Lawmakers to Ask Voters to Keep Pot Tax Surplus

MARIJUANA-300The final numbers are in, and Colorado owes its residents some $58 million in pot tax refunds. But state lawmakers started work yesterday on a proposal to ask voters if the state can keep the money. Colorado’s constitution requires new taxes to be refunded when overall tax collections exceed growth limits. The refund requirement is in effect for only one year, so any potential pot refunds would be one-time dollars. The proposal the House Appropriations Committee considered yesterday would ask voters this fall about keeping the money instead of refunding it. The measure has broad bipartisan support and is expected to fly through the Legislature. If the ballot measure fails, Colorado would see lower pot taxes and small income-tax refunds.

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