The state budget office estimates legalized marijuana sales in Ohio could produced nearly $300 million in new tax revenue, most of which would go to townships, cities and counties.

The estimate by the Office of Budget and Management was based on potential marijuana sales of about $2 billion a year. New revenue would come primarily from a special excise tax on marijuana sales.

The state budget agency did the estimate based on specifics in State Issue 3, a proposed constitutional amendment by ResponsibleOhio, to legalize the sale and use of recreational marijuana for those 21 and over and medical marijuana as prescribed by a physician. The agency is required by state law to estimate costs and revenue from proposed ballot issues.

The estimate said a new state agency, the Ohio Marijuana Control Commission with 86 employees, would cost about $17.7 million annually to operate. The money would come from tax revenue from marijuana sales. [Read more at the Columbus Dispatch]