That's enough to buy the Denver Broncos three times over.
Colorado officially hit a major marijuana milestone in August, when it crossed the $15 billion mark in dispensary sales, according to the state Department of Revenue.
The $15 billion milestone reflects the longevity of the market rather than its current condition, however.
Public education in Colorado receives marijuana tax revenue through the state’s Building Excellent Schools Today fund — a matching grant program — and the Marijuana Tax Cash Fund. Local governments can distribute their own marijuana tax revenue to schools, as well. The BEST fund annually receives either $40 million or 90 percent of the state’s 15 percent wholesale and excise tax revenue on recreational pot sales, whichever is greater.
The state’s Marijuana Tax Cash Fund, built on the 15 percent sales tax, was created by the Colorado Legislature in 2014 to support health care, substance abuse services, law enforcement and marijuana-impact research, as well as public school programs.
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