Petition For 'Marijuana Legalization Initiative Statute' Needs 365880 Signatures

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What could be a resolution to the long-running debate over medical marijuana in Los Angeles and across California took a step forward today when backers of a proposal to legalize the drug won the state’s OK to gather petition signatures needed to put the idea before voters.

If enacted, the state would see a huge financial windfall through law enforcement cost savings and the new taxation of the drug and drug businesses.

More than $100 million in law enforcement costs could be saved if the measure becomes law, according to state officials. In addition, millions would be raised by taxing the drug industry.

The “Marijuana Legalization Initiative Statute” needs 365,880 valid signatures of registered voters in the state to be placed on the November ballot next year. Those signatures must be collected no later than April 26.

The measure would legalize marijuana, create a commission to license and regulate a...

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