HB18-1101

HB18-1101 - Retail Marijuana Sales Tax Appropriations For Schools

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Concerning modification of the manner in which gross retail marijuana tax revenue that is transferred from the general fund to the state public school fund as required by current law is appropriated from the state public school fund.

Joint Budget Committee. Beginning in state fiscal year 2018-19, current law:

  • Requires 12.59% of the gross retail marijuana sales tax revenue remaining in the general fund after a required allocation of 10% of the revenue to local governments to be transferred to the state public school fund; and
  • Continuously appropriates that revenue for the same state fiscal year in which it is transferred from the state public school fund to the department of education to help meet the state share of total program funding for school districts and institute charter schools.

The bill eliminates the continuous appropriation of the revenue in the state fiscal year in which it is transferred to the state public school fund and instead specifies that beginning in state fiscal year 2019-20, the general assembly may appropriate all or any portion of the revenue transferred to the state public school fund during the prior state fiscal year to the department of education to help meet the state share of total program funding for school districts and institute charter schools.

(Note: This summary applies to this bill as introduced.)

House Committees

Senate Committees

Latest update: January 31, 2018
01/31/2018 - House Committee on Finance Refer Unamended to House Committee of the Whole
01/18/2018 - Introduced In House - Assigned to Finance