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Marijuana Legalization Increases Home Property Value, New Research Discovers

New state data show that Illinois has sold more marijuana products in June than any other month since recreational retailers first opened their stores in early 2020. And their total sales were about $ 115.5 million.

That number is slightly lower than the overall sales record set in May, but it’s the latest example of the popularity of the Illinois adult cannabis program, which continued to thrive throughout the pandemic. It also led to a significant reduction in state tax revenues, with Revenue Department reporting $ 38,718,674 in June recreational marijuana tax dollars.

There were 2,513,676 individual cannabis items purchased in the state last month and were worth $ 115,574,741. Approximately $ 79 million in their sales came from residents in the state, and out-of-state visitors accounted for $ 36 million in their purchases.

Via ILDFPR.

This is the fourth consecutive month that recreational marijuana sales have exceeded $ 100 million. according to To the Treasury and Professional Regulatory Department.Last month I saw a slightly higher amount Buy cannabis worth $ 116,380,348Although few individual items are sold.

If this trend continues, Illinois can be seen Adult marijuana sales exceed $ 1 billion And that would mean a fair amount of tax. Last year, Illinois sold about $ 670 million in cannabis, Revenue of $ 205.4 million..

Incorporated by Illinois More taxes from marijuana than alcohol For the first time in the previous quarter, the State Department reported in May. From January to March, Illinois generated about $ 86,537,000 in adult marijuana tax revenue, compared to $ 72,281,000 in liquor sales.

At the monthly level, June taxes from marijuana also exceeded the $ 25,681,263 collected by the state on liquor tax revenues by more than $ 10 million.

Wisconsin Governor Tony Evers (D) was “sick” of hearing about these sales, he said in April, and Illinois Governor JB Pritzker (D) has always been. “Thanks to Wisconsinites for crossing the border to buy marijuana.” There is no legal market in the neighboring country.

Illinois officials have emphasized that taxes from all these sales are being used effectively.For example, the state announced that it was distributing in January. $ 31.5 million grant funded by marijuana tax dollars To a community that has been disproportionately affected by the drug war.

Funding is part of the State Restoration, Reinvestment, and Renewal (R3) program, Established under the Illinois Adult Cannabis Legalization Act.. Twenty-five percent of marijuana tax should be put into the fund and used to provide services such as legal assistance, youth development, community re-entry, and financial assistance to underprivileged people.

Granting new grants is not all that Illinois is doing to promote social equality and repair the harm of cannabis criminalization.Pritzker announced in December that his office had Handled over 500,000 erasures and amnesty For those who have low levels of cannabis conviction in their records.

In association with, A state-funded initiative was recently established To help convicted residents of marijuana clear records with legal assistance and other services.

However, promoting social equality in the state’s cannabis industry has proven difficult. Illinois faces criticism from supporters and proceedings from marijuana business applicants who feel that authorities are not doing enough to ensure diversity among business owners in the industry.

Lawmakers recently sent a bill to Pritzker’s desk aimed at drafting it under state legalization legislation. Create more cannabis business licensing opportunities It aims to help people in disproportionately affected communities enter the marijuana industry.

Meanwhile, the House Committee recently approved the following resolution: Widely condemn the drug war, Calling it “the longest and most costly war in the United States, and ultimately a complete and shameful failure.”

Marijuana legalization is “unavoidable” on Rhode Island and could happen this fall, top lawmakers say

Photo courtesy of: WeedPornDaily..

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Marijuana Legalization Increases Home Property Value, New Research Discovers

Source link Marijuana Legalization Increases Home Property Value, New Research Discovers

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