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Watching the JLARC presentation of their report on legalizing marijuana in Virginia.
Preview: 70 recommendations for lawmakers...
Preview: 70 recommendations for lawmakers...
The report found marijuana sales could generate $300 million in tax revenue annually for localities and the state.
Generating such revenue and fully establishing a commercial market could take two years and an $8 to 20 million dollar investment.
Generating such revenue and fully establishing a commercial market could take two years and an $8 to 20 million dollar investment.
Per the report, Black Virginians are 3.5x more likely to be arrested and convicted for marijuana possession than white Virginians -- despite the fact that Black and white Virginians report using marijuana at similar rates.
Another point on equity:
The report found that one time expungement could benefit 120,000 Virginians -- more than half of whom are Black.
The report found that one time expungement could benefit 120,000 Virginians -- more than half of whom are Black.
Local leaders in southwestern Virginia reported being more likely to prohibit commercial marijuana operations if given the option.
Most states apply a 25-30% tax rate (sales tax, plus special marijuana tax).
Report says that within that range Virginia could make up to $300 million dollars annually five years after sales begin.
Predicts about $30-60 million revenue in the first year.
Report says that within that range Virginia could make up to $300 million dollars annually five years after sales begin.
Predicts about $30-60 million revenue in the first year.
Report found a commercial market could result in up to 11k thousand new, relatively low-paid, jobs.
Jobs like bud-tenders and warehouse workers would likely pay below Virginiaâs median wage.
Jobs like bud-tenders and warehouse workers would likely pay below Virginiaâs median wage.
