The Michigan Department of Treasury announced that over $87 million from the state's taxes on marijuana would be distributed to Michigan communities as a part of a tax revenue splitting agreement. The money is a part of a larger $290.3 million pot that's shared across several budgets.
Thirty percent of the money is split evenly between counties and municipalities that host marijuana businesses. The other 70% is split evenly between the state's K-12 School Aid Fund the Transportation Fund.
The local communities getting a share of the tax revenue include 99 cities, 71 counties, 30 villages, and 69 townships, according to a statement from the treasury department. Each community gets about $59,000 for each licensed marijuana retailer and microbusiness.
The total amount of revenue raised has gone up about 46% since last year, said David Harns, a spokesperson for the state Cannabis Regulatory Agency.
Detroit is getting the largest amount among the state's municipalities — more than $1.9 million. The city's first licensed marijuana retailers opened last year.
Ann Arbor is next with $1.5 million.
Lansing, Grand Rapids, and Kalamazoo are all getting more than $1 million.
"The cannabis industry is really kind of taking hold here in Michigan, it's the second largest in the country only behind California,” Harns said. ”When you look at it on a per-capita basis, it's actually the number one market in the country.”
