Colorado’s marijuana money, year by year
Pick a year. Four cards show how the money moved from the year before, and how far the plan was from what the state’s payment ledger shows paid.
FY 2019-20: July 2019 to June 2020
Each bar is one fiscal year of DOR revenue months, July to June. Share = a destination’s dollars ÷ all distributed dollars that year CALC. Years before FY 2019-20 are drawn pale, for context.
| Destination | ShareCALC | Change from 18-19CALC | DollarsCALC |
|---|---|---|---|
| Marijuana Tax Cash Fund | 47.8% | −1.6 points | $158.3M |
| General Fund | 9.6% | −1.0 points | $31.7M |
| Local governments | 6.8% | −0.2 points | $22.6M |
| Marijuana Cash Fund | 3.6% | −0.7 points | $11.9M |
| School construction (BEST) | 24.4% | +5.2 points | $80.8M |
| State Public School Fund | 7.7% | +0.4 points | $25.6M |
| Public School Fund (permanent) | 0.0% | −2.1 points | $0 |
| All distributed | 100.0% | $330.9M |
The local governments’ share is 6.8%, −0.2 points from FY 2018-19. The law sets it. Local governments received 10% of the gross retail marijuana sales tax through June 2025 and 3.5% in FY 2025-26. From 1 July 2026 they receive none (SB25-268 and HB26-1409) FACT
Sorted by the size of the difference. Difference = paid − final plan; percent = difference ÷ final plan CALC. Exact whole dollars in every column: the plan as JBC prints it, TOPS payments rounded to the dollar.
| Department | Final planFACT | Paid (TOPS)CALC | DifferenceCALC | %CALC |
|---|---|---|---|---|
| Human Services | $52,559,068 | $28,978,675 | −$23,580,393 | −44.9% |
| Public Health and Environment | $31,073,446 | $23,006,583 | −$8,066,863 | −26.0% |
| Local Affairs | $22,220,807 | $15,532,277 | −$6,688,530 | −30.1% |
| Education | $27,079,365 | $22,205,645 | −$4,873,720 | −18.0% |
| Higher EducationState colleges keep their own books; what they pay from this money may not appear in TOPS under the fund. | $5,400,000 | $1,513,877 | −$3,886,123 | −72.0% |
| Public Safety | $6,904,119 | $4,145,157 | −$2,758,962 | −40.0% |
| TransportationTOPS records no payment from the fund for this department in any year read; the ledger does not say why. | $1,950,000 | none recorded | −$1,950,000 | −100.0% |
| JudicialIts plan line is an appropriation into another cash fund, the Correctional Treatment Cash Fund, so TOPS records the spending, if at all, under that fund. | $1,603,319 | none recorded | −$1,603,319 | −100.0% |
| Health Care Policy and FinancingTOPS carries no Medicaid claims, so a payment from the fund through the claims system does not appear. | $1,500,000 | $353,133 | −$1,146,867 | −76.5% |
| Agriculture | $1,896,649 | $879,766 | −$1,016,883 | −53.6% |
| Governor | $1,253,640 | $529,215 | −$724,425 | −57.8% |
| Law | $1,211,654 | $570,041 | −$641,613 | −53.0% |
| Revenue | $1,278,416 | $1,043,628 | −$234,788 | −18.4% |
| Labor and Employment | no plan | $528,328 | ||
| The fund | $155,930,483 | $99,286,326 | −$56,644,157 | −36.3% |
A difference is not money left unpaid. TOPS lists about three quarters of state spending, and it carries no Medicaid claims. It records a payment by journal date, not by the year it was appropriated for. $0.5M of the paid total is in departments with no plan from the fund that year. Transfers out of the fund are not payments; they are under Purpose.
Bar length is each year’s final plan in dollars. The FY 2024-25 and FY 2025-26 plans print departments only, so their overhead is not drawn apart from programs.
| Use | DollarsFACT | Share of planCALC |
|---|---|---|
| Department programs | $150.2M | 94.3% |
| Overhead linesThe lines the table names “centrally appropriated amounts” and “indirect cost assessments”. | $5.8M | 3.6% |
| Transfers to school operating funds | $2.5M | 1.6% |
| Other transfers, net | $0.8M | 0.5% |
| The final plan | $159.2M | 100.0% |
Dollars are the JBC table’s printed lines, summed CALC. A transfer is counted once, as money leaving the fund.
This year’s plan at enactment was printed in the FY 2019-20 Appropriations Report, a copy we have not yet obtained, so no change is computed. The final plan is $159.2M.
Carry. What the year left in the fund at its close: PENDING
FY 2020-21: July 2020 to June 2021
Each bar is one fiscal year of DOR revenue months, July to June. Share = a destination’s dollars ÷ all distributed dollars that year CALC. Years before FY 2019-20 are drawn pale, for context.
| Destination | ShareCALC | Change from 19-20CALC | DollarsCALC |
|---|---|---|---|
| Marijuana Tax Cash Fund | 46.2% | −1.6 points | $202.1M |
| General Fund | 9.3% | −0.3 points | $40.6M |
| Local governments | 6.6% | −0.2 points | $29.0M |
| Marijuana Cash Fund | 2.8% | −0.8 points | $12.2M |
| School construction (BEST) | 9.2% | −15.3 points | $40.0M |
| State Public School Fund | 25.9% | +18.2 points | $113.2M |
| All distributed | 100.0% | $437.1M |
The local governments’ share is 6.6%, −0.2 points from FY 2019-20. The law sets it. Local governments received 10% of the gross retail marijuana sales tax through June 2025 and 3.5% in FY 2025-26. From 1 July 2026 they receive none (SB25-268 and HB26-1409) FACT
Sorted by the size of the difference. Difference = paid − final plan; percent = difference ÷ final plan CALC. Exact whole dollars in every column: the plan as JBC prints it, TOPS payments rounded to the dollar.
