Los Angeles Considering Using Marijuana Taxes to Help Homeless

http://hightimes.com/read/los-angeles-considering-using-marijuana-taxes-help-homeless



Los Angeles Considering Using Marijuana Taxes to Help Homeless
By Mike Adams · Fri Mar 25, 2016

Los Angeles may have devised an unusual idea to curb the homelessness rates in the Skid Rows of old Hollywood. City officials are reportedly mulling over a plan in a series of budget talks that would utilize a portion of the tax revenue generated from the local medical marijuana industry to build more affordable housing units for local residents.

Earlier last month, the local government approved an impressive $2 billion budget plan intended get the homeless population off the streets through the implementation of a new housing project. However, according to KPCC, the challenge for administrators has been in determining exactly how the city is going to finance such an extensive construction campaign.

"Even as our economy improves, we do not anticipate to have an additional $1.78 billion over the next 10 years to dedicate for this purpose," Chief Administrative Officer Miguel Santana told the City Council during a recent meeting.

One of the proposals selected by city budget analysts suggests a 15 percent tax on the cultivation and sale of medical marijuana – an effort that officials predict would generate nearly $17 million annually. It was even mentioned in the report that the yearly haul from this non-traditional revenue stream could increase exponentially if California voters decide later this year to legalize a recreational sector.