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Get Ready Colorado - Lower Marijuana Taxes May be Coming

Submitted by Marijuana News on Fri, 05/22/2015 - 08:00

Get ready Coloradans! The Colorado General Assembly passed a bill on May 6 that would ask voters to exempt marijuana revenues from the state’s Taxpayer Bill of Rights (TABOR) and would lower the special sales tax rate on marijuana. The bill is meant to address the potential refund of an estimated $58 million in retail marijuana tax revenue under TABOR.

State officials would like to keep the excess money and use it for programs such as the Public School Capital Construction Assistance Fund, which receives funding from marijuana tax revenues, instead of refunding the money to taxpayers as required by TABOR. But to do this, Coloradans must give their approval.

That is where HB. 15-1367 comes in. The bill would put the question to a vote during the November 2015 election and voters can approve or reject a proposal for the state to keep and spend the revenue. The following question...

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