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Discussion of Draft Cannabis Tax Ordinance and Recommendations to City Council
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Meeting Date: September 13, 2017
Contact Person/Dept: Jeff Muir/Finance Department
Phone Number: (310) 253-5865
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [] Attachments: [X]
Public Notification: (E-Mail) Meetings and Agendas - Finance Advisory Committee (09/08/17)
Department Approval: Jeff Muir, Chief Financial Officer (09/08/17)
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RECOMMENDATION
Staff recommends that the Finance Advisory Committee (FAC) discuss the Draft Cannabis Tax Ordinance and provide recommendations to staff for conveyance to the City Council.
BACKGROUND/DISCUSSION
On the September 11, 2017 City Council agenda, the City Council will be considering recommendations from the Marijuana Task Force related to potential regulations for commercial cannabis businesses. The City Council staff report contains significant background information, and has been provided as an attachment to this report.
Part of the City Council Strategic Plan includes the preparation of a cannabis tax ordinance that would ultimately need to be adopted by the voters of Culver City. The Finance Advisory Committee is to provide input on this ordinance, including recommendations for the tax rates to the City Council.
The draft cannabis tax ordinance is included as an attachment to this report. Staff will provide a brief presentation at the meeting that will include some high level estimates of potential tax revenues. Staff will be seeking input from the FAC on the ordinance, particularly as it relates to the tax rates.
ATTACHMENTS
1. City Council Staff Report for September 11, 2017
2. Draft Cannabis Tax Ordinance
MOTION
That the FAC:
1. Discuss the Draft Cannabis Tax Ordinance and provide recommendations to staff for conveyance to the City Council.