(Image Credit: CFJC Today)

By Dylana Kneeshaw

CANNABIS REVENUE SHARING

Mayor of Kamloops awaiting results of UBCM discussion regarding cannabis revenue sharing agreement

Sep 28, 2019 | 5:15 PM

KAMLOOPS — Post- Union of BC Municipalities Convention, the Mayor of Kamloops is eager to see what will come from discussions around a cannabis taxation revenue-sharing agreement.

With the implementation of legalized cannabis sales, many local governments have had to bear some additional costs with the change. Municipalities have been urging the provincial government to transfer a portion of the money generated from cannabis sale taxes, but a solid agreement has not yet been established.

The UBCM recently provided the province’s Finance Minister, Carole James with the results of a local government cannabis cost survey that was conducted. (Findings accessed here)

While in Vancouver for the annual UBCM Convention, Kamloops Mayor Ken Christian says he got a chance to speak with James about how cannabis money will be divided.

“I expressed on behalf of council the concern we have that it’s taking disproportionately long to get an agreement in terms of taxation sharing,” He says, “As well as getting licenses for those facilities that we have already approved in Kamloops.”

Question of the Week

If the time change was eliminated in B.C., which time would you prefer?

Nov 04, 2024

Week in Review

Week in Review: Week of Oct. 28

Nov 04, 2024

One Man's Opinion

COLLINS: Sometimes you have to abandon your principles and yield to your natural instinct

Nov 03, 2024

Christian says the city would like to see a revenue sharing model set up that is similar to what exists for gaming.

“So if you host and house cannabis retail in your community, you get a share of the taxation generated in your community.”

He notes that this model would also allow for the cannabis taxation money to go to the communities who actually want the cannabis industry to be active in their jurisdictions.

“That takes into account that some communities like Richmond have decided not to have cannabis shops,” He says, “So I don’t see that they should share in the revenue from those of us that have decided that cannabis would be part of our retail offering.”