| Department | Final planFACT | Paid (TOPS)CALC | DifferenceCALC | %CALC |
|---|---|---|---|---|
| Local Affairs | $17,482,892 | $5,710,017 | −$11,772,875 | −67.3% |
| Human Services | $44,759,491 | $39,561,316 | −$5,198,175 | −11.6% |
| Higher EducationState colleges keep their own books; what they pay from this money may not appear in TOPS under the fund. | $4,050,000 | $976,422 | −$3,073,578 | −75.9% |
| Public Health and Environment | $20,129,803 | $17,349,981 | −$2,779,822 | −13.8% |
| JudicialIts plan line is an appropriation into another cash fund, the Correctional Treatment Cash Fund, so TOPS records the spending, if at all, under that fund. | $1,587,285 | none recorded | −$1,587,285 | −100.0% |
| Education | $21,939,141 | $20,438,352 | −$1,500,789 | −6.8% |
| Public Safety | $6,075,453 | $4,654,635 | −$1,420,818 | −23.4% |
| Governor | $1,424,180 | $361,387 | −$1,062,793 | −74.6% |
| Agriculture | $1,903,394 | $870,280 | −$1,033,114 | −54.3% |
| TransportationTOPS records no payment from the fund for this department in any year read; the ledger does not say why. | $450,000 | none recorded | −$450,000 | −100.0% |
| Health Care Policy and FinancingTOPS carries no Medicaid claims, so a payment from the fund through the claims system does not appear. | $500,000 | $383,775 | −$116,225 | −23.2% |
| Revenue | $1,063,130 | $1,030,148 | −$32,982 | −3.1% |
| Law | $175,209 | $190,545 | +$15,336 | +8.8% |
| Labor and Employment | $300,000 | $292,975 | −$7,025 | −2.3% |
| The fund | $121,839,978 | $91,819,833 | −$30,020,145 | −24.6% |
A difference is not money left unpaid. TOPS lists about three quarters of state spending, and it carries no Medicaid claims. It records a payment by journal date, not by the year it was appropriated for. Transfers out of the fund are not payments; they are under Purpose.
Bar length is each year’s final plan in dollars. The FY 2024-25 and FY 2025-26 plans print departments only, so their overhead is not drawn apart from programs.
| Use | DollarsFACT | Share of planCALC |
|---|---|---|
| Department programs | $115.5M | 43.4% |
| Overhead linesThe lines the table names “centrally appropriated amounts” and “indirect cost assessments”. | $6.3M | 2.4% |
| Transfers to the General Fund | $137.0M | 51.5% |
| Transfers to school operating funds | $2.5M | 0.9% |
| Other transfers, net | $4.8M | 1.8% |
| The final plan | $266.2M | 100.0% |
Dollars are the JBC table’s printed lines, summed CALC. A transfer is counted once, as money leaving the fund.
Change = final plan − plan at enactment CALC: what the next session changed. Exact whole dollars in every column, as JBC prints them.
| Department | At enactmentFACT | FinalFACT | ChangeCALC |
|---|---|---|---|
| Governor | $1,255,281 | $1,424,180 | +$168,899 |
| Human Services | $44,759,491 | $44,759,491 | $0 |
| Education | $21,939,141 | $21,939,141 | $0 |
| Public Health and Environment | $20,129,803 | $20,129,803 | $0 |
| Local Affairs | $17,482,892 | $17,482,892 | $0 |
| Public Safety | $6,075,453 | $6,075,453 | $0 |
| Higher Education | $4,050,000 | $4,050,000 | $0 |
| Agriculture | $1,903,394 | $1,903,394 | $0 |
| Judicial | $1,587,285 | $1,587,285 | $0 |
| Revenue | $1,063,130 | $1,063,130 | $0 |
| Health Care Policy and Financing | $500,000 | $500,000 | $0 |
| Transportation | $450,000 | $450,000 | $0 |
| Labor and Employment | $300,000 | $300,000 | $0 |
| Law | $175,209 | $175,209 | $0 |
| Appropriations | $121,671,079 | $121,839,978 | +$168,899 |
| Transfers out, net | $140,323,915 | $144,323,915 | +$4,000,000 |
Carry. What the year left in the fund at its close: PENDING
FY 2021-22: July 2021 to June 2022
Each bar is one fiscal year of DOR revenue months, July to June. Share = a destination’s dollars ÷ all distributed dollars that year CALC. Years before FY 2019-20 are drawn pale, for context.
| Destination | ShareCALC | Change from 20-21CALC | DollarsCALC |
|---|---|---|---|
| Marijuana Tax Cash Fund | 47.0% | +0.8 points | $177.9M |
| General Fund | 9.5% | +0.2 points | $35.9M |
| Local governments | 6.8% | +0.1 points | $25.6M |
| Marijuana Cash Fund | 3.4% | +0.6 points | $12.8M |
| School construction (BEST) | 25.7% | +16.6 points | $97.3M |
| State Public School Fund | 7.7% | −18.2 points | $29.0M |
| All distributed | 100.0% | $378.6M |
The local governments’ share is 6.8%, +0.1 points from FY 2020-21. The law sets it. Local governments received 10% of the gross retail marijuana sales tax through June 2025 and 3.5% in FY 2025-26. From 1 July 2026 they receive none (SB25-268 and HB26-1409) FACT
Sorted by the size of the difference. Difference = paid − final plan; percent = difference ÷ final plan CALC. Exact whole dollars in every column: the plan as JBC prints it, TOPS payments rounded to the dollar.
| Department | Final planFACT | Paid (TOPS)CALC | DifferenceCALC | %CALC |
|---|---|---|---|---|
| Human Services | $56,709,603 | $32,558,369 | −$24,151,234 | −42.6% |
| Local Affairs | $17,511,228 | $7,115,857 | −$10,395,371 | −59.4% |
| Higher EducationState colleges keep their own books; what they pay from this money may not appear in TOPS under the fund. | $11,025,000 | $856,754 | −$10,168,246 | −92.2% |
| Education | $27,468,128 | $20,200,411 | −$7,267,717 | −26.5% |
| Public Health and Environment | $22,827,312 | $17,606,038 | −$5,221,274 | −22.9% |
| JudicialIts plan line is an appropriation into another cash fund, the Correctional Treatment Cash Fund, so TOPS records the spending, if at all, under that fund. | $2,180,829 | none recorded | −$2,180,829 | −100.0% |
| Public Safety | $6,610,136 | $5,395,669 | −$1,214,467 | −18.4% |
| Agriculture | $2,123,160 | $1,042,338 | −$1,080,822 | −50.9% |
| TransportationTOPS records no payment from the fund for this department in any year read; the ledger does not say why. | $950,000 | none recorded | −$950,000 | −100.0% |
| Governor | $1,088,823 | $453,745 | −$635,078 | −58.3% |
| Regulatory Agencies | $215,207 | none recorded | −$215,207 | −100.0% |
| Health Care Policy and FinancingTOPS carries no Medicaid claims, so a payment from the fund through the claims system does not appear. | $750,000 | $866,225 | +$116,225 | +15.5% |
| Revenue | $1,031,424 | $1,123,393 | +$91,969 | +8.9% |
| Labor and Employment | $500,000 | $459,647 | −$40,353 | −8.1% |
| Law | $175,399 | $153,992 | −$21,407 | −12.2% |
| The fund | $151,166,249 | $87,832,437 | −$63,333,812 | −41.9% |
A difference is not money left unpaid. TOPS lists about three quarters of state spending, and it carries no Medicaid claims. It records a payment by journal date, not by the year it was appropriated for. Transfers out of the fund are not payments; they are under Purpose.
