Staff Analysis Looks At Bill To Legalize, Tax Marijuana
Californians use about 1 million pounds of marijuana a year or nearly a half-ounce for every person in the state, according to a staff analysis from the Board of Equalization.
The legislative analysis considers a proposal by Assemblyman Tom Ammiano, D- San Francisco, to legalize pot and impose a $50 per ounce fee on retail marijuana sales in California, Sacramento television station KCRA reported.
According to BOE estimates, if Ammiano's bill were enacted, it would bring about $1.4 billion into the state's coffers.
Among other finds, the report also estimated the street value of marijuana would decline 50 percent, consumption would increase 40 percent, and the $50 per ounce fee would reduce usage by 11 percent.
Board of Equalization staffers estimated 22.3 million pounds of marijuana were grown in California in 2006, and the state exports about 8.6 million pounds annually.
The BOE estimated the value of marijuana grown in California at $35.8 billion.
March 9, 2010
The report can be found at here.
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Californians Use 1 Million Pounds Of Pot Per Year