Mar 25, 2015
Earlier this month, a bill to regulate and tax marijuana similarly to alcohol was introduced in the Rhode Island legislature.
The Marijuana Regulation, Control, and Taxation Act, introduced by Sen. Joshua Miller (D-Cranston) and Rep. Scott Slater (D-Providence), would allow adults 21 and older to possess up to one ounce of marijuana and grow one mature marijuana plant in an enclosed, locked space. It would create a tightly regulated system of licensed marijuana retail stores, cultivation facilities, and testing facilities and direct the Department of Business Regulation to create rules regulating security, labeling, and health and safety requirements. It would also establish wholesale excise taxes at the point of transfer from the cultivation facility to a retail store, as well as a special sales tax on retail sales to consumers.
Huffington Post reports:
A 2014 poll found 52 percent in favor of changing marijuana laws, mirroring national trends. This is the fourth year that legislation to regulate and tax recreational marijuana has been introduced. It's unclear whether state lawmakers will support the new measure.
Legalized marijuana would boost the state treasury by $58 million a year in taxes, the Marijuana Policy Project projected.
"We want Rhode Island to be a leader on the East Coast and become an early adopter in order to get a competitive edge in the regional market to maximize job creation, tax revenue, and business growth in our state," Jared Moffat, director of the marijuana policy reform group Regulate Rhode Island, told The Huffington Post.