Colorado voters asked to let state keep pot tax money
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The subscription service is currently unavailable. Please try again later.Among the decisions Colorado voters will make in voting that ends Nov. 3 is how to allocate $66 million collected from retail marijuana taxes.
If voters approve Proposition BB — the Colorado Marijuana TABOR Refund Measure — the state retains the money. If it is rejected, the revenue will be refunded to the marijuana industry and taxpayers.
The state estimates each taxpayer would receive about $8.
Under Article X of the Colorado Constitution — generally referred to as the Taxpayer Bill of Rights — voters must ratify any new taxes.
In 2013, voters approved Proposition AA to establish excise and sales tax on retail marijuana. Proposition AA was required as a result of Amendment 64, which legalized the sale and consumption of retail cannabis to adults 21 and older.
The Taxpayer Bill of Rights requires the state to estimate both the amount of revenue it would collect from...
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