BY KRISTEN WYATT
DENVER (AP) — Talk about higher learning. A Colorado county may create the world's first public college scholarship program funded with marijuana money.
Pueblo County is considering a 5 percent excise tax on marijuana growers, with half the proceeds designated to a scholarship fund that boosters say would be the first of its kind.
County Commissioner Sal Pace, the sponsor of the tax measure, says it could produce a couple million dollars a year. The full commission will vote on his proposal next week, and if approved, voters would have to approve the excise tax in November before it would take effect.
"What the concept is, is to create the world's first college scholarships funded by marijuana growers," Pace said.
Fifty percent of the proposed excise tax would be divided among Pueblo County high school graduates who stay in the county for college.
Pace called his proposed pot scholarship a natural next step for marijuana legalization. The statewide pot-legalization measure specifically mentioned schools as a beneficiary of pot taxes.
"These are the type of promises folks expected when they approved" marijuana, Pace said.
Pace guessed the excise tax measure could produce a couple million dollars a year. It's too soon to say how much each student would receive, though Pace guessed it might be about $500.
The fund would be limited for at least the first year to county residents that go on to college in the county, either at Pueblo Community College or Colorado State University-Pueblo. Currently that's about 400 students.
The other half of the proposed excise tax would be assigned to a long list of county capital improvements, such as spiffing up the streets around the Colorado State Fairgrounds located in town. The county list also includes repairing an elementary school playground and repairing bike trails at Pueblo Reservoir.
Pace didn't worry that the excise tax – which would boost overall taxes on marijuana wholesalers to 20 percent – would chill the county's booming pot-growing trade. Many growers in recent months have shifted production away from Denver-area warehouses, where real estate is pricier and indoor growing requires hefty electricity bills.
"It won't be a tax that drives away producers," Pace said. "Land is cheaper here, water is available, the sunshine is free and there's an available workforce."
(Photo Courtesy of TruthRevolt.org)
Cody Alt Builds CBD Company in 7 Months, Now Launching Cannabis Products
Lawmakers Want To Charge Doctors Who Prescribe Cannabis With A Felony
7 Scientists Who Smoked Weed
Moms Who Get High
Recreational Marijuana in Canada Will Be Delayed
10 Best Vape Pens of 2017 for Cannabis Concentrates
10 Best Dab Rigs Of 2017
How To Grow Organic Weed: A Step-by-Step Guide
6 Sickest Space Bucket Designs
11 Markets That Benefit From Weed Legalization
Products5 days ago
10 Best Portable Vaporizers of 2017
Guides1 week ago
6 Ways To Get Better Bong Rips
Products3 days ago
10 Best Quartz Bangers Of 2017
Entertainment3 days ago
Nine Authors Who Smoked Weed
Culture2 days ago
The Origins of Your Favorite Weed Slang
Health1 week ago
How To Treat Endometriosis With Cannabis
Dispensaries1 week ago
First Medical Marijuana Dispensary In Texas Open For Business
News1 week ago
How Much Are Canadians Paying For Marijuana?