Nevada Recreational Marijuana Program to Get Started with $870K
Nevada's fledgling recreational marijuana program finally has some money to get off the ground.
The state's Interim Finance Committee on Thursday approved a seed loan of approximately $871,000 for the startup of the new program under the Department of Taxation.
"We just want to make sure that we are meeting our responsibility and getting this all done by the deadline," said Stephanie Klapstein, spokeswoman for the department.
The program will be regulating and taxing the recreational marijuana industry since Nevadans voted in November to legalize the substance as of Jan. 1.
The loan will be pulled form the Interim Finance Contingency Account and will go toward costs incurred between Feb. 1 and the end of the current fiscal year, in June. Thereafter, Gov. Brian Sandoval has proposed a $1.9 million annual budget for the program during Fiscal Year 2018 and the same amount for the following fiscal year, according to Mari St. Martin, spokeswoman...
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