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Colorado Using Profits From Marijuana Sales To Fund Schools

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Mar 18, 2015

Cannabis which is the medical term for marijuana is legal in the state of Colorado and they have made some nice profits from it.

Last year, Colorado earned $90 million dollars in revenues from the sale of marijuana, since it became legal in their state. The state is using some of those revenues and funding schools with it. They've implemented their funds through a grant program called BEST which means, Building Excellent Schools Today. With the grant, some of the tax revenues from marijuana profits have been used, about $16 million to help fund the schools in Colorado. Scott Newell is the director for the Education Department in Colorado and has been involved in the project. Newell is repsponsible for all funds that come in and has applied some to build more schools in Colorado. This will be the first year Scott Newell will allow grants from marijuana tax revenues, to be used towards funding for schools from: constructions, supplies, wage increase and benefits for teachers, scholarships for students to use for college and etc.

The BEST grant was established back in 2008 to find other alternatives of generating funds to finance schools. The grants did not just provide for public school districts in Colorado but it also helped special needs schools like: the Deaf and the Blind, charter schools, the board of education in Colorado and more. The funds that have been generated from BEST were used to build and renovate schools, to finance them in the operations of the schools, to try and keep Colorado's education the number one factor of importance.

2015 has started as a great year for BEST who incurred $108 millions dollars in total fundings from state, private sectors, investors, including $16 million in tax revenues from marijuana sale profits. BEST will be awarding the funds later this summer to school districts in Colorado and towards other school projects.

There's been an on-going debate about this, some liberals are against marijuana tax revenues being used to fund schools and others are for it. Those tax revenues could of been used to build jails and prison or finance them, but instead they are being used towards education. The sales of marijuana has grown the economy where it is legal at, if we can recall 2 Chainz did say legalizing marijuana would help the economy in his open forum discussion with Nancy Grace.

When they made marijuana legal, they banked nicely from it. In these states marijuana is legal at, it was illegal to sell dime bags and etc., in some cases people ended up in jail for selling marijuana. Did the people selling dime bags make $90 million dollars a year? No, but the government did, so you do the math. But most of all, if anybody is still selling dime bags, they need to get in on some of this marijuana pie from the government and open their own marijuana facility. Don't let Uncle Sam screw you, learn the system and play chess with it.

Who is Colorado's supplier? Because they are moving a lot of bricks. Things that make you go hmmm.