B.C. municipal leaders push for 40 per cent of pot tax revenue
The Canadian Press
Published Friday, September 7, 2018 9:58AM PDT
VANCOUVER - The advocacy group for local governments in British Columbia wants the province to fork over 40 per cent of its marijuana tax revenue when the drug becomes legal.
The Union of BC Municipalities has tabled a resolution asking the provincial government to provide local governments with $50-million, out of the projected provincial cannabis excise tax revenue of 125-million over the first two years of legalization.
Representatives from city councils across the province will vote on the special resolution next week during the union's annual convention.
Vancouver city councillor Kerry Jang says municipalities will face new costs when recreational marijuana becomes legal next month.
Although it's unknown exactly how much revenue will come in from pot legalization, Jang says local governments want some of the money up front in order to avoid having to find other sources of income.
The federal government has agreed to give 75 per cent of its marijuana excise tax revenue to the provinces and territories for two years.
It's up to the provinces and territories to determine how much to share with municipalities and regional governments.