Colorado, like most states, has complicated tax law and some of it is unique. One thing is the Tax Payer's Bill of Rights,(TABOR) which requires tax revenue for any taxing district (state, county, city/town) to refund revenue in excess of that based on population growth and inflation and may be part of the budget problem this year. The total state budget is ~$27 billion of which somewhere around $75 million is state marijuana tax revenue is expected - ~ 0.28% of revenue - not much in the grand scheme of things. Looking around it seems that TABOR will require the return to taxpayers of something like $350 million. It looks like the Governor and Legislature underestimated revenue and the amount to be returned to us under TABOR, though I'm not completely sure about all this. I may be wrong, but IIRC, the marijuana revenue is supposed to go to K - 12 schools and can't be spent on anything else and cannot be used to replace normal state support for schools. The bottom line is that the arithmetic results in a projected deficit of something like ~$350 million and universities will bear a substantial part of that reduction in spending. These numbers seem to change montly.