High Profits: Arizona Colleges Get Windfall From Marijuana Sales
More marijuana sales mean more funding for community colleges throughout Arizona.
The state’s 10 community college districts got a windfall of over $31 million from big spending on recreational marijuana in the first year of sales in 2021.
The Proposition 207 voter initiative that legalized recreational marijuana created an excise tax of 16% and required the state to distribute about one-third of that money to community colleges, with the rest mostly to public safety departments and transportation, health, and criminal justice programs.
Colleges can use the funds for workforce development, STEM, and certain other education programs, the Arizona Republic reported.
The funding boost to colleges is significant — it’s less publicized, but about equal in size to Gov. Doug Ducey’s proposal to put $30 million in federal funds toward six new “workforce accelerators” at community colleges across the state.
Read more: https://coppercourier.com/story/high-profits-arizona-colleges-get-windfall-from-marijuana-sales/