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Henderson marijuana money to go to education

Posted at 6:31 PM, Nov 30, 2017
and last updated 2018-11-21 17:26:30-05

The City of Henderson is hoping to move millions of dollars from recreational marijuana revenue into benefiting city schools.

Henderson already has 5 dispensaries open around town.  The city is charging a business license fee to dispensaries, collecting 3 percent of their gross earnings every 6 months.

That money is put into an account. Most goes towards maintaining the dispensaries, but the city is setting aside 30 percent of that fund for education.

For the rest of this year, Henderson expects around $500,000 to $1 million to be paid into the fund, and next year, that number is expected to jump to $3 million.  That would mean of that $3 million, about $1 million would be invested into schools.

Richard Derrick with the city of Henderson says they're working with principals to figure out how that money would be spent.  He says that $1 million would go a long way in dealing with some of the district's budget issues.

He also says curriculum and technology are other major areas funding might go.