interesting bind for the legislature, but I think it speaks to the innovative thinking going on here,” Brian Vicente, the Executive Director for Sensible Colorado told The Early Edition’s Rick Cluff.
“There (are) a lot of places that are having budget crunches, and in Colorado we’ve taken this bold step forward and taxed and regulated this product, and it really seems to be helping our state out quite a bit.”
CBC News –Â Feb 06, 2015.
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