Bar length is each year’s final plan in dollars. The FY 2024-25 and FY 2025-26 plans print departments only, so their overhead is not drawn apart from programs.
| Use | DollarsFACT | Share of planCALC |
|---|---|---|
| Department programs | $143.5M | 69.5% |
| Overhead linesThe lines the table names “centrally appropriated amounts” and “indirect cost assessments”. | $7.6M | 3.7% |
| Transfers to school construction (BEST) | $50.0M | 24.2% |
| Other transfers, net | $5.3M | 2.6% |
| The final plan | $206.5M | 100.0% |
Dollars are the JBC table’s printed lines, summed CALC. A transfer is counted once, as money leaving the fund.
Change = final plan − plan at enactment CALC: what the next session changed. Exact whole dollars in every column, as JBC prints them.
| Department | At enactmentFACT | FinalFACT | ChangeCALC |
|---|---|---|---|
| Education | $27,468,116 | $27,468,128 | +$12 |
| Public Safety | $6,610,126 | $6,610,136 | +$10 |
| Human Services | $56,709,603 | $56,709,603 | $0 |
| Public Health and Environment | $22,827,312 | $22,827,312 | $0 |
| Local Affairs | $17,511,228 | $17,511,228 | $0 |
| Higher Education | $11,025,000 | $11,025,000 | $0 |
| Judicial | $2,180,829 | $2,180,829 | $0 |
| Agriculture | $2,123,160 | $2,123,160 | $0 |
| Governor | $1,088,823 | $1,088,823 | $0 |
| Revenue | $1,031,424 | $1,031,424 | $0 |
| Transportation | $950,000 | $950,000 | $0 |
| Health Care Policy and Financing | $750,000 | $750,000 | $0 |
| Labor and Employment | $500,000 | $500,000 | $0 |
| Regulatory Agencies | no plan | $215,207 | |
| Law | $175,399 | $175,399 | $0 |
| Appropriations | $150,951,020 | $151,166,249 | +$215,229 |
| Transfers out, net | $105,315,317 | $55,315,317 | −$50,000,000 |
Carry. What the year left in the fund at its close: PENDING
FY 2022-23: July 2022 to June 2023
Each bar is one fiscal year of DOR revenue months, July to June. Share = a destination’s dollars ÷ all distributed dollars that year CALC. Years before FY 2019-20 are drawn pale, for context.
| Destination | ShareCALC | Change from 21-22CALC | DollarsCALC |
|---|---|---|---|
| Marijuana Tax Cash Fund | 50.8% | +3.8 points | $148.7M |
| General Fund | 10.5% | +1.0 points | $30.7M |
| Local governments | 7.5% | +0.7 points | $21.9M |
| Marijuana Cash Fund | 3.8% | +0.4 points | $11.0M |
| School construction (BEST) | 19.0% | −6.7 points | $55.6M |
| State Public School Fund | 8.5% | +0.8 points | $24.8M |
| All distributed | 100.0% | $292.7M |
The local governments’ share is 7.5%, +0.7 points from FY 2021-22. The law sets it. Local governments received 10% of the gross retail marijuana sales tax through June 2025 and 3.5% in FY 2025-26. From 1 July 2026 they receive none (SB25-268 and HB26-1409) FACT
Sorted by the size of the difference. Difference = paid − final plan; percent = difference ÷ final plan CALC. Exact whole dollars in every column: the plan as JBC prints it, TOPS payments rounded to the dollar.
| Department | Final planFACT | Paid (TOPS)CALC | DifferenceCALC | %CALC |
|---|---|---|---|---|
| Human Services | $57,454,150 | $34,890,918 | −$22,563,232 | −39.3% |
| Local Affairs | $17,539,548 | $7,759,638 | −$9,779,910 | −55.8% |
| Higher EducationState colleges keep their own books; what they pay from this money may not appear in TOPS under the fund. | $10,950,000 | $3,805,162 | −$7,144,838 | −65.2% |
| Education | $27,464,577 | $20,362,119 | −$7,102,458 | −25.9% |
| Public Health and Environment | $23,629,208 | $19,781,799 | −$3,847,409 | −16.3% |
| JudicialIts plan line is an appropriation into another cash fund, the Correctional Treatment Cash Fund, so TOPS records the spending, if at all, under that fund. | $2,734,691 | none recorded | −$2,734,691 | −100.0% |
| Public Safety | $7,641,215 | $5,392,104 | −$2,249,111 | −29.4% |
| TransportationTOPS records no payment from the fund for this department in any year read; the ledger does not say why. | $1,701,649 | none recorded | −$1,701,649 | −100.0% |
| Law | $1,830,814 | $689,324 | −$1,141,490 | −62.3% |
| Agriculture | $2,092,889 | $1,308,023 | −$784,866 | −37.5% |
| Governor | $1,096,433 | $527,607 | −$568,826 | −51.9% |
| Early Childhood | $949,978 | $504,527 | −$445,451 | −46.9% |
| Regulatory Agencies | $202,807 | $2,500 | −$200,307 | −98.8% |
| Health Care Policy and FinancingTOPS carries no Medicaid claims, so a payment from the fund through the claims system does not appear. | $1,500,000 | $1,343,750 | −$156,250 | −10.4% |
| Revenue | $1,026,494 | $889,639 | −$136,855 | −13.3% |
| Labor and Employment | $500,000 | $473,366 | −$26,634 | −5.3% |
| The fund | $158,314,453 | $97,730,476 | −$60,583,977 | −38.3% |
A difference is not money left unpaid. TOPS lists about three quarters of state spending, and it carries no Medicaid claims. It records a payment by journal date, not by the year it was appropriated for. Transfers out of the fund are not payments; they are under Purpose.
