The Michigan Treasury Department announced today that more than $ 42.2 million will be distributed among 163 municipalities and counties under the Michigan State Act on the Regulation and Taxation of Marijuana.
Next week 62 cities, 15 villages, 33 towns and 53 counties will receive payments from the Marijuana Regulatory Fund. In Michigan’s 2021 fiscal year, this means that each eligible municipality and county will receive more than $ 56,400 for each licensed retail store and microbusiness that are under its jurisdiction.
“The Michigan Treasury Department will distribute these dollars as soon as possible among the relevant local government units,” said Treasurer Rachel Ubenks. “Increasing this year’s payments will have twice the impact on local government budgets.”
During fiscal year 2021, revenue was collected from 374 licensees in the state’s towns, villages, and townships. Some of these municipalities have more than one licensed retail store and microbusiness.
In fiscal year 2021, more than $ 111 million was collected from a 10% excise tax on adult marijuana. A total of $ 172 million was available for distribution from the fund.
In addition to payments to municipalities and counties for more than $ 42.2 million, $ 49.3 million was donated to the K-12 School Aid Fund and another $ 49.3 million to the Michigan Transportation Fund.
In total, more than $ 1.1 billion in adult marijuana sales were reported in fiscal 2021.
“It’s gratifying to see that the agency’s balanced regulatory approach effectively protects consumers while allowing Michigan businesses to grow and thrive,” said MRA Executive Director Andrew Brisbaw. “Funding provided directly to local governments and thousands of jobs created across the state show that Michigan is a leader in the cannabis industry.”
For more information on the distribution of the marijuana tax for adults – including a breakdown of how many municipalities and counties received – go to Michigan.gov/RevenueSharing. To learn more about the marijuana industry for adults in Michigan, go to Michigan.gov/MRA.