Illinois collects $62M in cannabis revenue for neighborhoods

CHICAGO (AP) — Illinois has collected $62 million from legalized marijuana sales that’s earmarked for helping minority businesses and neighborhood development, but the money hasn’t been spent yet.

The Chicago Tribune reports problems with the state’s system to hand out new cannabis business licenses and numerous requests for help as among the reasons.

Sales of recreational marijuana began in January 2020 and more than $175 million has been collected in taxes through December, according to the state’s Department of Revenue.