This article was originally published on the Marijuana Patients Organization site on January 29, 2014.
Michigan law requires the Department of Licensing and Regulatory Affairs – which administers the states medical marijuana laws – to release a yearly report on the licenses it issues and the fees it collects. LARA recently released their report for 2013, and the figures quoted by the department show that medical marijuana has been a financial success for Michigan.
According to LARA, the state took in $10,897,580.61 in medical marijuana application and renewal fees, and spent only $4,052,782.19 administering the program – creating a surplus for the department of $6,844,798.42! In light of the financial success of the Michigan Medical Marijuana Act, LARA is currently researching the possibility of lowering fees associated with the act if the fees brought in by the law continue to far outpace the costs of administering the program.