Bar length is each year’s final plan in dollars. The FY 2024-25 and FY 2025-26 plans print departments only, so their overhead is not drawn apart from programs.
| Use | DollarsFACT | Share of planCALC |
|---|---|---|
| Department programs | $150.1M | 94.5% |
| Overhead linesThe lines the table names “centrally appropriated amounts” and “indirect cost assessments”. | $8.2M | 5.2% |
| Other transfers, net | $0.6M | 0.4% |
| The final plan | $158.9M | 100.0% |
Dollars are the JBC table’s printed lines, summed CALC. A transfer is counted once, as money leaving the fund.
Change = final plan − plan at enactment CALC: what the next session changed. Exact whole dollars in every column, as JBC prints them.
| Department | At enactmentFACT | FinalFACT | ChangeCALC |
|---|---|---|---|
| Human Services | $57,411,291 | $57,454,150 | +$42,859 |
| Public Safety | $7,603,790 | $7,641,215 | +$37,425 |
| Education | $27,464,577 | $27,464,577 | $0 |
| Public Health and Environment | $23,629,208 | $23,629,208 | $0 |
| Local Affairs | $17,539,548 | $17,539,548 | $0 |
| Higher Education | $10,950,000 | $10,950,000 | $0 |
| Judicial | $2,734,691 | $2,734,691 | $0 |
| Agriculture | $2,092,889 | $2,092,889 | $0 |
| Law | $1,830,814 | $1,830,814 | $0 |
| Transportation | $1,701,649 | $1,701,649 | $0 |
| Health Care Policy and Financing | $1,500,000 | $1,500,000 | $0 |
| Governor | $1,096,433 | $1,096,433 | $0 |
| Revenue | $1,026,494 | $1,026,494 | $0 |
| Early Childhood | $949,978 | $949,978 | $0 |
| Labor and Employment | $500,000 | $500,000 | $0 |
| Regulatory Agencies | $202,807 | $202,807 | $0 |
| Appropriations | $158,234,169 | $158,314,453 | +$80,284 |
| Transfers out, net | $30,598,000 | $598,000 | −$30,000,000 |
Carry. What the year left in the fund at its close: PENDING
FY 2023-24: July 2023 to June 2024
Each bar is one fiscal year of DOR revenue months, July to June. Share = a destination’s dollars ÷ all distributed dollars that year CALC. Years before FY 2019-20 are drawn pale, for context.
| Destination | ShareCALC | Change from 22-23CALC | DollarsCALC |
|---|---|---|---|
| Marijuana Tax Cash Fund | 50.2% | −0.6 points | $131.3M |
| General Fund | 10.4% | −0.1 points | $27.3M |
| Local governments | 7.4% | −0.1 points | $19.4M |
| Marijuana Cash Fund | 4.7% | +1.0 points | $12.4M |
| School construction (BEST) | 18.8% | −0.2 points | $49.1M |
| State Public School Fund | 8.4% | 0.0 points | $22.1M |
| All distributed | 100.0% | $261.6M |
The local governments’ share is 7.4%, −0.1 points from FY 2022-23. The law sets it. Local governments received 10% of the gross retail marijuana sales tax through June 2025 and 3.5% in FY 2025-26. From 1 July 2026 they receive none (SB25-268 and HB26-1409) FACT
Sorted by the size of the difference. Difference = paid − final plan; percent = difference ÷ final plan CALC. Exact whole dollars in every column: the plan as JBC prints it, TOPS payments rounded to the dollar.
| Department | Final planFACT | Paid (TOPS)CALC | DifferenceCALC | %CALC |
|---|---|---|---|---|
| Human Services | $59,644,410 | $35,574,009 | −$24,070,401 | −40.4% |
| Higher EducationState colleges keep their own books; what they pay from this money may not appear in TOPS under the fund. | $11,950,000 | $4,006,017 | −$7,943,983 | −66.5% |
| Local Affairs | $17,578,547 | $9,690,479 | −$7,888,068 | −44.9% |
| JudicialIts plan line is an appropriation into another cash fund, the Correctional Treatment Cash Fund, so TOPS records the spending, if at all, under that fund. | $2,734,691 | none recorded | −$2,734,691 | −100.0% |
| Education | $22,159,936 | $19,657,852 | −$2,502,084 | −11.3% |
| Public Health and Environment | $23,661,475 | $21,330,397 | −$2,331,078 | −9.9% |
| Public Safety | $7,833,085 | $6,197,981 | −$1,635,104 | −20.9% |
| Agriculture | $2,138,015 | $1,167,461 | −$970,554 | −45.4% |
| TransportationTOPS records no payment from the fund for this department in any year read; the ledger does not say why. | $950,000 | none recorded | −$950,000 | −100.0% |
| Law | $1,619,766 | $850,923 | −$768,843 | −47.5% |
| Governor | $1,142,532 | $580,454 | −$562,078 | −49.2% |
| Early Childhood | $950,063 | $673,667 | −$276,396 | −29.1% |
| Regulatory Agencies | $202,807 | $35,000 | −$167,807 | −82.7% |
| Labor and Employment | $500,000 | $371,094 | −$128,906 | −25.8% |
| Health Care Policy and FinancingTOPS carries no Medicaid claims, so a payment from the fund through the claims system does not appear. | $1,500,000 | $1,406,250 | −$93,750 | −6.3% |
| Revenue | $1,059,297 | $1,039,590 | −$19,707 | −1.9% |
| The fund | $155,624,624 | $102,581,175 | −$53,043,449 | −34.1% |
A difference is not money left unpaid. TOPS lists about three quarters of state spending, and it carries no Medicaid claims. It records a payment by journal date, not by the year it was appropriated for. Transfers out of the fund are not payments; they are under Purpose.
Bar length is each year’s final plan in dollars. The FY 2024-25 and FY 2025-26 plans print departments only, so their overhead is not drawn apart from programs.
| Use | DollarsFACT | Share of planCALC |
|---|---|---|
| Department programs | $146.7M | 93.9% |
| Overhead linesThe lines the table names “centrally appropriated amounts” and “indirect cost assessments”. | $8.9M | 5.7% |
| Other transfers, net | $0.6M | 0.4% |
| The final plan | $156.2M | 100.0% |
Dollars are the JBC table’s printed lines, summed CALC. A transfer is counted once, as money leaving the fund.
