Image Credit: CFJC Today

By Dylana Milobar

B.C CANNABIS

Retail license wait list shortening, cannabis revenue-sharing still not set: UBCM President

Jul 3, 2019 | 9:28 AM

KAMLOOPS — Despite cannabis becoming legal eight months ago, there has been no decision yet how revenue from retail taxation will be split between governments.

On top of that, a number of applications for retail cannabis licenses are still in the queue.

For the last year and a half, Union of BC Municipalities President Arjun Singh says representatives from various cities have been working with the provincial government to get those licenses approved.

“I guess it’s no surprise that some of this stuff is rolling out slowly here and there,” Singh explains, “We have noted that in May and June there has been an uptick in approvals for the province, which we think is a good sign.”

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Helping shape how cannabis taxation funds will be divided, Singh says UBCM has been updating the province on what kind of costs local governments have incurred since legalization.

So far, a set number has not been chosen as to how the money will be shared with municipalities.

“We’d like to get 40 per cent of the revenue coming in from the federal excise tax, coming from a provincial share,” Singh says. “The federal government always contemplated that local governments would get a share of the money that they’re sending to the provinces.”

Singh says the hope is that a revenue sharing agreement can be struck before the Union of BC Municipalities hosts its annual conference in September.

Image Credit: CFJC Today