Lawmakers could tap emergency fund for pot regulation
State lawmakers, scrambling to pay for regulators to oversee the nascent recreational marijuana industry, may turn to a controversial source: the state’s emergency savings account, meant only for fiscal crises.
Senate President Stanley C. Rosenberg is floating the idea of borrowing the cash and paying it back with revenue from taxes on retail pot sales after they begin in 2018. But Treasurer Deborah B. Goldberg, who will be the state’s top marijuana regulator, and Governor Charlie Baker are cold to the idea. And Speaker Robert A. DeLeo, who controls the House of Representatives where any such maneuver must begin, declined to comment on the matter Wednesday.
There is precedent for such a move. The state took $20 million from the rainy day fund after casino gambling was legalized for startup and operational costs of the Massachusetts Gaming Commission. That money was later paid back with casino license fees.
Read the complete story at BostonGlobe.com.
Don’t have a Globe subscription? Boston.com readers get a 2-week free trial.
To comment, please create a screen name in your profile
To comment, please verify your email address
Conversation
This discussion has ended. Please join elsewhere on Boston.com