Change = final plan − plan at enactment CALC: what the next session changed. Exact whole dollars in every column, as JBC prints them.
| Department | At enactmentFACT | FinalFACT | ChangeCALC |
|---|---|---|---|
| Human Services | $59,632,335 | $59,644,410 | +$12,075 |
| Local Affairs | $17,575,790 | $17,578,547 | +$2,757 |
| Public Health and Environment | $23,661,475 | $23,661,475 | $0 |
| Education | $22,159,936 | $22,159,936 | $0 |
| Higher Education | $11,950,000 | $11,950,000 | $0 |
| Public Safety | $7,833,085 | $7,833,085 | $0 |
| Judicial | $2,734,691 | $2,734,691 | $0 |
| Agriculture | $2,138,015 | $2,138,015 | $0 |
| Law | $1,619,766 | $1,619,766 | $0 |
| Health Care Policy and Financing | $1,500,000 | $1,500,000 | $0 |
| Governor | $1,142,532 | $1,142,532 | $0 |
| Revenue | $1,059,297 | $1,059,297 | $0 |
| Early Childhood | $950,063 | $950,063 | $0 |
| Transportation | $950,000 | $950,000 | $0 |
| Labor and Employment | $500,000 | $500,000 | $0 |
| Regulatory Agencies | $202,807 | $202,807 | $0 |
| Appropriations | $155,609,792 | $155,624,624 | +$14,832 |
| Transfers out, net | $20,598,000 | $598,000 | −$20,000,000 |
Carry. What the year left in the fund at its close: PENDING
FY 2024-25: July 2024 to June 2025
Each bar is one fiscal year of DOR revenue months, July to June. Share = a destination’s dollars ÷ all distributed dollars that year CALC. Years before FY 2019-20 are drawn pale, for context.
| Destination | ShareCALC | Change from 23-24CALC | DollarsCALC |
|---|---|---|---|
| Marijuana Tax Cash Fund | 50.9% | +0.7 points | $125.3M |
| General Fund | 10.6% | +0.2 points | $26.1M |
| Local governments | 7.6% | +0.1 points | $18.6M |
| Marijuana Cash Fund | 5.2% | +0.4 points | $12.7M |
| School construction (BEST) | 17.2% | −1.6 points | $42.2M |
| State Public School Fund | 8.6% | +0.1 points | $21.1M |
| All distributed | 100.0% | $246.1M |
The local governments’ share is 7.6%, +0.1 points from FY 2023-24. The law sets it. Local governments received 10% of the gross retail marijuana sales tax through June 2025 and 3.5% in FY 2025-26. From 1 July 2026 they receive none (SB25-268 and HB26-1409) FACT
Sorted by the size of the difference. Difference = paid − final plan; percent = difference ÷ final plan CALC. Exact whole dollars in every column: the plan as JBC prints it, TOPS payments rounded to the dollar.
| Department | Final planFACT | Paid (TOPS)CALC | DifferenceCALC | %CALC |
|---|---|---|---|---|
| Human Services | $60,103,114 | $39,878,459 | −$20,224,655 | −33.6% |
| Higher EducationState colleges keep their own books; what they pay from this money may not appear in TOPS under the fund. | $10,950,000 | $3,613,656 | −$7,336,344 | −67.0% |
| Revenue | $4,608,680 | $1,213,754 | −$3,394,926 | −73.7% |
| Local Affairs | $2,243,268 | $5,040,180 | +$2,796,912 | +124.7% |
| JudicialIts plan line is an appropriation into another cash fund, the Correctional Treatment Cash Fund, so TOPS records the spending, if at all, under that fund. | $2,734,691 | none recorded | −$2,734,691 | −100.0% |
| Education | $22,206,415 | $19,534,944 | −$2,671,471 | −12.0% |
| Governor | $1,911,848 | $259,103 | −$1,652,745 | −86.4% |
| Public Safety | $7,652,371 | $6,187,842 | −$1,464,529 | −19.1% |
| Agriculture | $2,177,759 | $1,195,754 | −$982,005 | −45.1% |
| TransportationTOPS records no payment from the fund for this department in any year read; the ledger does not say why. | $950,000 | none recorded | −$950,000 | −100.0% |
| Public Health and Environment | $23,769,434 | $22,885,832 | −$883,602 | −3.7% |
| Law | $1,709,553 | $1,188,879 | −$520,674 | −30.5% |
| Early Childhood | $991,266 | $752,808 | −$238,458 | −24.1% |
| Regulatory Agencies | $202,807 | $30,000 | −$172,807 | −85.2% |
| Health Care Policy and FinancingTOPS carries no Medicaid claims, so a payment from the fund through the claims system does not appear. | $1,500,000 | $1,625,000 | +$125,000 | +8.3% |
| Labor and Employment | no plan | $240,143 | ||
| The fund | $143,711,206 | $103,646,355 | −$40,064,851 | −27.9% |
A difference is not money left unpaid. TOPS lists about three quarters of state spending, and it carries no Medicaid claims. It records a payment by journal date, not by the year it was appropriated for. $0.2M of the paid total is in departments with no plan from the fund that year. Transfers out of the fund are not payments; they are under Purpose.
Bar length is each year’s final plan in dollars. The FY 2024-25 and FY 2025-26 plans print departments only, so their overhead is not drawn apart from programs.
| Use | DollarsFACT | Share of planCALC |
|---|---|---|
| Department appropriationsThis edition prints departments only, so programs and overhead lines are not split. | $143.7M | 98.9% |
| Overhead lines | PENDING | |
| Other transfers, net | $1.6M | 1.1% |
| The final plan | $145.3M | 100.0% |
Dollars are the JBC table’s printed lines, summed CALC. A transfer is counted once, as money leaving the fund.
