The Economic Impact of The Legalization

What Does the Marijuana Legalization Mean for California?

California proposition 64, also known as Control, Regulate, and Tax Adult Use of Marijuana Act will go to vote in November 8th, 2016. Early reports and surveys suggest that the proposition is likely to receive considerable support as 57% of the voters have admitted they would vote for it to be passed. Medical marijuana is already legal in the state and most patients have free access to it if they have a prescription. However, recreation marijuana is still illegal and that’s what this legislation seeks to correct. What Would Happen if Proposition 64 is Passed? This proposition will bring about several changes in the already successful marijuana industry. If this proposition is passed and made into a law, it will: • Allow adults of over 21 years of age to possess and consume marijuana and hemp. • The law will also allow adults with license to cultivate and sell marijuana …

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