Colorado pot tax for schools exceeds 2014 total by May

A year after Colorado's marijuana tax for schools came in far short of its goal, the fund is setting records and has accrued more money in the first five months in 2015 than it did for all of 2014.

The Associated Press reports the 15 percent excise tax for school construction was $3.5 million in May, bringing the 2015 total to $13.7 million. That's up from $13.3 million in all of 2014.

The report indicates the jump is due to two reasons: There are more marijuana stores now, and shops last year were given a one-time tax-exemption transfer of medical plants to the recreational business.

Read more from The Associated Press.