CHICAGO (WSIL) -- In the first twelve days of legalized cannabis use in Illinois, the state rendered 495,385 transactions, amounting to revenue from those sales of nearly 20 million dollars.
The Department of Revenue expects to have a tax revenue estimate by the end of February, when initial tax payments from dispensaries are due.
As part of the state's focus on equity, 25-percent of cannabis sales tax revenues will support the Restore, Reinvest and Renew (R3) program, which aims to address the impact of economic disinvestment, violence and the historical overuse of the criminal justice system.
“Illinois had a far more successful launch of cannabis than many of the other states that have legalized, but this is about more than money, it’s about starting a new industry in a way that includes communities left behind for far too long. Members of those communities will have the opportunity to apply for licenses to open a dispensary, become a craft grower or infuser, or transport product under the new law. Illinois is the only state in the country to take an equity-centric approach to the legalization of cannabis and I thank all those who worked hard to make the launch a success,” said Toi Hutchinson, Senior Advisor to Governor Pritzker for Cannabis Control.
On Tuesday, January 7, the Illinois Department of Agriculture opened the application process for Cannabis Infuser, Transporter and Craft Grower licenses, including social equity applicants. Licenses will be awarded to applicants by July 1.