Finance Committee Agenda and Packet 2019 04 22

Home Browse Search

Proposed Marijuana Cultivation Excise Tax Ballot Language Similarities among each of the ballot issue alternatives set forth below: • Tax imposed only if cultivation facilities are permitted within the City • Tax set at a certain percentage rate (first set of blanks), and City Council authorized to increase percentage rate up to a maximum limit (second set of blanks) without further voter approval (i.e., establishes a range) Alternative #1: • Not limiting how revenues from tax may be spent • Long form de-Brucing Language SHALL CITY OF LOUISVILLE TAXES BE INCREASED BY $ IN 20 (THE FIRST FULL FISCAL YEAR OF SUCH TAX INCREASE) AND BY WHATEVER ADDITIONAL AMOUNTS ARE RAISED ANNUALLY THEREAFTER, BY IMPOSING, EFFECTIVE JANUARY 1, 20 , A NEW TAX ON THE FIRST SALE OR TRANSFER OF UNPROCESSED MARIJUANA BY A MARIJUANA CULTIVATION FACILITY AT THE RATE OF PERCENT (%) OF THE PRICE PAID BY THE PURCHASER OR TRANSFEREE OF THE MARIJUANA, WITH THE RATE OF THE TAX BEING ALLOWED TO BE INCREASED OR DECREASED WITHOUT FURTHER VOTER APPROVAL SO LONG AS THE RATE OF TAXATION DOES NOT EXCEED PERCENT ( %), IN ACCORDANCE WITH ANY ORDINANCES HEREAFTER APPROVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE; PROVIDED THAT ANY SUCH TAX SHALL BE IMPOSED ONLY IF MARIJUANA CULTIVATION FACILITIES ARE PERMITTED WITHIN THE CITY; AND SHALL THE CITY BE AUTHORIZED TO COLLECT AND SPEND SUCH REVENUE NOTWITHSTANDING ANY LIMITATIONS CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER SPENDING, REVENUE -RAISING, OR OTHER LIMITATIONS PROVIDED BY LAW? Alternative #2: • Specifies goals for how revenue is to be spent, but broad catch-all provision permitting revenues to be spent for "general purposes of the City" • Short form de-Brucing language SHALL CITY OF LOUISVILLE TAXES BE INCREASED BY $ IN 20 (THE FIRST FULL FISCAL YEAR OF SUCH TAX INCREASE) AND BY WHATEVER ADDITIONAL AMOUNTS ARE RAISED ANNUALLY THEREAFTER, BY IMPOSING, EFFECTIVE JANUARY 1, 20 , A NEW TAX ON THE FIRST SALE OR TRANSFER OF UNPROCESSED MARIJUANA BY A MARIJUANA CULTIVATION FACILITY AT THE RATE OF PERCENT (%) OF THE PRICE PAID BY THE PURCHASER OR TRANSFEREE OF THE MARIJUANA, WITH THE TAX REVENUES BEING USED TO FUND THE ENFORCEMENT OF REGULATIONS ON THE RETAIL AND MEDICAL MARIJUANA INDUSTRY, OTHER COSTS RELATED TO ENFORCEMENT OF MARIJUANA LAWS, EDUCATION AND PUBLIC HEALTH PROGRAMS ASSOCIATED WITH MARIJUANA CONSUMPTION INCLUDING PREVENTION OF UNDERAGE CONSUMPTION, AND OTHER GENERAL PURPOSES OF THE CITY; WITH THE RATE OF THE TAX BEING ALLOWED TO BE INCREASED OR DECREASED WITHOUT FURTHER VOTER APPROVAL SO LONG AS THE RATE OF TAXATION DOES NOT EXCEED PERCENT ( %), IN 10