Sandoval’s Budget: More Cannabis Dollars To Fund Education
Outgoing Nevada Governor Brian Sandoval wants to move a percentage of marijuana tax dollars to fund education-related programs. To learn more, KUNR News Director Michelle Billman spoke with Bob Conrad of ThisisReno about Sandoval's budget recommendations for the state.
Outgoing Nevada Governor Brian Sandoval wants to move a percentage of marijuana tax dollars to fund education-related programs. School safety and the Governor Guinn Millennium Scholarship were noted to receive additional money. Most cannabis revenue goes into the state’s rainy day fund.
“Compared to no balance in 2011, (the rainy day fund) has approximately $233 million,” Sandoval said.
The rainy day fund receives about $4.2 million each month from 10 percent of retail taxes. Sandoval is recommending that amount, about $50 million each year, go from the rainy day fund into school safety efforts and a projected shortfall in the Guinn Scholarship account.
Remaining cannabis tax dollars go into the state’s distributive school account, a fund for local governments and to state government administration
Cannabis consumption in Nevada has consistently produced better-than-expected revenues, and the state’s general fund is expected to be about $8.8 billion over the next biennium, up from $8.2 billion from the current biennium.
You can find more of Sandoval's budget recommendations at ThisisReno.