LANSING, MI (WTVB) – The Michigan Department of Treasury announced on Thursday that more than $42.2 million will be distributed among 163 municipalities and counties as a part of the Michigan Regulation and Taxation of Marijuana Act.
The department says Branch County will get over $451,000 while the City of Coldwater thanks to its six licenses will get over $338,000 and the Village of Quincy with its two licenses will receive almost $113,000.
Meanwhile, Hillsdale County will get over $282,000, St. Joseph County will receive over $169,000 and thanks to its 21 licenses, Calhoun County will get over $1.1 million. The City of Battle Creek is in line to get over $508,000.
Money will be distributed to other nearby communities. Tekonsha and Sturgus will both get over $56,000, Camden and Constantine will each get over $112,000, Reading will get over $169,000 while Hillsdale will receive over $282,000.
The payments from the Marijuana Regulation Fund will be distributed next week to 62 cities, 15 villages, 33 townships and 53 counties.
For the state of Michigan’s 2021 fiscal year, this means each eligible municipality and county will receive more than $56,400 for every licensed retail store and microbusiness located within its jurisdiction.
Revenue was collected from 374 licensees among the state’s cities, villages and townships during the 2021 fiscal year. Some of these municipalities host more than one licensed retail store and microbusiness.
For the 2021 fiscal year, more than $111 million was collected from the 10 percent adult-use marijuana excise tax. In total, there was $172 million available for distribution from the fund.
State law outlines how much is distributed from the Marijuana Regulation Fund.
Aside from the more than $42.2 million in disbursements to municipalities and counties, $49.3 million was sent to the School Aid Fund for K-12 education and another $49.3 million to the Michigan Transportation Fund. In total, more than $1.1 billion in adult-use marijuana sales was reported for fiscal year 2021.
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