On Thursday, state officials informed the supporters of The Initiative to Regulate Marijuana Like Alcohol in Arizona that the initiative has qualified for this November’s ballot as Proposition 205. In less than three months, the people of Arizona will determine whether to end marijuana prohibition and regulate marijuana in a manner similar to alcohol.
Eighty-three years ago, Arizona voters approved a ballot measure to repeal the failed policy of alcohol prohibition,” said J.P. Holyoak, chairman of the Yes on 205 campaign. “This November, we will have the opportunity to end the equally disastrous policy of marijuana prohibition. Prop 205 would establish a more sensible system in which marijuana is regulated and taxed similarly to alcohol.
Prop 205 would allow adults 21 and older to possess limited amounts of marijuana; establish a system in which marijuana is regulated similarly to alcohol; and enact a 15 percent tax on retail marijuana sales, from which a majority of the revenue would be directed to Arizona schools and education programs. The Arizona Joint Legislative Budget Committee estimated the initiative would generate more than $123 million in annual tax revenue and license fees by 2020, including more than $55 million per year for K-12 education and full-day kindergarten programs.
For more information, visit http://RegulateMarijuanaAZ.org.