SPRINGFIELD, Ill. (WCIA) – Illinois is rolling in more green this fiscal year from adult-use cannabis.
Governor J.B. Pritzker announced Monday the state of Illinois generated $445.3 million tax dollars from adult-use cannabis during fiscal year 2022, a 50% increase from last year. Total sales for cannabis are more than $1.5 billion.
“The cannabis industry continues to have a positive impact in Illinois,” Illinois Department of Revenue Director David Harris said. “It has created hundreds of jobs at cultivation centers and dispensaries throughout the state, and tax revenue generated continues to flow to local governments, help with drug programs and treatments, and is also being reinvested back into the communities that need it the most.”
By law, 25% of the cannabis tax revenue must go towards communities that are either economically distressed, experience high rates of violence, and have been disproportionately impacted by drug criminalization.
“I’m hopeful that investments can be seen and felt by residents who live in these communities immediately and going forward,” Rep. Sonya Harper (D-Chicago) said. “The true success of our state’s cannabis industry depends not only on diversifying the marketplace and clearing criminal records, but also making sure that we invest the tax revenue strategically and purposely to those in need of the most repair from the failed war on drugs.”