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Medical Marijuana Inc Reviews State of the Industry and Prospects for Future Growth
Date:2/27/2013

(D-OR) have introduced two pieces of legislation to de-federalize marijuana policy while simultaneously creating a system of federal taxation of cannabis. 

Polis' legislation titled Ending Federal Marijuana Prohibition Act would remove the DEA's authority over marijuana and turn this regulatory authority over to the States.  The States could then choose to allow marijuana – then to allow for medicinal or recreational use.

Blumenauer's Marijuana Tax Equity Act would establish a federal excise tax on marijuana sales and use.  Together these two bills would provide a system of regulation and taxation for marijuana in states where it is legal. 

Both congressmen have also co-authored a report titled: The Path Forward: Rethinking Federal Marijuana Policy which outlines opportunities to reform and clarify marijuana laws at the federal level.  A link to the document can be found here: http://polis.house.gov/uploadedfiles/the_path_forward.pdf

More information on the two Congressional Bills: http://polis.house.gov/news/documentsingle.aspx?DocumentID=318723

Marijuana Legalization Fiscal Impact
Given projections by Washington State in their Fiscal Impact Report, they estimate that the total revenue generated by the State, from marijuana legalization, could be as high as $1.9 billion over five years.  The same report estimates the annual State revenues to exceed half a billion dollars starting in FY 2015 but are expected to be about half a million dollars in FY 2013.  In effect, in two years this Washington State market is expected to grow by a factor of 1,000. 

Washington's projections include sales of cannabis only and do not account for cannabinoid-based pharmaceuticals, hemp-derived supplements, cosmeceuticals / nutraceuticals, ed
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SOURCE Medical Marijuana Inc.
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