Colorado county bullish on pot starts new marijuana scholarship

Colorado county bullish on pot starts new marijuana scholarship

DENVER (AP) -- A Colorado county that boasts the world's largest outdoor marijuana farm and has been actively courting the new pot industry has approved the world's first marijuana-funded college scholarship.

Pueblo County voters approved the pot tax by a 20-point margin Tuesday. The 5 percent excise tax on marijuana growers is expected to raise about $3.5 million a year by 2020, with the money available for any high school senior in the county who attends one of two public colleges in the county.

The scholarship awards will depend on how many students apply, but county planners are projecting about 400 students a year will get scholarships of about $1,000 each per year. The awards are the world's first scholarships funded entirely by pot taxes.

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