WA State takes first stab at estimating pot revenue haul

The bill was approved by the KY Senate Health and Welfare Committee, and now goes to the full Senate.

WASHINGTON:  The first estimate of tax revenue from Washington’s pot sales had to be made. And the Washington Economic and Revenue Forecast Council unveiled its first guess Wednesday. The council estimates that the state’s revenues will be $51.2 million for 2015-2017 and $138.5 million for 2017-2019. That’s just under $190 million for those four years. The Read the full article…

Medical Marijuana Sparks Hot Debate In Louisiana

The question is being raised if medical marijuana has a future in Louisiana with pot and politics starting to mix in some circles.

LOUISIANA:  Will Louisiana join 20 other states that have approved medicinal use of marijuana? Actually Louisiana already did that more than 20 years ago, but did not allow it to be dispensed to patients. That could change this year when the legislature meets. Labs are turning weed into oil and pill form for patients in Read the full article…

Legal Pot To Generate $190 Million For Washington: Report

The forecast by the Economic and Revenue Forecast Council showed that $51 million in revenue is expected for the 2015-2017 biennium from marijuana production and sales.

WASHINGTON:  Washington’s new legal recreational marijuana market is expected to bring nearly $190 million to state coffers over a four-year period starting in mid-2015, according to an economic forecast released Wednesday. The forecast by the Economic and Revenue Forecast Council showed that $51 million in revenue is expected for the 2015-2017 biennium from marijuana production Read the full article…

L.A. City Attorney Mike Feuer Takes On Marijuana With Compassion

Feuer told us he's been cracking down at a steady pace, with nearly 80 shops now targeted for civil or criminal action.

CALIFORNIA:  Former City Attorney Carmen Trutanich, who once held the opinion that no dispensary in Los Angeles was truly legal, was reviled by the local medical marijuana community. His predecessor, Democrat Mike Feuer, took Trutanich’s job, in at least some small part, because voters were fed up with the onetime Republican’s anti-dispensary crusades. So what have Read the full article…

Governor: Colorado Pot Market Exceeds Tax Hopes

The governor predicted sales and excise taxes next fiscal year would produce some $98 million, well above a $70 million annual estimate given to voters when they approved the pot taxes last year. The governor also includes taxes from medical pot, which are subject only to the statewide 2.9 percent sales tax.

COLORADO:  Colorado’s legal marijuana market is far exceeding tax expectations, according to a budget proposal released Wednesday by Gov. John Hickenlooper that gives the first official estimate of how much the state expects to make from pot taxes. The proposal outlines plans to spend some $99 million next fiscal year on substance abuse prevention, youth Read the full article…

Major Marijuana Legalization Measure Off The Table In California For 2014

"We decided it was more important to do it right than to do it fast," Stephen Gutwillig, the Drug Policy Alliance's deputy executive director, said Tuesday. "We ultimately came quite close but just decided we didn't have enough of the pieces in place right now."

CALIFORNIA: Despite polls indicating that Californians are poised to legalize pot, the state’s best shot for a marijuana measure has suddenly gone up in smoke — and that likely means the Golden State will have to wait until at least 2016 to catch up with other pot-friendly Western states. Backers of the Control, Regulate and Tax Read the full article…

WA Liquor Control Board Clarifies Next Steps In Its Preparation To Issue Marijuana Licenses

WASHINGTON:  The Washington State Liquor Control Board today approved staff’s recommendations to limit the number of individual marijuana producer licenses to one and initially limit production at 70 percent, clearing a path for the agency to begin issuing producer and processor licenses. “Today’s Board action clears an obstacle and allows the agency to begin issuing Read the full article…

Arizona Poll Shows Growing Support For Legalized Pot

A new statewide poll shows 51 percent of those asked said the drug, now authorized for those with a medical need, should be made available to all, compared with 41 percent opposed.

ARIZONA:  Arizona voters may be ready to follow the lead of Colorado and Washington residents and make marijuana use by anyone legal. A new statewide poll shows 51 percent of those asked said the drug, now authorized for those with a medical need, should be made available to all, compared with 41 percent opposed. Jim Read the full article…

The Feds’ Scary Reassurances To Banks That Deal With State-Licensed Marijuana Businesses

This Las Vegas bank is eager to do business with MMJ dispensary

DISTRICT OF COLUMBIA:  On Friday the Treasury Department and the Justice Department issued guidelines for banks that do business with state-licensed marijuana suppliers. According to Attorney General Eric Holder, the aim of the memos is to reassure financial institutions that are leery of accepting cannabusinesses as customers because they worry it will attract unwanted attention from federal regulators and prosecutors. Read the full article…

Washington State Legislators Pass Hemp Nullification Bill

Rep. Matthew Shea Gets Hemp Bill Passed in Washington State House

WASHINGTON:  State legislators in the Washington House of Representatives just voted unanimously (97:0) to approve HB1888, which effectively nullifies the federal ban on hemp within the state of Washington. State Rep. Matthew Shea (R-Spokane Valley) is the bill’s main sponsor. “This is a phenomenal bill, expanding freedom, allowing jobs to be created – a new market Read the full article…