$87 million in marijuana tax revenue distributed through Michigan
HAZEL PARK, Mich. (CBS DETROIT) - More than $87 million in marijuana tax revenue will be distributed to 269 municipalities throughout Michigan.
Ninety-nine cities, 30 villages, 69 townships, and 71 counties will receive payments from the Marihuana Regulation Fund. Each eligible municipality and county will receive more than $59,000 for every licensed retail store and micro business located within its jurisdiction.
In Hazel Park, the city has 10 licenses and is receiving more than $590,000.
"It's been very beneficial to the city of Hazel Park and its taxpayers to receive these additional monies from adult-use marijuana," said Edward Klobucher, the Hazel Park City manager
He said they will use the funds to help cover the $1 million increase to the cost of their employee pension program.
"And those revenues we get from marijuana help us to meet that obligation."
Klobucher said with the marijuana money, they won't have to raise taxes or cut services to cover the cost.
"It does benefit the city because that means, because of these additional revenues, these are services that we don't have to cut or fees that we don't have to increase or taxes that we don't have to increase to get that bill paid."
Each municipality can use their funds however they see fit. The money for Michigan's Marihuana Regulation Fund was collected from 737 cannabis licenses in the 2023 fiscal year.
Along with the $87 million in disbursements, the marihuana regulation fund also sent more than $101 million to the school aid fund for K-12 education and another $101 million to the Michigan Transportation Fund.
