South Beloit, Ill., faces steep bills to fund its firefighter and police pensions and repave its cracked streets. Now, Mayor Ted Rehl has a plan to help cover the shortfall: marijuana. South Beloit, less than a mile from the Wisconsin state border, will welcome its first cannabis dispensary later this year. Recreational cannabis became legal in Illinois on Jan. 1 but remains illegal in Wisconsin. The Illinois town hopes to collect roughly $1 million a year in taxes on marijuana purchases, mostly by Wisconsinites.

Source: Wall Street Journal February 04, 2020 10:30 UTC