Fresh off the news that taxing and regulating pot will almost certainly not happen in California this year, Colorado reports that it will receive about $100 million in expected weed taxes this year. The money will be spent on public schools, and public health like youth drug-use prevention.
The AP reports Wednesday that the Colorado Governor plans to spend $99 million in retail weed taxes in the next fiscal year on substance abuse prevention, youth marijuana use prevention and other public health programs. About $40 million per year is also earmarked for public school construction. Colorado will sell about $610 million worth of weed this year, according to updated projections.