First proposal made for Ohio marijuana tax revenue

(The Center Square) – An Ohio lawmaker already has plans for an expected boost to state revenues following voter approval of recreational marijuana.

State Rep. Cindy Abrams, R-Harrison, plans a Tuesday news conference to outline her proposed legislation that would use $80 million of marijuana tax money over the next two years as a permanent funding source for training the state’s law enforcement officers.

“Training saves lives,” Abrams said. “Every one of our law enforcement officers should have access to quality training, and this bill will ensure this is Ohio’s reality with sustainable funding. Training sets law enforcement up for success, increases public safety, and strengthens community relations.”

Ohio voters overwhelmingly approved adult-use recreational marijuana last week with a 10% additional state tax on sales. Based on the statute, the anticipated additional $200 million in revenue would be used for administrative costs, addiction treatment and municipalities with dispensaries.

Lawmakers have 30 days to make amendments to the law. Ohioans can begin to possess and consume marijuana Dec. 7.

- Advertisement -

Sales will likely come toward the end of 2024.

The Division of Cannabis Control must be established to set rules for getting a license and product standards, among other things. The state faces a nine-month deadline to issue the first licenses to growers and dispensaries, which will go to existing businesses with medical marijuana licenses and other operators under the equity program.

Senate President Matt Huffman, R-Lima, said lawmakers could adjust tax rates, THC limits – tetrahydrocannabinol, or THC, is the primary intoxicant in cannabis products – and earmarks.

House Speaker Jason Stephens, R-Kitts Hill, wants the Legislature to focus on law enforcement.

spot_img
spot_img

Hot this week

Health care company agrees to pay $22.5 million to settle claims of over billing

A health care company agreed to pay nearly $22.5...

Business association ‘disappointed’ by WA L&I’s proposed workers comp rate hike

(The Center Square) – The Association of Washington Business...

Sports betting bill still alive in Georgia House

(The Center Square) – A bill that would allow...

Sports betting expert offers advice on paying taxes for gambling winnings

(The Center Square) – Tax season is underway, and...

African and Caribbean Nations Call for Reparations for Slave Trade, Propose Global Fund

Nations across Africa and the Caribbean, deeply impacted by...

BlackRock summit to focus on workforce needed for U.S. infrastructure boom

A coalition of government officials, corporate executives, and labor...

Many remain skeptical of WA House’s revised income tax bill

(The Center Square) – Washington Gov. Bob Ferguson may...

Illinois Quick Hits: Report shows Illinois with highest U.S. tax rates

(The Center Square) – A new survey says Illinois...

Legal experts anticipate SCOTUS will overturn drug user gun ban

Legal experts anticipate the U.S. Supreme Court will strike...

Multiple venues, millions of fans in Carolinas eye Live Nation litigation

(The Center Square) – Taylor Swift’s 2022 Eras Tour...

More like this
Related

BlackRock summit to focus on workforce needed for U.S. infrastructure boom

A coalition of government officials, corporate executives, and labor...

The Patient Playbook: Navigating Billing Systems And Reducing Medical Debt

Do you know that you should never pay a...

Many remain skeptical of WA House’s revised income tax bill

(The Center Square) – Washington Gov. Bob Ferguson may...

Illinois Quick Hits: Report shows Illinois with highest U.S. tax rates

(The Center Square) – A new survey says Illinois...