Change = final plan − plan at enactment CALC: what the next session changed. Exact whole dollars in every column, as JBC prints them.
| Department | At enactmentFACT | FinalFACT | ChangeCALC |
|---|---|---|---|
| Human Services | $60,125,674 | $60,103,114 | −$22,560 |
| Public Safety | $7,655,965 | $7,652,371 | −$3,594 |
| Education | $22,209,095 | $22,206,415 | −$2,680 |
| Agriculture | $2,176,641 | $2,177,759 | +$1,118 |
| Local Affairs | $2,243,102 | $2,243,268 | +$166 |
| Public Health and Environment | $23,769,434 | $23,769,434 | $0 |
| Higher Education | $10,950,000 | $10,950,000 | $0 |
| Revenue | $4,608,680 | $4,608,680 | $0 |
| Judicial | $2,734,691 | $2,734,691 | $0 |
| Governor | $1,911,848 | $1,911,848 | $0 |
| Law | $1,709,553 | $1,709,553 | $0 |
| Health Care Policy and Financing | $1,500,000 | $1,500,000 | $0 |
| Early Childhood | $991,266 | $991,266 | $0 |
| Transportation | $950,000 | $950,000 | $0 |
| Regulatory Agencies | $202,807 | $202,807 | $0 |
| Appropriations | $143,738,756 | $143,711,206 | −$27,550 |
| Transfers out, net | $1,598,000 | $1,598,000 | $0 |
Carry. What the year left in the fund at its close: PENDING
FY 2025-26: July 2025 to June 2026
Each bar is one fiscal year of DOR revenue months, July to June. Share = a destination’s dollars ÷ all distributed dollars that year CALC. Years before FY 2019-20 are drawn pale, for context.
| Destination | ShareCALC | Change from 24-25CALC | DollarsCALC |
|---|---|---|---|
| Marijuana Tax Cash Fund | 54.6% | +3.7 points | $126.4M |
| General Fund | 10.7% | +0.1 points | $24.7M |
| Local governments | 3.2% | −4.4 points | $7.3M |
| Marijuana Cash Fund | 5.6% | +0.4 points | $12.9M |
| School construction (BEST) | 17.4% | +0.3 points | $40.4M |
| State Public School Fund | 8.6% | 0.0 points | $20.0M |
| All distributed | 100.0% | $231.5M |
The local governments’ share is 3.2%, −4.4 points from FY 2024-25. The law sets it. Local governments received 10% of the gross retail marijuana sales tax through June 2025 and 3.5% in FY 2025-26. From 1 July 2026 they receive none (SB25-268 and HB26-1409) FACT
Sorted by the size of the difference. Difference = paid − final plan; percent = difference ÷ final plan CALC. Exact whole dollars in every column: the plan as JBC prints it, TOPS payments rounded to the dollar.
| Department | Final planFACT | Paid (TOPS)CALC | DifferenceCALC | %CALC |
|---|---|---|---|---|
| Human Services | $58,799,990 | $37,139,934 | −$21,660,056 | −36.8% |
| Higher EducationState colleges keep their own books; what they pay from this money may not appear in TOPS under the fund. | $7,225,000 | $3,091,891 | −$4,133,109 | −57.2% |
| Revenue | $4,559,855 | $1,086,456 | −$3,473,399 | −76.2% |
| JudicialIts plan line is an appropriation into another cash fund, the Correctional Treatment Cash Fund, so TOPS records the spending, if at all, under that fund. | $2,734,691 | none recorded | −$2,734,691 | −100.0% |
| Education | $17,241,398 | $15,711,581 | −$1,529,818 | −8.9% |
| Law | $1,709,553 | $719,806 | −$989,747 | −57.9% |
| Agriculture | $2,139,550 | $1,246,457 | −$893,093 | −41.7% |
| Public Health and Environment | $17,475,848 | $16,965,651 | −$510,197 | −2.9% |
| Health Care Policy and FinancingTOPS carries no Medicaid claims, so a payment from the fund through the claims system does not appear. | $1,500,000 | $1,050,000 | −$450,000 | −30.0% |
| TransportationTOPS records no payment from the fund for this department in any year read; the ledger does not say why. | $450,000 | none recorded | −$450,000 | −100.0% |
| Governor | $934,346 | $528,829 | −$405,517 | −43.4% |
| Public Safety | $7,490,190 | $7,737,017 | +$246,827 | +3.3% |
| Early Childhood | $1,007,612 | $851,144 | −$156,468 | −15.5% |
| Local Affairs | $1,347,314 | $1,202,723 | −$144,591 | −10.7% |
| Regulatory Agencies | $120,807 | $137,977 | +$17,170 | +14.2% |
| Labor and Employment | no plan | $43,899 | ||
| The fund | $124,736,154 | $87,513,365 | −$37,222,789 | −29.8% |
A difference is not money left unpaid. TOPS lists about three quarters of state spending, and it carries no Medicaid claims. It records a payment by journal date, not by the year it was appropriated for. $44K of the paid total is in departments with no plan from the fund that year. Transfers out of the fund are not payments; they are under Purpose.
Bar length is each year’s final plan in dollars. The FY 2024-25 and FY 2025-26 plans print departments only, so their overhead is not drawn apart from programs.
| Use | DollarsFACT | Share of planCALC |
|---|---|---|
| Department appropriationsThis edition prints departments only, so programs and overhead lines are not split. | $124.7M | 97.0% |
| Overhead lines | PENDING | |
| Other transfers, net | $3.8M | 3.0% |
| The final plan | $128.6M | 100.0% |
Dollars are the JBC table’s printed lines, summed CALC. A transfer is counted once, as money leaving the fund.
Change = final plan − plan at enactment CALC: what the next session changed. Exact whole dollars in every column, as JBC prints them.
| Department | At enactmentFACT | FinalFACT | ChangeCALC |
|---|---|---|---|
| Human Services | $58,736,106 | $58,799,990 | +$63,884 |
| Local Affairs | $1,357,514 | $1,347,314 | −$10,200 |
| Agriculture | $2,141,511 | $2,139,550 | −$1,961 |
| Public Safety | $7,488,239 | $7,490,190 | +$1,951 |
| Early Childhood | $1,009,059 | $1,007,612 | −$1,447 |
| Education | $17,242,066 | $17,241,398 | −$668 |
| Public Health and Environment | $17,475,848 | $17,475,848 | $0 |
| Higher Education | $7,225,000 | $7,225,000 | $0 |
| Revenue | $4,559,855 | $4,559,855 | $0 |
| Judicial | $2,734,691 | $2,734,691 | $0 |
| Law | $1,709,553 | $1,709,553 | $0 |
| Health Care Policy and Financing | $1,500,000 | $1,500,000 | $0 |
| Governor | $934,346 | $934,346 | $0 |
| Transportation | $450,000 | $450,000 | $0 |
| Regulatory Agencies | $120,807 | $120,807 | $0 |
| Appropriations | $124,684,595 | $124,736,154 | +$51,559 |
| Transfers out, net | $3,828,000 | $3,828,000 | $0 |
Carry. What the year left in the fund at its close: PENDING
The one actual balance read is this year’s beginning balance: $108.1M on 1 July 2025 FACT
FY 2026-27: July 2026 to June 2027. In progress.
