WeedLex
Jul 3, 2016 9:15 AM

Colorado Students Awarded Cannabis Tax Scholarship

Pueblo County, Colorado, has awarded 25 local high school students with a college scholarship financed by the funds generated from cannabis excise taxes.

In cooperation with the Pueblo Hispanic Education Foundation, the county has allocated $750,000 for high school students. Though the full funds will be available next year, Pueblo County has already awarded college scholarships to 25 students that graduated from high schools this year. Besides, the county also participates in the 2015-16 Colorado Opportunity Scholarship Initiative that devotes $226,597 to scholarship grants.

Tax Law Paradoxes: Marijuana Tax Revenue Legal, Tax Deductions Outlawed
Tax Law Paradoxes: Marijuana Tax Revenue Legal, Tax Deductions Outlawed
When it comes to legalizing weed, there is a certain contradiction between the federal and local laws. While marijuana remains classified as a Schedule I drug and is illegal at the federal level, 25 states plus the District of Columbia have legalized it for either medical, or recreational purposes, or both.

Thanks to these two grants combined, 25 students of Pueblo County were granted $2,000 scholarships—half of the sum was received from the state opportunity grant, and the other half was covered by the weed excise tax funds. The high school students can use these funds either at Pueblo Community College or Colorado State University-Pueblo.

These grants are a great opportunity for students who just graduated from local high schools to get a college degree without taking out loans. For instance, Janet Calzadillas Chavez, who is one of the 25 grant recipients, is going to receive education at college and will become the first in her family with a college degree. If she successfully passes her International Baccalaureate exams, Chavez will finish her education in just three years.

Last year, the county put the initiative of the cannabis exit tax on the ballot with the purpose to finance the furthering of education for local students. This initiative is vital for Pueblo, as it allows bringing more educated workforce to high-tech businesses and stimulating the county's economy as a result.

Marijuana Laws by State: Who Votes on Weed Legalization in November?
Marijuana Laws by State: Who Votes on Weed Legalization in November?
Although it looks like marijuana federal law will remain unchangeable in the near future, thousands of Americans will get the chance to change their local marijuana policies on the upcoming ballot in November.

Sal Pace, the county commissioner for District 3, understands the importance of cannabis development for Pueblo's economy. Marijuana cultivation in the county is less expensive than in Denver, thus, many weed growers have relocated down to Pueblo. Sal Pace has created legislation that divides revenues from pot excise taxes between special projects. Now, 50% of the funds are devoted to college scholarships, while other 50% are dedicated to community improvement projects.

The Pueblo Hispanic Education Foundation helps the county distribute the cannabis funds as it has been raising money for scholarships for more than thirty years. Though the foundation previously rejected some applications, it may face the opposite problem next year, as the ballot provides college scholarships for 400 high school students in the county.

Some people have a skeptical attitude towards these scholarships because of the fund origins, but it is more important whom the cannabis money will help. For Pueblo students, it is a great opportunity to get a college degree that would be otherwise beyond their budgets.

Colleges May Be Allowed to Grow Marijuana
Colleges May Be Allowed to Grow Marijuana
For a very long time, growing as well as consuming marijuana and hemp have been illegal in the whole world. They both belong to the same cannabis family that has been considered as Schedule 1 drug for many years.
Comments
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People get so used to hearing about the impressive tax revenues that cannabis industry has brought to the local budgets of the states with legalized recreational weed, that it actually tricked some of them to thinking marijuana taxes can solve all the problems of their neighborhood.
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