Illinois Trumpets 50% Rise in Adult-Use Pot Sales, Tax Revenue

Illinois Trumpets 50% Rise in Adult-Use Pot Sales, Tax Revenue

The Illinois Adult Cannabis Program is 50-50 years old. So that sales will increase by 50% and tax revenue will increase by 50%.

Governor beat the numbers publication “The total tax reported from adult cannabis increased by 50% from $ 297.7 million in 2021 to $ 445.3 million in 2022,” Illinois said Monday, a 50% increase in adult cannabis. Said. Cannabis sales will increase from $ 1 billion in fiscal year 2021 to $ 1.5 billion in fiscal year 2022.

“Illinois has done more to put justice and equity at the forefront of the industry than any other state in the country, striving to ensure that communities hurt by the drug war have the opportunity to participate. “It was,” said Illinois Governor JB Pritzker. Democrat, Said At the announcement. “$ 1.5 billion in adult cannabis sales in Illinois represents significant tax revenue, with a portion of the $ 1 spent reinvesting in a community that has been suffering for decades. To do.”

“Cannabis tax payments to local governments increased significantly from fiscal 2021 to fiscal 2022, up 77% from $ 82.8 million to $ 146.2 million,” the announcement said. Under the law, “25% of tax revenue from the sale of cannabis must support communities that are in financial distress, have experienced high rates of violence, and have been disproportionately affected by drug crime. Must be. “

Illinois’ new cannabis law will be the centerpiece of Pritzker’s first term, and the Democratic Party will be reelected this year.

Pritzker signed a bill in 2019 to legalize the use of recreational cannabis for adults. The state regulated cannabis market opened in early 2020.

In January, Illinois Financial Experts and Regulatory Authority (IDFPR) said adult weed sales doubled in 2021 from about $ 669 million in the first year of 2020 to $ 1,379,088,278.61 last year. I reported.

In addition to forming a regulated market, Illinois’ new marijuana law also focuses on relief for individuals and communities affected by the war on drugs.

When the new law came into force in early 2020, Pritzker marked the opportunity by issuing more than 11,000 amnesty to nonviolent cannabis offenders.

“We are about to end the 50-year war against cannabis,” Pritzker said at the time. “We are regaining the rights of tens of thousands of Illinois. We are bringing regulation and security to previously unsafe and illegal markets. And we are a new industry centered on equity. Is creating. “

Last month, Pritzker announced plans to grant 185 new cannabis dispensing licenses, with a particular focus on non-white applicants.

“Today is the beginning of the next chapter of the country’s fairest adult cannabis program,” Pritzker announced plans for the lottery. “After signing the country’s most equitable program, eradicating thousands of low-level cannabis convictions, and investing tens of millions of dollars in cannabis revenue in a community that failed in the war on drugs, we More than doubles the number of adult cannabis pharmacies in Illinois. This is because communities struggling with historic investment cuts have joined this growing industry and its composition makes our state diverse. It means a myriad of opportunities to make sure it reflects. “

In publication On Monday, Pritzker’s office said, “The state has adult cannabis to support and invest in underserved communities through the restoration, reinvestment, and renewal of the Illinois Criminal Justice Information Agency. A grant of $ 113.5 million was awarded using funds generated from taxes on sales. (R3) Program. “

With two decades of dedicated experience, Nuggs is a seasoned cannabis writer and grower. His journey has been a harmonious blend of nurturing cannabis from seed to harvest and crafting insightful content. A true expert, they've honed strain-specific knowledge, cultivation techniques, and industry insights. His passion shines through enlightening articles and thriving gardens, making them a respected figure in both the growing and writing facets of the cannabis world.

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