Legal pot sales lighting up
January was a banner month for legal pot in Colorado, according to numbers released last week by the Colorado Department of Revenue.
The state’s booming marijuana industry – both retail and medical – reported record sales for the month, resulting in $7.7 million in tax revenues as well as another $1.1 million in licenses and fees. The sales tax numbers included about $2.3 million for public school capital construction projects – or about 10 times what was generated in January 2014.
Since pot became legal Jan. 1, 2014, $15.6 million has been generated for the Building Excellent Schools Today (BEST) program. The funds for schools are generated via a voter-approved 15 percent excise tax on marijuana sales. This is in addition to the regular state sales tax of 2.9 percent on medical and retail sales, and another 10 percent excise tax on just retail sales.
Overall, retail sales edged medical sales, making up 57 percent of the share of revenues.
The Mile High City, which accounts for 193 of the state’s 493 medical licenses and 109 of the state’s 205 retail licenses, accounted for almost half of the marijuana sales tax revenue. Boulder County came in second, producing 11 percent of Colorado’s retail sales tax revenue. (El Paso County, home to Colorado Springs, which doesn’t allow retails sales, was second in medical sales tax revenue.)
At No. 6 was La Plata County, with $103,792 in combined sales tax for January. Of that, $11,690 will go to local governments. Nearby San Miguel County brought in $45,098 in combined marijuana taxes for January.
Marijuana tax reports are based on revenue collected monthly as posted in the state accounting system. Taxes for the filing period are collected the following month. For example, taxes incurred in January are collected in February.
Last year, Colorado pot businesses sold nearly $700 million of marijuana – $385.9 million for medical marijuana and $313.2 million for recreational.
Additional funding for BEST also comes from state lottery proceeds and the state land trust. Established in 2008, BEST grants are available to public school districts, charter schools and boards of cooperative educational services to be used for school construction and renovation.
The BEST program disperses funds annually, and the Colorado Department of Education projects that in the 2014-15 fiscal year, the program will take in about $108 million in revenue from all sources, including about $16 million from marijuana. The Department of Education expects to award BEST funding in July or August.
LPEA election packets available
Local election season rages on, with La Plata Electric Association announcing three seats on its Board of Directors will be up for grabs this spring.
The 12-member board is made up of three members from four districts who are elected on a rotating basis. Directors serve three-year terms, and one seat in each of the four districts is up for grabs every spring. This year’s seats up for re-election are: Bob Formwalt (District 1 – Archuleta County); Jerry McCaw (District 2 – south and west La Plata County); Britt Bassett (District 3 – City of Durango); and Heather Erb (District 4 – north and east La Plata County).
Candidates must be residents of the district they seek to represent and cannot work for a competing company.
Interested candidates can pick up election packets at LPEA offices at 45 Stewart St., Bodo Park, or download one online at www.lpea.coop. Election packets contain additional information, including copies of LPEA’s bylaws and policies. Candidates must return completed petitions to LPEA offices by 1 p.m. Wed., April 1, with at least 15 signatures from co-op members in the candidate’s district.
LPEA members should receive ballots by April 24. Election results will be announced at LPEA’s Annual Meeting on Sat., May 16, at Pagosa Springs High School.
Renewable energy grants offered
It’s now easier for Southwest Colorado farmers and businesses to be green, thanks to a federal renewable energy grant program.
Last week, the Colorado USDA Rural Development office announced the availability of funds through the Rural Energy for America Program. The program offers funds to rural agricultural producers and small businesses for purchase and installation of renewable energy systems.
This year, there is $152,000 available for grants under $20,000, and $1 million for grants of more than $20,000. The program is made possible through the 2014 Farm Bill.
One local past recipient of the grant is James Ranch, which used $18,253 to install a solar roof at its beef processing facility. The improvements provide an estimated 37 percent of the energy used. In addition, REAP has helped local farmers buy pumps to reduce irrigation costs and helped a local restaurant offset 85 percent of its energy costs.
Eligible projects include wind, solar, small hydropower, geothermal, hydrogen and biomass. For more information, e-mail Don Nunn, donald.nunn@co.usda.gov or go to www.rd.usda.gov/com.
– Missy Votel