UBCM wants to share the wealth of cannabis excise tax revenue
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A group advocating on behalf of municipalities and some First Nations across BC wants the province to share its cannabis excise tax revenue that has put millions of dollars into provincial coffers.
Union of BC Municipalities outgoing president Maja Tait says 99 percent of the group’s 189 members voted in favour of seeking a portion of the revenue at a convention this week after four similar votes in recent years.
The tax is paid by licensed cannabis producers when their products are delivered to a retailer or customer and the federal government retains 25 percent of the cash up to 100 million dollars a year, but the rest goes to provinces and territories, which could pass it on to municipalities.
The union says BC is expected to get 50-million dollars in revenue from the excise tax in 2020 to 2021 fiscal year and Tait says municipalities have not received any of it despite assuming costs.
