After years in the works, an initiative to reinvest recreational-use cannabis excise tax revenue into Albuquerque communities is taking a step toward reality.
In 2023, the Albuquerque City Council approved a bill to put the tax revenue from marijuana sales into a permanent Marijuana Equity and Community Reinvestment Fund for those who have been “negatively impacted by the criminalization of marijuana.”
During the Finance and Government Operations Committee meeting on Monday, councilors advanced a bill that lays the ground work to put the money to use in the community.
The city anticipates the tax revenue to generate $4.02 million per year and if the council as a whole approves the bill, it would allow the fund to be used for the following:
- Evidence-based drug education, awareness, and prevention programs for youth;
- Evidence-based substance use treatment for youth, including but not limited to inpatient detoxification;
- Recovery housing and supportive aftercare;
- Supplemental income programs;
- Workforce development and job training;
- Technical assistance for small marijuana business owners in impacted communities;
- Programs for people re-entering after incarceration;
- Programs operated by Equity and Inclusion for the benefit of populations disproportionately impacted by the historical criminalization of marijuana.
During the meeting, Associate Chief Administrative Officer Carla Martinez told councilors if the bill is approved, the funds will be “split equally between” the Office of Equity and Inclusion and the Department of Health, Housing and Homelessness to partner with multiple organizations.
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