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Peoria to receive $100,000 from cannabis tax revenue this year

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PEORIA (HOI) -- Governor J.B. Pritzker announced Illinois has collected over $100 million in adult use cannabis tax revenue.

The Illinois Department of Revenue said at least $16.1 million of that would be directed to county and local governments.

Peoria City Manager, Patrick Urich, said the city will receive about $100,000. Due to the pandemic different streams of revenue for the city stopped coming in, but Urich said this money will help keep the city afloat.

"This has been a really rough year because of COVID-19. We saw our revenues drop well over $20 million at the local level and at the state level it hasn't been very good. Any revenue that we do see coming in is helping to keep city operations going," said Urich.

This money will go towards general funds Urich said, including public safety operations.

The city is expected to get about $400,000 next year in cannabis tax revenue. That increase will come from the local 3% percent tax addition to adult use cannabis sales, which started in July.

Paige Blanzy

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