Michigan Department of Treasury officials said over $42.2 million will be distributed to 163 municipalities and counties in accordance with the Michigan Regulation and Taxation of Marijuana Act.
“The Michigan Department of Treasury will distribute these dollars as soon as practical to eligible local units of government,” Michigan State Treasurer Rachael Eubanks said. “The doubling of this year’s payment amounts will have a larger impact on local government budgets.”
This week, 62 cities, 15 villages, 33 townships, and 53 counties will be receiving payments from the Marijuana Regulation Fund. Regarding the state’s 2021 fiscal year, each eligible municipality and county will receive over $56,400 for every licensed retail store and microbusiness located within its jurisdiction.
“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 Marijuana Regulatory Agency 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.”
Per the state, the distribution allotment included $49.3 million being sent to the School Aid Fund for K-12 education, while another $49.3 million was forwarded to the Michigan Transportation Fund.
In total, over $1.1 billion in adult-use marijuana sales was reported for fiscal year 2021, according to authorities.