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Nevada Retail Marijuana Industry To Cost $14 Million

LAS VEGAS (AP) — Nevada officials say getting the state’s retail marijuana industry started will cost about $14 million over the next two years.

Department of Taxation Director Deonne Contine said Thursday that most of that money will be used to pay state-level personnel in charge of regulating the industry, new equipment, operating expenses and information technology needs.

About $10 million of that budget is set aside as grants that local governments can apply for to pay for local regulatory needs.

Contine says the state is moving forward with its plan to accelerate the industry by allowing medical marijuana dispensaries in good standing with the state to be able to apply for temporary recreational sales licenses.

The state hopes to begin accepting applications in May with sales beginning July 1.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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