Tuesday, March 5, 2024

Rockford Considered Utilizing Cannabis Tax Revenue in Cannabis Fund


Despite the recession brought on by the COVID-19, the recreational marijuana sales in Illinois were also struck by the pandemic during its first year.

For months, local tax dollars in the Forest City have been generating from weed sales. Starting in January 2021, that money could help those struggling the most.

Rockford City Council members mean to set a cannabis fund using the 3% local tax on marijuana, aiming at empowering local society and economy.

Tom McNamara, the Rockford Mayor, said that the priority of local tax was to invest in a hard hit distressed area, so he was putting forward a resolution that states that these dollars are dedicated to distressed areas to invest in their social and economic empowerment in these distressed areas. The areas that have been either forgotten about or hardest hit due to the war on drugs.”

Supporters say the fund could be used to invest in at-risk youth programs that need assistance to get off the ground.

“We can help fund them. Let’s say there’s a small business owner who may have had a challenging background who wanted to start a great business we can help fund it. Let’s say there’s a grocery store that’s looking to go into an area that’s a food dessert, but may need a little additional incentive to come into this area we can help secure it utilizing these funds,” Mayor McNamara added.

All funds will be distributed based on City Council approval. The full City Council will vote to approve the fund at their next meeting.

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