(Cannabis Culture/Flickr photo)

B.C. cities ask province for 40% of pot revenue

That would equal out to $50 million in marijuana cash in the first two years after legalization

B.C. cities overwhelmingly voted in favour of collecting 40 per cent of pot revenue once the drug is legalized on Oct. 17.

“It’s really about making sure that we get some of the federal excise tax revenue to pay for what cannabis legalization will cost our communities,” said Vancouver Coun. Kerry Jang.

“The goal… is to ensure that we don’t have to raise property taxes by one cent to pay for cannabis legalization in our communities.”

READ MORE: B.C. towns to premier: Show us the marijuana money

READ MORE: Pot, taxes and Greyhound top issues as B.C. local politicians dig into policy

The proposal from the Union of B.C. Municipalities on Thursday called on the government to give 40 per cent, or $50 million, of the expected $125 million in cannabis excise tax revenue for the first two years after legalization.

Any revenue above $125 million would be shared 50-50 and each community, no matter its population, would get at least $10,000.

After the first two years, if the actual revenues matched the projected revenue then the original revenue sharing agreement would continue. If not, the B.C. cities propose raising the tax on pot from seven to 10 per cent. The extra three per cent would go to local governments.

Finance Minister Carole James said that the province is in constant communication with the UBCM on the pot revenue sharing file.

While James would not definitely comment on the UBCM’s proposal, she said the province was “open to having that discussion.”


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Great news for Indigenous youth program in BC

The federal government came through with over $1 million in funding for Indigenous youth program

CMTN unveils renovated House of Cedar

$18.4M upgrade and renovation cited as key to modern trades training

Any style, any medium, any artist

The 6x6 Smithers Art Gallery fundraiser is taking work from artists of all ages over the next month.

This mountain of ours

An exhibit at Smithers Art Gallery explores Hudson Bay Mtn with paint and prose.

RCMP confirm death of Jessica Patrick

No details on cause were given. Case is under criminal investigation and police are asking for tips.

Environment Canada confirms Ottawa area hit by two tornadoes Friday

At one point more than 200,000 hydro customers were blacked out

Trump drains oxygen from Trudeau foreign policy with PM, Freeland bound for UN

A lot has changed since the Liberals came to power in Canada in 2015

B.C. man fined $15,000, barred from trading securities for fraud

Larry Keith Davis used money from an investor to pay personal bills

Emergency crews investigate small sulphuric acid spill in Kootenays

IRM states a small volume of less than one cup and three dime-sized drips were leaked from carrier

Family, friends of B.C murder victim want killer sent back to max security facility

Group wants convicted murderer Walter Ramsay sent back to a maximum security facility

B.C. VIEWS: Looking under the hood of ICBC’s war on crashes

Is our accident rate really soaring, or is it inefficiency?

B.C. tent city residents have three weeks to clear out: Supreme Court

Fire risk, criminal activity in neighbourhood cited as reasons for judgment

Coaches, players on Alberta university rugby team buckle up for the Broncos

16 people died when Humboldt Broncos bus collided with a semi-truck in rural Saskatchewan

Most Read