A revised budgetary analysis by the California State Board of Equalization (BOE) estimates that taxing and regulating the retail sale of cannabis by adults would raise approximately $1.4 billion in annual new state revenue.

The BOE’s estimate, released late yesterday, assesses a $50 per ounce tax on the retail sale of cannabis (among other state-imposed costs), as recommended under Assembly Bill 390: The Marijuana Control, Regulation and Education Act.  This act seeks to license and tax the commercial production, packaging, and retail sale of marijuana to those 21 years of age or older.

As introduced, AB 390 would not impose taxation or licensing requirements on the non-commercial production of cannabis (up to ten mature plants), or on the not-for-profit distribution of pot.  Further, the bill would not alter existing legislation on the use of medicinal cannabis, nor would it impose new taxes or sanctions on the medical cultivation of cannabis.

According to the BOE’s revised calculations, the enactment of AB 390 would raise an estimate $990 million annually from the proposed $50 per ounce levy on retail sales of marijuana in addition to another $392 million in yearly sales tax revenues.

The BOE assessment did not assess whether the enactment of AB 390 would reduce existing law enforcement and prosecutorial costs, which have been estimated by California NORML to average some $200 million per year.  In 2007, a record 74,000 Californians were charged with marijuana offenses – the largest total since the state ‘decriminalized’ the personal possession of small amounts of marijuana in 1976.

The BOE report acknowledged that legalizing pot for adults would likely result in a “substitution effect” where consumers gravitate toward the use of marijuana “and away from cigarettes and alcohol.”

According to a May 2009 California Field poll of 901 registered voters, 56 percent of Californians say that lawmakers should “legalize marijuana for recreational use and tax its proceeds.”  Presently, the state is facing a $26 billion budget deficit.

Assembly Bill 390 is presently before the Assembly Committees on Public Safety and Health, which are expected to take up the issue early next year.

Since then, several additional polls have confirmed that the nation’s support for legalizing marijuana has never been higher, and is fast approaching “super-majority status.”

In fact, a recent poll sponsored by Oaksterdam University indicates that support for legalization among Californians has already achieved such vaulted status (well, almost).

Today two more polls are reaffirming America’s new “marijuana Zeitgeist.”

First, in California a new Field Research Corporation poll of 901 registered voters found that 56 percent of voters agree with the statement: “Legalize marijuana for recreational use and tax its proceeds.”

According to pollsters, this is the first time ever in a California Field poll that a majority of voters have endorsed regulating the adult use of cannabis. In February, California Assemblyman Tom Ammiano introduced legislation — Assembly Bill 390: The Marijuana Control, Regulation and Education Act — to tax the commercial production and retail sale of cannabis. To date, over 8,000 NORML supporters have contacted their state representatives in support of AB 390, which is expected to be taken up by the state Assembly early next year.

Nationally, a just-released ABC News/Washington Post poll of 1,072 adults finds that a record 46 percent of all Americans now favor “legalizing the possession of small amounts of marijuana for personal use.” This total is more than double the percentage of Americans who responded affirmatively (22 percent) to a similar ABC poll question in 1997!

ABC NEWS/WASHINGTON POST POLL: HOT-BUTTON ISSUES
via ABCNews.go.com

46 percent of Americans now favor legalizing small amounts of marijuana for personal use, the most in data back to the mid-
1980s and more than double its level 12 years ago. While 52 percent remain opposed, that’s down from 75 percent in the late 1990s and 78 percent in 1986.

The biggest changes in the past two decades are 29- and 27-point advances in support for legalization among Democrats and independents, to 49 and 53 percent, respectively. The slightest: a 10-point gain among Republicans, to just 28 percent support.

So much for the myth that supporting marijuana law reform is ‘politically suicidal.’ In fact, if you are a politician — or President — whose constituency leans Democrat or Independent, it’s becoming increasingly likely that more of your supporters favor legalization over prohibition, and if you want to stay elected, you should too!