A coalition that includes former Facebook President Sean Parker on Monday proposed an initiative that would legalize the recreational use of marijuana in California and place a 15% tax on retail sales of the drug.
Parker, a billionaire who also co-founded the file-sharing service Napster, plans to put millions of dollars behind the proposal, intended for the November 2016 ballot, according to those in the coalition.
“It’s very encouraging to see a vibrant community of activists … coming together around a sensible reform-based measure that protects children, gives law enforcement additional resources and establishes a strong regulatory framework for responsible adult use of marijuana — one that will yield economic benefits for all Californians,” Parker said in a statement.
Lt. Gov. Gavin Newsom endorsed the proposal, calling it a “thoughtful measure” that aligns with the recommendations of a blue-ribbon commission he created to study the legalization issue. [Read more at the Los Angeles Times]
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Notify me of follow-up comments by email.
Notify me of new posts by email.
A new association has been formed to ensure Black and other under represented communities will have an opportunity to participate in Connecticut’s new legalized recreational marijuana industry, as state legislators had promised. The Alliance for Cannabis Equity, or ACE, created by two local workforce and economic development organizations, will host various programs to help aspiring…
Australis Capital Inc. (CSE:AUSA) (OTC:AUSAF) CEO Terry Booth, who famously started Aurora Cannabis in 2006 before departing under duress in 2019, has a lot on his mind and his plate these days as he undertakes for the second time in his career the truly formidable task of steering a large cannabis venture into market relevance.…
Every cannabis and cannabis-related brand needs publicity to spread the word, boost awareness, and motivate people to buy its products and services. The challenge for businesses working in and with the cannabis industry is determining how to invest their time and marketing budgets to get publicity that actually drives the type of engagement that leads…
The hemp-derived cannabinoid market continues to grow and evolve despite lingering questions over federal legality and numerous state laws that try to keep pace. Much has been written about new “legal” hemp products that contain intoxicating delta-8 THC, delta-10 THC and THC-O Acetate. This article, however, seeks to highlight a brazen new use for familiar…