$20 Million of Tax Revenue Allocated to Michigan Cannabis Research

Lift Cannabis Expo 2018 by GoToVan

Lift Cannabis Expo 2018 by GoToVanThe Marijuana Business Daily reports that Michigan is allocating $20 million of its recreational marijuana tax revenue this year toward cannabis-related medical research:

A March 4 announcement about the disbursement of marijuana tax revenue from the Michigan Department of Treasury made no mention of putting the money toward research.

However, Michigan law requires that the treasury department use that revenue to “provide $20 million annually to one or more clinical trials … researching the efficacy of marihuana in treating the medical conditions of United States armed services veterans and preventing veteran suicide.”

Michigan’s cannabis regulator, the Marijuana Regulatory Agency (MRA), previously told MLive.com that the agency was still setting up a dispersal system for the funding.

Now, the MRA has told the news website that the $20 million in research funding has been appropriated and will start being distributed over the current fiscal year, which ends in September.

Read more & stay tuned to the MCT for updates regarding cannabis research in Michigan.

photo credit: Lift Cannabis Expo 2018 by GoToVan