This time on the Cannabis Report, marijuana reporter Leland Rucker digs into Initiative 25 — an initiative that would impose a new 3% sales tax on recreational marijuana starting Jan. 1, 2022, increasing to 5% by Jan. 1, 2024. The money would go toward the Learning Enrichment and Academic Progress program, also known as LEAP, for tutoring, after-school programs, academic summer camps, and a $1,500 stipend for low- and middle-income families to help boost access to LEAP offerings.
The Colorado Secretary of State’s Office ruled last week that supporters of Initiative 25 gathered enough signatures to secure a spot on the upcoming ballot in November. Advocates are touting Initiative 25 as a way to close learning gaps between low-income students and their more privileged peers but the marijuana industry is expressing anxiety about increased taxes on its products and wondering why the initiative is singling out the cannabis industry for funds.
About Leland Rucker:
Leland Rucker is a journalist who has been covering the cannabis industry culture since Amendment 64 legalized adult-use in Colorado, for Boulder Weekly, Sensi and now TheNewsStation.com. Leland has been keeping KGNU listeners up-to-date on cannabis news for nearly a decade.