Henderson public schools will soon see the financial fruits of retail marijuana.
The Henderson City Council on Tuesday unanimously approved — with the absence of Mayor Debra March — a resolution to give schools money from retail marijuana business license fees.
“This was a controversial vote in the whole state and it did pass, so one of the basis of it passing was that it benefit education,” said Councilman Dan Shaw, who introduced the resolution. “It means that now and in the future those funds will be used for education. I think it’s a very good use of these funds.”
The city has collected $757,000 from five medical marijuana licenses since the first store opened in 2015, city spokesman David Cherry said. No tally exists yet for recreational pot license revenue.
The fee is based on 3 percent of gross revenue, collected every six months, Cherry said. Recreational pot sales started last month in Henderson, though they started in Las Vegas on July 1.
City officials should know the tally by April, Cherry said.
Cherry said city officials expect 2018 marijuana business revenue to be $500,000 to $1.1 million, and as much as $3 million from 2019 to 2021 and $5 million after 2021. Of that, 30 percent of recreational revenue would go to education under the resolution.
Also under the resolution, the Henderson Community Education Advisory Board, established to monitor student and local school precinct needs, would make recommendations to the City Council on how to spend the money.
Rough estimates of business license fee revenue, of which 30 percent would go to schools:
■ FY2018: estimated revenues up to $1 million
■ FY2019: estimated revenues up to $3 million
■ FY2020: estimated revenues up to $4 million
■ FY2021: estimated revenues up to $5 million
Source: City of Henderson