| Destination | ShareCALC | DollarsCALC |
|---|---|---|
| Marijuana Tax Cash Fund | 55.4% | $21.3M |
| General Fund | 10.5% | $4.0M |
| Local governments | 1.3% | $0.5M |
| Marijuana Cash Fund | 5.2% | $2.0M |
| School construction (BEST) | 19.0% | $7.3M |
| State Public School Fund | 8.5% | $3.3M |
| All distributed | 100.0% | $38.3M |
The law sets it. Local governments received 10% of the gross retail marijuana sales tax through June 2025 and 3.5% in FY 2025-26. From 1 July 2026 they receive none (SB25-268 and HB26-1409) FACT
A part of a year is never set against a whole year’s plan. So this year shows what TOPS has recorded so far, the plan beside it, and no difference.
The FY 2027-28 Appropriations Report, printed after the 2027 session, will carry this year as amended. Until then there is only the plan at enactment: $124.2M.
Carry. What the year leaves in the fund at its close: PENDING
Six findings
Findings 1, 2, 3, 5 and 6 rest on the fund’s plans and payments, which this page reads for FY 2019-20 to FY 2025-26. Finding 4 rests on the Department of Revenue’s monthly reports, which start in February 2014, so it runs from the first full fiscal year.
Finding 1 · Planned vs paid
−41.9% to −24.6%
TOPS shows less paid than the final plan in every year, by these margins.
FY 2021-22 had the widest gap, −$63.3M; FY 2020-21 the narrowest, −$30.0M. A gap is not money left unpaid: TOPS lists about three quarters of state spending.
Source: final plan, JBC Staff Appropriations Reports FY 2020-21 to FY 2026-27, Marijuana Tax Cash Fund table, first column FACT. Paid: TOPS, the state’s payment ledger, every line charged to the fund, journal months July 2019 to June 2026.
Finding 2 · Plans moved
$99.7M
Planned at enactment, then taken out of that year’s plan by the next session, in 3 years.
FY 2021-22 $49.8M; FY 2022-23 $29.9M; FY 2023-24 $20.0M. Most of it is transfers to school construction FACT. FY 2021-22: enacted $100.0M, final $50.0M. FY 2022-23: enacted $30.0M, final $0. FY 2023-24: enacted $20.0M, final $0.
Source: JBC Staff Appropriations Reports FY 2020-21 to FY 2026-27, Marijuana Tax Cash Fund table. The plan at enactment is its second column; the final plan is its first.
Finding 3 · One year, to operations
$137.0M
Moved from the fund to the General Fund in FY 2020-21 (H.B. 20-1401).
The same year, $80.3M of excise tax meant for school construction went to the State Public School Fund, which pays school operating costs (H.B. 20-1418) CALC. No other final plan from FY 2019-20 to FY 2025-26 moved fund money to the General Fund. One $0.5M cut in FY 2025-26 has two destinations in two Joint Budget Committee documents.
Source: transfer lines, JBC Staff, Appropriations Report FY 2021-22, first column. Excise: DOR revenue months July 2020 to June 2021. Purpose: JBC Staff Budget Briefing FY 2026-27, Marijuana Policy Overview, p. 8.
Finding 4 · Toward the fund
56.6% → 54.6%
The fund’s share of every marijuana dollar, FY 2014-15 to FY 2025-26.
Over the whole record the fund’s share is lower than in the first full year. It fell to 46.2% in FY 2020-21 and has risen since. The local governments’ share moved to the fund: 6.1% in FY 2014-15, 3.2% in FY 2025-26, and none from 1 July 2026. The General Fund received none of it through FY 2016-17, 3.8% in FY 2017-18, and 9.3% to 10.7% in every year since CALC.
Source: Colorado Department of Revenue, Marijuana Tax Reports, state workbook, revenue months July 2014 to June 2026. Share = a destination’s dollars ÷ all distributed dollars that year.
Finding 5 · Overhead
3.7% → 5.7%
Share of the fund’s appropriations in its own overhead lines.
Lines the table names “centrally appropriated amounts” and “indirect cost assessments”: $5.8M in FY 2019-20 to $8.9M in FY 2023-24. Later editions print departments only.
Source: JBC Staff Appropriations Reports FY 2020-21 to FY 2026-27, Marijuana Tax Cash Fund table, program lines, first column FACT. Share = overhead lines ÷ appropriations.
Finding 6 · A shrinking fund
$155.9M → $124.7M
Final appropriations, FY 2019-20 to FY 2025-26.
Marijuana collections peaked in FY 2020-21 at $437.1M distributed CALC and have fallen since. FY 2026-27 is planned at $123.6M at enactment.
Source: JBC Staff Appropriations Reports FY 2020-21 to FY 2026-27, Marijuana Tax Cash Fund table, first column. Collections: DOR Marijuana Tax Reports, revenue months July to June.
Every marijuana tax and fee dollar Colorado collected, from the first month of retail sales to the latest month reported. That is revenue months February 2014 to August 2026, $3.26B in all. Line width is dollars, not adjusted for inflation.
Source: Colorado Department of Revenue, Marijuana Tax Reports, state workbook published October 2026: revenue months February 2014 to August 2026. A revenue month carries the sales of the month before.
| Destination | DollarsCALC | ShareCALC |
|---|---|---|
| Marijuana Tax Cash Fund | $1.64B | 50.2% |
| School construction (BEST) | $612.3M | 18.8% |
| State Public School Fund | $309.2M | 9.5% |
| General Fund | $259.8M | 8.0% |
| Local governments | $214.1M | 6.6% |
| Marijuana Cash Fund | $159.1M | 4.9% |
| Public School Fund (permanent) | $67.6M | 2.1% |
| All distributed | $3.26B | 100.0% |
The share of each fiscal year’s marijuana dollars that reached each destination, July to June. Has money moved toward the Marijuana Tax Cash Fund, and has more of it gone to the General Fund?
