(1) The proceeds of all
money collected from the retail marijuana sales tax are initially credited to the old
age pension fund created in section 1 of article XXIV of the state constitution in
accordance with sections 2 (a) and 2 (f) of article XXIV of the state constitution and
thereafter are transferred to the general fund in accordance with section 7 of
article XXIV of the state constitution. For each fiscal year in which a tax is collected
pursuant to this part 2, an amount shall be appropriated or distributed from the
general fund as follows:
(a) (I) Before July 1, 2017, an amount equal to fifteen percent of the gross
retail marijuana sales tax revenue collected by the department is apportioned to
local governments. On and after July 1, 2017, but before July 1, 2025, an amount
equal to ten percent of the gross retail marijuana sales tax revenue collected by the
department is apportioned to local governments. On and after July 1, 2025, an
amount equal to three and one-half percent of the gross retail marijuana sales tax
revenue collected by the department is apportioned to local governments. The city
or town share is apportioned according to the percentage that retail marijuana
sales tax revenue collected by the department within the boundaries of the city or
town bear to the total retail marijuana sales tax revenue collected by the
department. The county share is apportioned according to the percentage that
retail marijuana sales tax revenue collected by the department in the
unincorporated area of the county bear to total retail marijuana sales tax revenue
collected by the department.
(I.5) Repealed.
(II) The department of revenue shall certify to the state treasurer, at least
annually, the percentage for apportionment to each local government, and the
percentage for apportionment so certified shall be applied by said department in all
distributions to local governments until changed by certification to the state
treasurer.
(III) Distribution to each local government pursuant to this paragraph (a)
shall be made monthly, no later than the fifteenth day of the second successive
month after the month for which retail marijuana sales tax collections are made.
(IV) Each local government, upon request and during established business
hours, shall be entitled to verify with the executive director of the department or
the executive director's designee the proceeds to which the local government is
entitled pursuant to the provisions of this paragraph (a).
(V) Moneys apportioned pursuant to this paragraph (a) shall be included for
informational purposes in the general appropriation bill or in supplemental
appropriation bills for the purpose of complying with the limitation on state fiscal
year spending imposed by section 20 of article X of the state constitution and
section 24-77-103, C.R.S.
(VI) Nothing in this subsection (1)(a) prevents a local government from
imposing, levying, and collecting any fee or any tax upon the sale of retail marijuana
or retail marijuana products or upon the occupation or privilege of selling retail
marijuana products, nor shall the provisions of this subsection (1)(a) be interpreted
to affect any existing authority of a local government to impose a tax on retail
marijuana or retail marijuana products to be used for local and municipal purposes;
however, any local tax imposed at other than the local jurisdiction's general sales
tax rate shall not be collected, administered, and enforced by the department of
revenue pursuant to part 2 of article 2 of title 29, but shall instead be collected,
administered, and enforced by the local government itself.
(b) (I) Until July 1, 2017, the state treasurer shall transfer from the general
fund to the marijuana tax cash fund an amount equal to eighty-five percent of the
gross retail marijuana sales tax revenue collected by the department.
(I.3) On and after July 1, 2017, but before July 1, 2018, of the ninety percent of
the gross retail marijuana sales tax revenue in the general fund remaining after the
allocation to local governments required by subsection (1)(a)(I) of this section is
made, the state treasurer shall retain twenty-eight and fifteen one-hundredths
percent less thirty million dollars in the general fund for use for any lawful purpose
and shall transfer from the general fund:
(A) Seventy-one and eighty-five one-hundredths percent to the marijuana
tax cash fund; and
(B) Thirty million dollars to the state public school fund created in section
22-54-114 (1) for use as specified in section 22-54-139 (2).
(I.5) On and after July 1, 2018, but before July 1, 2025, of the ninety percent of
the gross retail marijuana sales tax revenue in the general fund remaining after the
allocation to local governments required by subsection (1)(a)(I) of this section is
made, the state treasurer shall retain fifteen and fifty-six one-hundredths percent
in the general fund for use for any lawful purpose and shall transfer from the
general fund:
(A) Seventy-one and eighty-five one-hundredths percent to the marijuana
tax cash fund; and
(B) Twelve and fifty-nine one-hundredths percent to the state public school
fund created in section 22-54-114 (1) for use as specified in section 22-54-139 (3).
(I.6) On and after July 1, 2025, of the ninety-six and one-half percent of the
gross retail marijuana sales tax revenue in the general fund remaining after the
allocation to local governments required by subsection (1)(a)(I) of this section is
made, the state treasurer shall retain fourteen and fifty-one one-hundredths
percent in the general fund for use for any lawful purpose and shall transfer from
the general fund:
(A) Seventy-two and two-tenths percent to the marijuana tax cash fund;
(B) Eleven and seventy-four one-hundredths percent to the state public
school fund created in section 22-54-114 (1) for use as specified in section 22-54-139 (3); and
(C) One and fifty-five one-hundredths percent to the marijuana cash fund
created in section 44-10-801 (1)(a).
(II) Repealed.
(III) The general assembly shall make appropriations from the marijuana tax
cash fund for the expenses of the administration of this section.
(2) Repealed.
(2.5) On or after November 1, 2027, but prior to April 1, 2028, the joint budget
committee shall review the percentage of the gross retail marijuana sales tax
revenue that is allocated to local governments pursuant to subsection (1)(a)(I) of
this section to determine whether the percentage continues to be appropriate. The
committee shall recommend to the general assembly any modifications to the
allocation that the committee deems necessary.
(3) As used in this section:
(a) Ballot issue means the ballot issue referred to the voters in accordance
with section 39-28.8-603 (1).
(b) Marijuana tax cash fund is the cash fund created in section 39-28.8-501
(1).