LANSING, MI (WTVB) – The Michigan Department of Treasury has announced that more than $59.5 million is being distributed among 224 municipalities and counties as a part of the Michigan Regulation and Taxation of Marijuana Act.
Branch County will get over $518,000 from the state with the City of Coldwater receiving over $414,000 for its eight licenses as of September 30, 2022 and the Village of Quincy will get over $103,000 for its two licenses.
Payments from the Marijuana Regulation Fund will be distributed over the next few days to 81 cities, 26 villages, 53 townships and 64 counties.
For the state of Michigan’s 2022 fiscal year, this means each eligible municipality and county will receive more than $51,800 for every licensed retail store and microbusiness located within its jurisdiction.
Revenue was collected from 574 licensees among the state’s cities, villages and townships during the 2022 fiscal year. Some of these municipalities host more than one licensed retail store and microbusiness.
For the 2022 state fiscal year, there was $198.4 million available for distribution from the Marijuana Regulation Fund. State law outlines how much is distributed from the Marijuana Regulation Fund.
Aside from the more than $59.5 million in disbursements to municipalities and counties, $69.4 million was sent to the School Aid Fund for K-12 education and another $69.4 million to the Michigan Transportation Fund.
In total, the state says over $1.8 billion in adult-use marijuana sales was reported for Fiscal Year 2022.
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