California’s Voters May have Five Options Now
Ryan Allway
May 7th, 2015
Policy, Top News
Californians are gearing up for the legalization of marijuana, but analysis paralysis remains a key risk for the state, with five proposals filed with the Attorney General. The latest proposal – The 2016 California Bipartisan Decriminalization of Cannabis Act – was submitted by Jason Porter and Lara Marie Collinsworth and demonstrates just how diverse thoughts on marijuana legalization have become.
The new ballot measure would allow adults over 21 years of age to possess five pounds of marijuana (a five year supply) and permit the growing of 500 square feet of marijuana in personal residences. Unlike Oregon, cities and counties would not be able to locally ban cannabis or tax it, while existing medical marijuana collectives would automatically be permitted to sell recreational marijuana.
According to many experts, the ballot measure will need about $1 million to professionally gather signatures and then $10 million to run a successful campaign. The Collinsworths’ bill and many others haven’t filed campaign contribution statements indicating that they have these funds in place, while they could all see more competition with experts calling for more than a dozen initiatives over time.
WeedMaps’ Justin Hartfield has donated $2 million to a viable mainstream legalization proposal, consisting of $1 million into a campaign committee and $1 million into a PAC. Several other cannabis lobbyists have also started to contribute to causes, but there is growing concern that voters may become confused and apathetic with so many different options to choose from over time.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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