LAS VEGAS (FOX5) -- With the passing of Senate Bill 545 more funds from the marijuana tax are being distributed to education.
“For a while it was only the excise taxes at wholesale were going to education funding,” Nevada Dispensary Association executive director, Riana Durrett said.
In 2018, only $27.3 million dollars went to education. The other $42.5 million went into the rainy day fund, the state’s emergency fund.
After SB 545 passed and started July 1, 2019 more money went back into schools.
“That will start to move all those taxes from the rainy day fund which is where they’ve been stuck, into the school’s account,” Nevada Organic Remedies of Nevada Regional General Manager Brandon Wiegand said.
Sixty million dollars now goes towards education.
Clark County School District says cannabis money goes straight into their general fund:
- 87% funds employee salary and benefits
- 13% funds other costs like utilities, transportation, textbooks, etc.
Wiegand says he hopes no one looks to the marijuana industry and the only means to fund education.
“I hope no one looks at the marijuana industry and sees us as a silver bullet that’s going to solve all problems and challenges we have funding school and education,” Wiegand says.
For more on CCSD’S general budget breakdown click here.