Marijuana law takes effect in Colorado, $70 million in tax revenue anticipated

Marijuana law takes effect in Colorado, $70 million in tax revenue anticipated

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Colorado’s new voter approved, recreational marijuana law takes effect today. Adult Colorado residents will now be able to legally purchase up to one ounce of marijuana, while visitors can purchase a quarter ounce from government approved retailers.

Colorado and Washington voters approved ballot measures in 2012, and Colorado is the first state to implement the recreational marijuana law.

According to The Huffington Post:

“In November, Colorado voters also approved a 25 percent tax on all recreational-marijuana sales. The taxes are expected to generate roughly $70 million in additional revenue for the state in 2014.

“I think it’s a success story,” said state Rep. Dan Pabon (D-Denver), who helped write the state’s marijuana law. “But I think it’s actually much broader than a marijuana success story — this is Democracy and public policy making at its best.”

Pabon also noted that the law is only as good as its enforcement, and that it will truly be tested in the months following Jan. 1.”

Other states are expected to follow Colorado and Washington’s lead with signature gathering for similar initiatives underway in California and in Oregon. A recent poll shows that support for legalization in California is running high at 60% with the state’s registered voters.

A recent report published by the American Civil Liberties Union shows that blacks are more likely to be arrested for marijuana possession than their white counterparts. Most Latino arrests have been miscounted as “white arrests” according to the same report.

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