In the two decades since California first legalized recreational cannabis, the controversial plant has generated billions of dollars in taxes for states. Recognizing the impact the war on drugs had on Black and Brown communities, several states dedicated a chunk of these funds toward reinvesting in these communities. Additionally, cannabis taxes have also been used to fund programs that offer various kinds of aid.
Despite the controversy that surrounds cannabis, funds raised from marijuana sales have consistently been used to do good. In that vein, officials from Colorado recently announced that there would be a second round of auctions to sell ceremonial cannabis-themed license plates. The funds raised from this round of auctions will be used to fund programs for people living with disabilities.
There will be 22 different license plates on sale, each of them branded with cannabis-related terms such as 420, HASH, BONGWTR and WEED. People will be able to bid on these cannabis-themed license plates until 4:20 p.m. MT on April 20. In a press release, Colorado Governor Jared Polis said that Colorado’s lucrative cannabis industry has allowed the state to finance critical projects as well as programs that aid the disabled community.
Last year, the Colorado Disability Funding Committee received more than $45,000 from the inaugural auction of ceremonial cannabis license plates. The auction in 2021 featured the TEGRIDY license plate, which is named after a fictional cannabis brand in South Park. It generated the greatest interest among bidders and was presented to the creators of “South Park” to celebrate the anniversary of the show.
According to Lt. Gov. Dianne Primavera, this second round of auctions provides a great opportunity to generate grant funding for entities that serve people living with disabilities. For starters, some of the funds raised during last year’s auction allowed Family Voices CO to launch a pilot program to help children living with deaf-blindness.
The auction will grant people the liberty to use the marijuana-themed configuration of their choice. They will also be able to resell the configuration in future with the help of the Colorado Disability Funding Committee. Buyers will be required to cover all standard fees applicable to registration, production fees for the customized license plate, plus any extra fees if they prefer a specially designed background for their license plates.
Polis cautioned against driving while intoxicated, stating that cannabis and driving do not mix well. Operating a vehicle while under the influence of cannabis will impair ability to drive safely and significantly increase chances of being involved in an accident.
This fundraising round is testimony to how much good can result when states create laws allowing licensed cannabis companies such as Flora Growth Corp. (NASDAQ: FLGC) to operate and positively impact different sections of the community, such as the disabled people.
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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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