More than $87M distributed to municipalities from Marihuana Regulation Fund

MICHIGAN (WNEM) - More than $87 million is going to be distributed among 269 municipalities and counties as part of the Michigan Regulation and Taxation of Marijuana Act.

The Michigan Department of Treasury (Treasury) made the announcement on Thursday, Feb. 29.

In total, 99 cities, 30 villages, 69 townships, and 71 counties will receive payments over the next few days from the Marihuana Regulation Fund. According to the Treasury, revenue was collected from 737 licensees among the state’s municipalities during the 2023 fiscal year.

For the 2023 state fiscal year, there was more than $290.3 million available for distribution from the Marihuana Regulation Fund, the Treasury said.

For Michigan’s 2023 fiscal year, each eligible municipality and county will receive more than $59,000 for every licensed retail store and microbusiness within its jurisdiction. Some of the municipalities have more than one licensed retail store and microbusiness.

In mid-Michigan, the following cities and township are some of the municipalities receiving funds:

• Bay City: $945,381.60
• City of Flint: $531,777.15
• City of Saginaw: $472,690.80
• City of Burton: $590,863.50
• Bangor Township: $886,295.25

The Treasury said state law outlines how much money is distributed from the Marihuana Regulation Fund.

Beyond the pay outs to municipalities and counties, the School Aid Fund for K-12 education was sent $101.6 million, and another $101.6 million was sent to the Michigan Transportation Fund.

For a list of all cities, villages, townships, and counties receiving payments, click here.

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