States Eye Windfall from Legalizing Pot
Posted at 7:11 a.m. on Aug. 11, 2014
“Oregon expects to earn anywhere from $17 million to $40 million if voters approve a measure this fall to legalize marijuana in the state, according to an official estimate published last week. The high-end number is $2 million more than a private-sector estimate commissioned by proponents of legalization and the wide range underscores the difficulty in producing such estimates,” the Washington Post reports.
“Voters in Oregon, Alaska and the District of Columbia will take up the issue of marijuana use legalization this November. If passed, they would join Colorado and Washington, where voters legalized pot for recreational use in 2012.”
“As in Washington state, where legal sales of pot began last month, Oregon’s alcohol regulator, the Liquor Control Commission, would be tasked with regulating the marijuana industry. Revenue from legal marijuana would cover the OLCC’s estimated $3.8 million in start-up costs over the first three fiscal years and the estimated $3.2 million in annual operating costs.”