CHANGES CALIFORNIA LAW TO LEGALIZE, REGULATE, AND TAX MARIJUANA. INITIATIVE STATUTE

Repeals state laws that make it a crime for people 21 years old or older to use, possess, sell, cultivate, or transport marijuana or industrial hemp, except laws that make it a crime to drive while impaired or to contribute to the delinquency of a minor. Expunges state convictions based on the repealed marijuana-related laws. Requires state and local governments to regulate and tax commercial production and sale of marijuana. Requires taxes to be spent on education, healthcare, environmental programs, public works, and state parks. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Savings in the several tens of millions of dollars annually to state and local governments on the costs of incarcerating and supervising certain marijuana offenders. Unknown but potentially major new excise, income, and sales tax revenues related to the production and sale of marijuana products