Voters in Pueblo, Colorado have approved an additional excise tax on on Marijuana sales back in November 2015. 50% of the tax, set to slowly increase to 5% until 2020, will be set aside for scholarships. They will start implementing excise tax by 2017.
3% of Colorado’s total marijuana sales and 20% of state’s total production of marijuana are accounted for by the city of Pueblo. Marijuana cultivation industry leaders think that it is a smart initiative to implement excise tax.
Taylor West, Deputy Director of the National Cannabis Industry Association says that there is nothing more delightful for the members of the cannabis industry than to know that they are helping and giving back to the community. Pueblo County Commissioner, Sal Pace, says that nothing is more important that giving the Colorado students an opportunity for higher education. He teasingly said that it is better for the taxes to go to education funds than in the hands of Mexican drug cartels.
An admission criteria will be established and must be met by current Pueblo County students. Scholarships are only available to students who attend Colorado State University or Pueblo Community College.