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1 RiversideCA.gov
1 RiversideCA.gov
CITY OF RIVERSIDE
CANNABIS BUSINESS TAX MEASURE
City Council
November 28, 2023
Community & Economic Development
RiversideCA.gov
2 BALLOT MEASURE
CITY OF RIVERSIDE CANNABIS BUSINESS TAX MEASURE :
Shall the City of Riverside adopt an ordinance
establishing a tax on all cannabis businesses at a
maximum rate of 10% of the gross receipts of each
business, potentially generating $2 million or more
dollars in revenues annually for unrestricted general
revenue purposes, until repealed by voters?
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2 RiversideCA.gov
3 Strategic Priority No. 3—Economic Opportunity
Goal 3.3: Cultivate a business climate that welcomes innovation, entrepreneurship, and investment. It also supports
Strategic Priority No. 5—High Performing Government
Goal 5.4: Achieve and maintain financial health by addressing gaps between revenues and expenditures and aligning resources with strategic priorities to yield the greatest impact.
Cross-Cutting Threads
STRATEGIC PLAN ALIGNMENT
RiversideCA.gov
4 That the City Council:
1. Adopt the attached resolution calling for a municipal election to be held March 5, 2024 for a measure entitled, "City of Riverside Cannabis Business T ax Measure" and r equesting consolidation wit h the statewide election;
2. Introduce and subsequently adopt the attached Ordin ance adding Chapter 5.78, entit led “Cannabis Business T ax,” to the Riverside Municipal Code to implement a Cannabis Business T ax, to become operative and enforceable upon approval by the voters of the City of Riv erside of the measure entitled, "City of Riverside Cannabis Business T ax Measure";
3. Consent to the Registrar of Voters rendering elect ion services to the City as requested by the City Clerk and as stated in the Memorandum of Underst anding with the County of Riverside;
4. Direct the City Clerk to transmit a copy of the measure to the City Attorney for preparation of an impartial analysis; and
5. Determine if the Mayor or Members of the City Council wish to author ballot arguments.
RECOMMENDATIONS
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