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Arizona Marijuana Legalization Initiative Could Raise $40+ Million For Education

Submitted by Marijuana News on Fri, 08/21/2015 - 08:45

Backers of a proposed 2016 ballot initiative to regulate and tax marijuana like alcohol estimate the measure would raise more than $40 million annually for education in Arizona. The Campaign to Regulate Marijuana Like Alcohol highlighted the potential revenue Wednesday by presenting the state with a jumbo-sized check during a “back-to-school” news conference in front of the state capitol.

“Our schools are in serious need of funding, and taxing marijuana would create a significant new revenue stream,” said State Sen. Martin Quezada, a member of the Pendergast Elementary School District Governing Board who spoke at the news conference. “Marijuana sales are going to keep taking place regardless of whether this initiative passes or fails. But only if it passes will they raise tens of millions of dollars each year for public education in Arizona.”

The proposed initiative would enact a 15% excise tax on marijuana sales from licensed retail stores...

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Region: 
Arizona

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