Colorado Springs News, Sports & Business

Gov. Hickenlooper scales back Colorado marijuana tax prediction

Associated Press - Published: April 7, 2014 0

DENVER — Colorado's uncertain marijuana market has prompted the governor to ratchet back his projection of how much tax the newly legal drug could produce.

Democratic Gov. John Hickenlooper said in February that medical and recreational pot taxes and fees would produce some $134 million for the fiscal year beginning in July.

But Hickenlooper has pared back those expectations. He reduced his projection by more than $20 million, citing uncertainty in the market. Hickenlooper's budget director plans to ask lawmakers for the scaled-back spending on Tuesday.

The biggest reduction is in substance-use disorder treatment, an $8 million proposed reduction.

The governor has also changed his request to account for a request by state police chiefs to spend more on training police officers to spot drug-impaired drivers.

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