It may take a long time before Kamloops recovers any costs associated with the legalization of pot.
“Kamloops doesn’t expect to see any revenue for two or three years.”
City Business License Inspector David Jones says there are many unanswered questions.
“We don’t know what each province will get. The province will obviously add its tax revenue to the provincial side when they take over for British Columbia. However, they are going to have to take a couple of years to determine what the cost is to operate and to distribute and to run the B.C cannabis distribution part of that.”
The federal government will hand over 75 per cent of the excise tax revenue to the provinces.
What we don’t know is how much the province is going to hand over to municipalities.
Pot will officially become legal October 17th.