Bill
Bill > LD88
ME LD88
ME LD88An Act to Provide Qualifying Municipalities a Percentage of Adult Use Cannabis Sales and Excise Tax Revenues
summary
Introduced
01/10/2023
01/10/2023
In Committee
01/10/2023
01/10/2023
Crossed Over
Passed
Dead
07/26/2023
07/26/2023
Introduced Session
131st Legislature
Bill Summary
This bill establishes the Local Government Cannabis Revenue Fund and requires the transfer to the fund of revenue from the sales tax on adult use cannabis and adult use cannabis products and the cannabis excise tax. The fund must be distributed to a municipality where cannabis establishments are operating in proportion to the ratio of revenues generated by the sales and excise taxes on adult use cannabis and adult use cannabis products within the municipality to the revenues generated by all cannabis establishments operating in the State.
AI Summary
This bill establishes the Local Government Cannabis Revenue Fund, which will receive 12% of the sales tax revenue and 12% of the cannabis excise tax revenue collected by the state. The fund will be distributed to municipalities in proportion to the ratio of revenues generated by cannabis sales and excise taxes within each municipality compared to the total revenues generated across the state. This is intended to help offset the local regulatory and enforcement costs associated with adult-use cannabis in municipalities that have authorized cannabis establishments.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Died On Adjournment, Jul 26, 2023 (on 07/26/2023)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.maine.gov/legis/bills/display_ps.asp?LD=88&snum=131 |
| BillText | https://legislature.maine.gov/legis/bills/getPDF.asp?paper=HP0056&item=1&snum=131 |
Loading...