close
close

Yiamastaverna

Trusted News & Timely Insights

If passed, would the tax revenue from the recreational marijuana tax benefit Florida schools?
Idaho

If passed, would the tax revenue from the recreational marijuana tax benefit Florida schools?

JACKSONVILLE, Florida. – Would you support legalizing recreational marijuana use in Florida if the money from the drug’s sales went to benefit schools and neighborhoods in Florida?

A new ad claims that legalizing marijuana for recreational use will generate billions for schools and safer communities.

RELATED | Governor DeSantis has taken a strong stance against marijuana legalization. We reviewed some of his recent statements | UNF poll: Florida law changes to legalize marijuana and enshrine abortion rights continue to find strong support | The DEA is pushing to classify marijuana as a less dangerous drug. But what does that mean for Florida?

VOTE MEASURE | Personal marijuana use by adults

News4JAX spoke to representatives from both sides of this debate, as well as our political analyst, and looked at how other states distribute the money they make from marijuana.

In a new commercial funded by Smart and Safe Florida, advocates of recreational marijuana promise benefits for the entire state, saying the money raised will help improve Florida’s schools and neighborhoods.

“Vote yes on Amendment 3, which gives adults access and choice in their own homes while providing billions for safer schools and communities,” the ad says.

According to a report from the Florida Financial Impact Estimating Conference released in July 2023, recreational marijuana use in Florida will generate between $195 million and $431 million in sales tax revenue per year. Most of this sales tax revenue would go to the state, just like any other sales tax. However, there are currently no plans to direct the money to a specific use.

News4JAX asked voters if the promise to dedicate marijuana exchange revenue to local schools would influence their vote.

“There are no benefits. America needs to wake up. It’s time they put a stop to this,” said one prospective voter.

Joseph Lowe, who suffered a stroke earlier this year, is an advocate for medical marijuana. Florida voters legalized it in 2016, and he said it has helped him cope tremendously.

“It helps me with my anxiety. I had a stroke in March and it helps me relax. It also helps me eat,” Lowe said.

MORE | Huge indoor marijuana farm in Palatka can expand if voters approve legalization in November

According to Rick Mullaney, political analyst at News4JAX, it is too early to know exactly where the sales tax revenue will go if Amendment 3 is passed. The decision will ultimately rest with the state legislatures.

“The argument that it generates additional revenue is correct. Where that revenue goes is under very close scrutiny,” Mullaney said. “One of their arguments is that it increases revenue for education. But that may not be entirely true. If you’re generating revenue from increased marijuana sales, that’s sales tax revenue that’s controlled by the state legislature. It’s not clear how they would distribute it.”

Some states that have legalized marijuana for recreational use have imposed separate excise taxes in addition to regular sales taxes and designated specific uses for the additional tax revenue.

In Arizona:

• 34% of proceeds go to community college districts

• 34% goes to public safety, including police and fire service

• 25% goes to the Highway User Revenue Fund

In Oregon:

• 40% of cannabis taxes go into a state school fund

• 20% goes to psychiatric treatment or to the prevention of alcohol and drug abuse, early interventions and treatment

• 15% goes to the state police

• 10% goes to cities

• 10% goes to the districts

• 5% goes back to the Oregon Health Authority for a separate program

If Florida legalizes marijuana for recreational use, lawmakers will have to impose additional taxes to direct marijuana tax revenues to specific uses.

For the amendment to be passed, 60% of voters will need to approve it in November.

A total of 24 states and the District of Columbia have legalized the recreational use of marijuana.

Copyright 2024 by WJXT News4JAX – All rights reserved.

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *