More than $263 million worth of taxable marijuana has been sold in Nevada. Despite the industry bringing in around $1 million a day, CCSD said its budget hasn't changed much, and it's because of how marijuana is taxed.
Recreational marijuana is taxed in two ways: A 15 percent wholesale tax, and a 10 percent excise tax.
The wholesale tax goes to funding marijuana operations throughout the state and locally. What's left over from that then goes into the Distributive School Account, or DSA, which is basically the state's general school fund.
The Nevada State Department of Taxation said about $25 million will be left over, so in July, it will be putting that into the DSA.
And that would have been all that was going to schools, but in 2017 during the State of the State address, Gov. Brian Sandoval (R) proposed an additional 10 percent excise tax. That excise tax would be paid for by consumers, and go straight into the DSA, but that didn't happen because of lawmakers fighting in the legislature.
Republicans said they wanted to fund the school voucher program, and democrats did not. The result was that excise tax instead was moved to the state's rainy day fund.
The Nevada Department of Taxation said so far, $26.3 million has been put into the rainy day fund instead of education. Sen. Tick Segerblom (D) has proposed calling for a special session to move the money from the rainy day fund into schools. Segerblom has been calling for $75 million which is the amount he said will be generated for the rainy day fund in a period of two years. The governor has so far declined to call a special session.
"We should keep asking. If you recall he called us up there for a special session for $750 million for the raiders stadium ... and again $1.3 billion for Tesla," Segerblom said. "The money is there and sometimes we need to take money and pay teachers and make sure kids have schoolbooks."
The governor's office, maintained that a special session is not needed because the governor already put $63.5 million into the DSA. The Nevada Dept. of Education and the Clark County School District said that's not exactly true. CCSD said the money the governor's office is talking about was already allocated as part of the budget, and that it was not an additional $63.5 million.
CCSD representatives said they're frustrated because no matter how much marijuana is sold, they are getting $5,200 a student, and their budget remains unchanged at $2.4 billion dollars.
Copyright 2018 KVVU (KVVU Broadcasting Corporation). All rights reserved.