Breaking News!!: Elections 2016: California: Voters approves initiative to legalize marijuana.
Voters in California voted to approve an initiative to legalize marijuana during the Presidential General Election 2016 held on Tuesday, November 8th, 2016.
**** California’s Proposition 64: ****
** ( “>>>>” = Winners): **
(Candidate(s) – Vote Count)
>>>> Yes 4,957,215 56.0%
– No 3,889,080 44.0%
100.0% ( 24,847 of 24,847 ) Precincts Partially Reporting.
** Source: California Secretary of State: **
California’s Proposition 64 – Marijuana Legalization Initiative Statute – will legalizes marijuana under state law, for use by adults 21 or older, imposes state taxes on sales and cultivation, and will provides for industry licensing and establishes standards for marijuana products.
California’s Proposition 64 will also allows local regulation and taxation.
The fiscal impacts from California’s Proposition 64 is additional tax revenues ranging from high hundreds of millions of dollars to over $1 billion annually, mostly dedicated to specific purposes and will reduced criminal justice costs of tens of millions of dollars annually.