MICHIGAN LAWMAKERS LOOK TO HEMP BEVERAGES FOR NEW STATE REVENUE SOURCE

A plan to regulate hemp beverage sales in the Michigan is seen as a source of needed revenue for the state, an example for other legislatures to follow.

"The real substance of proposed hemp regulations has yet to be finalized,” State Rep. Joseph Aragona, R-Clinton Township emphasized to Crain’s Detroit Business, but he said if it ultimately gets through the Legislature, the move could provide “hundreds of millions of dollars” in new taxes to help pay for various infrastructure needs.

“We’re still working out those details,” Aragona said. “In general, this should be hundreds of millions of dollars in additional revenue, easy.”

The news comes at a time when Gov. Gretchen Whitmer and lawmakers are struggling to figure out new income streams to pay for road repairs across the state.

Read the full article here (paywall protected): Crain’s Detroit Business