(WXYZ) — The Michigan Department of Treasury is preparing to release $59.5 million to 224 municipalities and counties across that state.
The distribution is part of the Michigan Regulation and Taxation of Marijuana Act which provides more than $51,800 in funds for to communities for every licensed retail store and microbusiness located within its jurisdiction. The funds being dispersed are for Michigan's 2022 fiscal year and will go to 81 cities, 26 villages, 53 townships, and 64 counties.
"Municipalities and counties will begin seeing these payments appear in their banking accounts," State Treasurer Rachael Eubanks said in a news release. "Through a partnership, the dollars received from the adult-use marijuana taxes and fees are distributed to our participating communities."
The money comes from revenue collected from 574 licensees among the state's cities, villages, and townships during the 2022 fiscal year. Some municipalities have more than one licensed retail store and microbusiness.
State law governs distributions from the Marihuana Regulation Fund. Under those regulations, $198.4 million is available for distribution.
In addition to the $59.5 million going to municipalities and counties, $69.4 million was distributed to the School Aid Fund for K-12 education and another $69.4 million went to the Michigan Transportation Fund.
More than $1.8 billion in marijuana sales were reported in 2022.
You can see a breakdown of the community disbursement below:
FY 2022 Adult Use Marijuana Payments 2-23-23 by WXYZ-TV Channel 7 Detroit on Scribd
