Bay County Second Highest for State Treasury’s Adult-Use Marijuana Payments
For the second year in a row since Michigan legalized adult-use marijuana sales, only the Washtenaw County and Ann Arbor areas surpass Bay County in revenues it will collect from the state this year. The Michigan Department of Treasury has released the list of counties and cities that allow the sales, and the amount they’ll receive. A total of $42.2 million is being distributed to 163 local units of government.
Bay County, with 24 licensed marijuana businesses, will receive $1,354,882.56. Bay City, with 10 businesses, is in line for $564,534.40. Saginaw County, with 3 licenses, is getting a payment of $169,360.32. The City of Saginaw, which had one eligible marijuana business for the time period covered, is getting a payment of $56,453.44.
The payments come as part of the Michigan Regulation and Taxation of Marijuana Act. Aside from the disbursements to municipalities and counties, $49.3 million was sent to the School Aid Fund for K-12 education and another $49.3 million to the Michigan Transportation Fund.
“The Michigan Department of Treasury will distribute these dollars as soon as practical to eligible local units of government,” State Treasurer Rachael Eubanks said. “The doubling of this year’s payment amounts will have a larger impact on local government budgets.”
For the 2021 fiscal year, more than $111 million was collected from the 10% adult-use marijuana excise tax. In total, there was $172 million available for distribution from the fund.
“It’s rewarding to see that the agency’s balanced regulatory approach is effectively protecting consumers while still allowing Michigan businesses to grow and thrive,” said MRA Executive Director Andrew Brisbo. “The funding provided directly to local governments – and the thousands of jobs created across the state – show that Michigan is leading the way in the cannabis industry.”
For more information about adult-use marijuana tax distributions – including a breakdown of how much municipalities and counties received – go to Michigan.gov/RevenueSharing