Source: Colorado Department of Revenue, Marijuana Tax Reports, state workbook published October 2026: revenue months February 2014 to August 2026. A revenue month carries the sales of the month before.
| Fiscal year | DistributedCALC | Marijuana Tax Cash Fund | School construction (BEST) | State Public School Fund | General Fund | Local governments | Marijuana Cash Fund | Public School Fund (permanent) |
|---|---|---|---|---|---|---|---|---|
| FY 2013-14 (5 months) | $23.6M | 64.3% | 12.8% | — | — | 5.7% | 17.2% | — |
| FY 2014-15 | $102.1M | 56.6% | 23.4% | — | — | 6.1% | 13.9% | — |
| FY 2015-16 | $156.7M | 56.6% | 25.5% | — | — | 6.4% | 9.8% | 1.6% |
| FY 2016-17 | $223.5M | 55.5% | 17.9% | — | — | 6.6% | 5.8% | 14.1% |
| FY 2017-18 | $263.6M | 47.7% | 15.2% | 11.4% | 3.8% | 6.5% | 4.9% | 10.5% |
| FY 2018-19 | $274.0M | 49.4% | 19.2% | 7.3% | 10.5% | 7.1% | 4.3% | 2.1% |
| FY 2019-20 | $330.9M | 47.8% | 24.4% | 7.7% | 9.6% | 6.8% | 3.6% | — |
| FY 2020-21 | $437.1M | 46.2% | 9.2% | 25.9% | 9.3% | 6.6% | 2.8% | — |
| FY 2021-22 | $378.6M | 47.0% | 25.7% | 7.7% | 9.5% | 6.8% | 3.4% | — |
| FY 2022-23 | $292.7M | 50.8% | 19.0% | 8.5% | 10.5% | 7.5% | 3.8% | — |
| FY 2023-24 | $261.6M | 50.2% | 18.8% | 8.4% | 10.4% | 7.4% | 4.7% | — |
| FY 2024-25 | $246.1M | 50.9% | 17.2% | 8.6% | 10.6% | 7.6% | 5.2% | — |
| FY 2025-26 | $231.5M | 54.6% | 17.4% | 8.6% | 10.7% | 3.2% | 5.6% | — |
| FY 2026-27 (2 months) | $38.3M | 55.4% | 19.0% | 8.5% | 10.5% | 1.3% | 5.2% | — |
What the legislature’s final plan for each fiscal year sent out of the fund. It holds money for department programs, the fund’s own overhead lines, and transfers to other funds. Bar length is dollars.
Source: JBC Staff Appropriations Reports. Editions: FY 2020-21, FY 2021-22, FY 2022-23, FY 2023-24, FY 2024-25, FY 2025-26, FY 2026-27. Table: “Summary of Appropriations and Transfers from the Marijuana Tax Cash Fund”, first column, the year as amended.
| Fiscal year | Department programs | Overhead lines | Transfers to the General Fund | Transfers to school construction (BEST) | Transfers to school operating funds | Other transfers, net | Final planFACT |
|---|---|---|---|---|---|---|---|
| FY 2019-20 | $150.2M | $5.8M | $0 | $0 | $2.5M | $0.8M | $159.2M |
| FY 2020-21 | $115.5M | $6.3M | $137.0M | $0 | $2.5M | $4.8M | $266.2M |
| FY 2021-22 | $143.5M | $7.6M | $0 | $50.0M | $0 | $5.3M | $206.5M |
| FY 2022-23 | $150.1M | $8.2M | $0 | $0 | $0 | $0.6M | $158.9M |
| FY 2023-24 | $146.7M | $8.9M | $0 | $0 | $0 | $0.6M | $156.2M |
| FY 2024-25 | $143.7M | $0 | $0 | $0 | $1.6M | $145.3M | |
| FY 2025-26 | $124.7M | $0 | $0 | $0 | $3.8M | $128.6M |
The 2012 campaign · Amendment 64
The Blue Book is what the state told voters. The campaign for Amendment 64 made its own case on television, in five 30-second ads posted to its YouTube channel in 2012. Each closes on the card PAID FOR BY THE CAMPAIGN TO REGULATE MARIJUANA LIKE ALCOHOL
FACT. One, “Vote for Colorado”, put money on screen. Its claims are set beside the Department of Revenue’s record of the taxes, February 2014 to August 2026. License fees are left out, because the ad speaks of tax revenue.
Watch on YouTube ↗
Watch on YouTube ↗
Watch on YouTube ↗
Watch on YouTube ↗
Watch on YouTube ↗
Facts set side by side, not a finding of fault.
More than $400 million annually in unregulated marijuana salesOn screen, the opening card, with “Source: Campaign estimate based on government marijuana use data”. Read 27 October 2026 from YouTube’s own still of the ad.
Marijuana tax revenues post-2017 could top $100 million annuallyOn screen, with “Source: Colorado Center on Law and Policy analysis, August 2012”
$40 million annually for public school constructionOn screen; no source printed
Colorado currently ranks 35th among states in school fundingOn screen, with “Source: Is School Funding Fair? A National Report Card, Education Law Center, June 2012”
virtually no marijuana money goes into schools’ operating budgets. DOR’s columns show some did, from FY 2017-18: $228.9M of retail sales tax to the State Public School Fund, which pays for school finance, and $80.3M of excise tax in FY 2020-21 (JBC Staff Budget Briefing FY 2023-24, Marijuana Policy Overview (14 November 2022), PDF p. 7).
let’s have marijuana tax money go to our schools rather than criminals in MexicoVoiceover, as YouTube’s automatic captions report it
regulating the sale of marijuana will allow law enforcement to direct resources towards serious crime“Safer Communities”, voiceover, as YouTube’s automatic captions report it
“Dear Mom”, “It's Time” and “Protect Veterans” make no claim about money. Two uploads each call themselves the campaign’s first television ad: “Dear Mom” (10 May 2012) and “Vote for Colorado” (6 October 2012). On YouTube we found no television ad, from either side, for Proposition AA, the 2013 measure that asked voters for the two marijuana taxes. We also found no ad against Amendment 64 that made a claim about money.