People are spending millions of dollars on legal marijuana in Nevada, and a state senator and a Las Vegas City Council member want the associated excise tax revenue generated in Clark County to help fund local schools.
Sen. Tick Segerblom, D-Las Vegas, and Mayor Pro-Tem Lois Tarkanian, an opponent of medical and recreational marijuana, said today that revenue from the 10 percent excise tax on recreational marijuana sales should go to the Clark County School District instead of the state’s rainy day fund.
Segerblom said he expects recreational pot sales in Clark County to generate about $75 million in excise taxes over two years.
“We want $75 million to come out of the rainy day fund and to go to the School District,” Segerblom said. “It would probably require a special session” of the Legislature.
Segerblom said he has not contacted the Governor’s Office about the possibility of calling a special session.
But the Governor’s Office said in a statement that the state distributive school account in the general fund will get $63.5 million in projected pot tax revenue. It said a special session is not necessary.
Marijuana tax revenue was earmarked for the rainy day fund in the final days of the Legislature.
“We know that the schools need it,” Segerblom said of the money. “We know that’s what the public wants.”
The Legislature will meet for its biennial regular session in early 2019.