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Thomas Walkom: Pot’s dirty secret: It’s a money-maker for governments Ontario passes Cannabis Act, will take effect July 1, 2018 Nevada is actually beholden to pot-heads. State legislators had been scrambling to replace the monies from hundreds of millions of dollars — Nevada’s share of settlements with tobacco companies, recouped to cover the cost of health-care spending attributed to smoking-related illnesses. But that pot of gold, which has funded dozens of education and social programs, has severely dwindled, even though payments from 53 tobacco manufacturers to 46 states were to run a minimum of 25 years (beginning in 2008), totalling at least $206 billion (U.S.). Marijuana tax revenue allotted to Nevada’s schools — the Distributive Schools Account, it’s called, carefully avoiding the dope essence — has grown from $571,385 in fiscal 2016 (when only medical marijuana taxes were collected) to a projected $20 million from medical and recreational tax revenues in fiscal 2018. That’s the educational cut from a 15-per-cent wholesale tax estimated to rake in more than $56 million by ’18, according to government figures. Five million dollars has been set aside to offset the cost of enforcing marijuana regulations. Politicians bungle everything — legal pot will be no different

thumbnail courtesy of thestar.com