(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.

UBCM

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

BC SPCA seeks help for German shepherd puppies abandoned near Port Alberni

Donations have ‘petered out’ as doors are closed due to COVID-19

Funtastic music festival and slo-pitch cancelled for 2020

Annual Canada Day event cancelled due to COVID-19

Port Alberni family thanks long-term care workers with face shield donation

Matriarch received ‘excellent care’ at seniors’ facility before her death in 2018

PAC RIM ACTIVE: Time for a nature club in Port Alberni

Nature clubs provide education, spearhead conservation projects in their communities

Timeline pushed back for Tofino-Ucluelet highway construction project

Ucluelet mayor Mayco Noel said the ministry’s announcement came as “no surprise.”

COVID-19 death toll reaches 50 in B.C., while daily case count steadies

B.C. records 34 new cases in the province, bringing total active confirmed cases to 462

An ongoing updated list of Alberni Valley events affected by COVID-19

Has your event been cancelled or postponed? Check here

B.C. unveils $5M for mental health supports during the COVID-19 pandemic

Will include virtual clinics and resources for British Columbians, including front-line workers

VIDEO: Community rallies around Campbell River fire victims

Emergency Social Services volunteers logged over 100 hours in first day after fire

B.C.’s COVID-19 rent supplement starts taking applications

$300 to $500 to landlords for April, May and June if eligible

Reality TV show about bodybuilders still filming in Okanagan, amid COVID-19

Five bodybuilders from across the country flew to Kelowna to move into a house for a reality TV show

B.C.’s top doctor details prescription for safe long weekend

Yes, it includes hosting an online cooking show

Most Read