Signed by Governor John Hickenlooper

Vote Smart's Synopsis:

Vote to pass a bill that concurs with Senate amendments and establishes the sales tax for the sale of retail marijuana and the excise tax for the sale of unprocessed marijuana.

Highlights:

• Establishes a 10 percent sales tax rate for the sale of retail marijuana products (Sec. 1).

• Specifies that the 10 percent sales tax for the sale of retail marijuana products is in addition to the sales tax of the local government (Sec. 1).

• Appropriates the revenue from the sales tax on retail marijuana products as follows (Sec. 1):
• 15 percent to local governments; and
• The remaining revenue for the implementation of regulations on the retail marijuana industry.

• Establishes a 15 percent excise tax for the sale of unprocessed marijuana to retail stores (Sec. 2).

• Appropriates the revenue from the excise tax on unprocessed retail marijuana as follows (Sec. 2):
• The first $40 million collected each year to the Public School Capital Construction Assistance Fund; and
• The remaining revenue for the implementation of regulations on the retail marijuana industry.

• Specifies that the provisions of this bill take effect upon approval from the voters in the November 2013 election (Secs. 1 & 2).

• Specifies that if the provisions of this bill are approved by the voters, then the maximum sales tax rate and excise tax rate that may be established by the legislature is 15 percent (Secs. 1 & 2).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that establishes the sales tax for the sale of retail marijuana and the excise tax for the sale of unprocessed marijuana.

Highlights:

• Establishes a 10 percent sales tax rate for the sale of retail marijuana products (Sec. 1).

• Specifies that the 10 percent sales tax for the sale of retail marijuana products is in addition to the sales tax of the local government (Sec. 1).

• Appropriates the revenue from the sales tax on retail marijuana products as follows (Sec. 1):
• 15 percent to local governments; and
• The remaining revenue for the implementation of regulations on the retail marijuana industry.

• Establishes a 15 percent excise tax for the sale of unprocessed marijuana to retail stores (Sec. 2).

• Appropriates the revenue from the excise tax on unprocessed retail marijuana as follows (Sec. 2):
• The first $40 million collected each year to the Public School Capital Construction Assistance Fund; and
• The remaining revenue for the implementation of regulations on the retail marijuana industry.

• Specifies that the provisions of this bill take effect upon approval from the voters in the November 2013 election (Secs. 1 & 2).

• Specifies that if the provisions of this bill are approved by the voters, then the maximum sales tax rate and excise tax rate that may be established by the legislature is 15 percent (Secs. 1 & 2).

Full Bill Text