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Medical marijuana money set to go to schools on hold

Medical Marijuana photo
Posted at 6:05 PM, Jan 07, 2020
and last updated 2020-01-07 19:05:55-05

TULSA, Okla. — Hundreds of thousands of dollars are set to go to Oklahoma schools, but all that money is just sitting around.

It's money collected from taxes on medical marijuana sales - 7% of all sales going to the Oklahoma Medical Marijuana Authority's budget. The OMMA is the body that processes all the applications dealing with medical marijuana.

Once the budget is filled, 75% of the runoff goes to education.

The OMMA's $5.8 million budget was filled and then some in fiscal year 2019, according to the OMMA. Education is set to receive more than $767,000.

But the OMMA only collects the money; Oklahoma's legislature has to decide how it's distributed into education. That will happen during the legislative cycle beginning in February.

This year's OMMA budget is much larger than last year's ($25.7 million for FY 2020 versus $5.8 million in 2019), and they've already collected more than 65% of it ($16.9 million collected), just halfway through the fiscal year.

At that rate, education next year could receive $6 million in excess funds.

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