CA: The Money And The Marijuana

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Proposition 64 would create a 15 percent retail cannabis sales tax and a $9.25-an-ounce bud tax as well as a $2.75-an-ounce leaf tax that could raise more than $1 billion per year in tax revenue, according to the California Secretary of State legislative analysis. In turn, that revenue would be spent on the following:

  • Supporting economic development in communities disproportionately impacted by marijuana prohibition ($10 million to start, then $50 million annually).
  • Training law enforcement to recognize driving under the influence of drugs ($3,000,000 annually).
  • Medical cannabis research ($2 million annually).
  • Teen drug prevention and treatment (60 percent of remaining annual cannabis tax revenue).
  • Protecting the environment from the harms of illegal marijuana cultivation (20 percent of remaining annual cannabis tax revenue).
  • State and Local Government Law Enforcement Account (20 percent of remaining annual cannabis tax revenue).

News Moderator: Katelyn Baker
Full Article: The Money And The Marijuana
Author: Deena Drewis
Contact: (916) 498-1234
Photo Credit: Getty Images
Website: News Review