Denver to Put Aside $1.2M in Cannabis Tax Revenue for Roads

[dropcap class=”kp-dropcap”]D[/dropcap]enver recently set aside a good chunk of its surplus cannabis tax revenue to help fix roads in the city.

According to the The Denver Channel, the city plans to spend $27 million in 2018 to repave streets. $1.2 million of that money will come from cannabis. This comes from $13-14 million per year in surplus tax revenue that is set aside for projects like road repair. Most of the money either goes to law enforcement, cannabis regulation or education funding, and the surplus goes to the general fund, which is now going towards road repair.

“We cannot bank on those revenues being there year after year, with more and more states coming online,” said Mayor Michael Hancock. The idea is that with more states starting to sell cannabis, it’s not a great idea to start a long-term project that needs funding year after year. But for something like paving the roads, the surplus fund is perfect.”

Others applauded the plan as well. “The marijuana revenue is on top of the $4.5 million that we’re receiving from Measure 2-A that voters passed a few years ago,” explained Denver Public Works Communications Director Nancy Kuhn. “Our funding levels are really optimum right now. With the extra money that we’re receiving in marijuana tax revenue this year, we’re going to be able to pave at least 50 more blocks this year.”

Colorado is notorious for setting aside surplus cannabis tax revenue for good causes. In addition to the paving of the roads, many counties and cities in Colorado use their tax revenue for education and drug awareness programs, and some areas have even created cannabis scholarships. The rest of the funding is there to keep the program properly regulated. The extra revenue in Colorado and how it is being used sets a great example for how the rest of the country should manage their funds.