According to its official state summary, Proposition 64; “Legalizes marijuana and hemp under state law”, “Designates state agencies to license and regulate marijuana industry”, and “Imposes state excise tax on retail sales of marijuana equal to 15% of sales price, and state cultivation taxes on marijuana of $9.25 per ounce of flowers and $2.75 per ounce of leaves.”
In addition, it; “Exempts medical marijuana from some taxation. Establishes packaging, labeling, advertising, and marketing standards and restrictions for marijuana products. Allows local regulation and taxation of marijuana. Prohibits marketing and advertising marijuana to minors”, and “Authorizes resentencing and destruction of records for prior marijuana convictions.”
Recent polling shows that 60% of California voters support legalizing cannabis.
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