GRAND JUNCTION, Colo. (KKCO) Proposition AA is on the ballot this year after the passage of Amendment 64 last year.
If passed Proposition AA will establish an excise tax of 15% on top of the 10% sales tax on the retail sale of marijuana.
The excise tax is what is charged on the wholesale price of the product.
The first $40 million of that tax will be given to the state school capital construction program.
Then 15% of the 10% sales tax will be given to local governments with areas where the retail sale of marijuana is allowed.
The other 85% will go to the state for regulatory and enforcement efforts.