The Michigan Department of Treasury announced recently that more than $59.5 million is being distributed among 224 municipalities and counties as a part of the Michigan Regulation and Taxation of Marijuana Act. The City of Hartford and Watervliet Charter Township each receive $103,682.42. There are two adult-use marijuana businesses in each municipality.
The press release stated 81 cities, 26 villages, 53 townships and 64 counties will receive payments from the Marihuana Regulation Fund. For the state of Michigan’s 2022 fiscal year, this means each eligible municipality and county will receive more than $51,800 for every licensed retail store and microbusiness located within its jurisdiction.
Revenue was collected from 574 licensees among the state’s cities, villages and townships during the 2022 fiscal year. For the 2022 state fiscal year, there was $198.4 million available for distribution from the Marihuana Regulation Fund. State law outlines how much is distributed from the Marihuana Regulation Fund.
Aside from the more than $59.5 million in disbursements to municipalities and counties, $69.4 million was sent to the School Aid Fund for K-12 education and another $69.4 million to the Michigan Transportation Fund.
In total, more than $1.8 billion in adult-use marijuana sales was reported for Fiscal Year 2022.
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