California's Forward Thinking – (Maybe)
Wednesday, March 4th, 2009
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California would become the first state in the nation to legalize marijuana for recreational use under a bill introduced Monday by Assemblyman Tom Ammiano of San Francisco. Ammiano said taxes and other fees associated with regulation could put more than a billion dollars a year into state coffers at a time when revenues continue to decline. The proposal would regulate marijuana like alcohol, with people over 21 years old allowed to grow, buy, sell and possess cannabis.
More marijuana is grown in California than any other state. As of 2006, there were over 21 million marijuana plants harvested, so it’s already the state’s biggest cash crop – it’s just not legal. NORML estimates that a legal market for marijuana could yield the state $1.5 – $2.5 billion.
California would save over $150 million in law enforcement costs for arrests, prosecutions and prison. Additional benefits would accrue from sales taxes and spin off industries. Total retail sales of marijuana would be on the order of $3-$5 billion, with total economic impact of $8-$13 billion including spin off industries such as coffeehouses, tourism, and industrial hemp. (more…)












