HB 16-1418 Summary

• Transfers $26,277,661 from the marijuana tax cash fund to the general fund on July 1, 2016.

• Amends the general fund distribution formula related to retail marijuana sales tax revenues by removing conditional language tied to a November 3, 2015 ballot issue.

• Repeals provisions that would have reduced marijuana tax cash fund transfers based on whether voters approved or rejected a ballot measure and a "general fund repayment" calculation.

• Declares the act necessary for immediate preservation of public peace, health, and safety under the safety clause provision.