Colorado: Passage Of Marijuana Legalization Measure Would Potentially Yield $60 Million In New Annual Revenue And Savings, Study Says

  • by Paul Armentano, NORML Deputy Director August 20, 2012

    The passage and enactment of a statewide marijuana ballot measure this fall could generate as much as $60 million in savings and revenue, according to a just published budgetary analysis prepared by the Colorado Center on Law & Policy.

    Amendment 64, The Regulate Marijuana Like Alcohol Act of 2012, allows for the possession of up to one ounce of marijuana and/or the cultivation of up to six cannabis plants by those age 21 and over. Longer-term, the measure seeks to establish regulations governing the commercial production and distribution of marijuana by licensed retail outlets.

    Colorado is one of three states (joining Oregon and Washington) where voters this fall will have the opportunity to substantively reform their state’s personal use cannabis laws. Four additional states — Arkansas, Massachusetts, Montana, and North Dakota — may also be voting on medical marijuana proposals in November.

    According to the CCLP report, the enactment of Amendment 64 could result in an estimated: $12 million dollars of annual savings in criminal justice costs, $24 million in excise tax revenue; $8.7 million in state sales tax revenue, $14.5 million in local tax revenue, along with the creation of several hundred new jobs.

    Their analysis projects that these savings and revenue estimates may double by 2017.

    According to an August survey from the firm Public Policy Polling, Coloradoans favor the measure by a margin of 47 percent to 38 percent. Independent voters strongly back the measure (58 percent to 28 percent) and so do Democrats (59 percent to 22 percent). By contrast, on 26 percent of Republican voters said they favored Amendment 64.

    A separate Colorado poll by Rasmussen Reports, published in June, found that 61 percent of state voters agree philosophically that cannabis ought to be regulated like alcohol or tobacco.

    Full text of the Colorado Center on Law & Policy white paper is available online here. Additional information regarding Amendment 64 and other 2012 statewide ballot initiatives is available at NORML’s ‘Smoke the Vote’ webpage here.

    54 responses to “Colorado: Passage Of Marijuana Legalization Measure Would Potentially Yield $60 Million In New Annual Revenue And Savings, Study Says”

    1. Retired Navy says:

      Don’t forgrt to mention, the added revenue that the state will get from vacationers who will chose Colorado over another state, so that they can smoke what they want without feeling like a criminal.

    2. Fireweed says:

      So only 26% of the famously regulation-hating republicans support legalizing marijuana for adult use? ironic that the same republicans that want to minimize government interference when it comes to big business (or the sacred cow,”small” business) in are perfectly happy to allow government to interfere personal choices. I don’t ever want to hear how republicans are in support of personal freedoms. Or I guess personal freedoms only go for rich white male business owners.

    3. Fireweed says:

      …and alcoholics…

    4. bud says:

      “By contrast, on[ly] 26 percent of Republican voters said they favored Amendment 64.”

      I don’t buy that. I know Paul is just reporting these numbers but they (Repubes) ain’t that dumb… are they?

    5. Dave Evans says:

      Saw a note in the paper about this Rebublican (sic) that is under the impression women’s bodies reject pregnancies in the case of rape… So yeah, they are that ignorant! Even Romney had to call this guy out on it. No one makes Rebublicans dumber than they do all on their own 🙁 Warmongers and Education Haters. The party of “duh”

    6. St. Nick says:

      RepubliCANTs are good if you like archaic dark ages type shit. Fuck, I’m sure slavery sounds like a good idea to them, and like OUTSOURCING they wouldn’t pay anything for work! Thank God for the minimum wage, although it should be like $20 an hour. Republicans are also only good if you make 1.2 million a year but they’re still greedy and evil. You’re going DOWN romney! If he wasn’t running for president I’d probably run him over in my car. It’s trying to stop an evil person from ruining the USA! I deserve a medal.

    7. St. Nick says:

      Anyone who votes republican or romney should be arrested for treason and put in the gas chamber. It’s a vote to ruin the United States. What? =D

    8. big buds says:

      WoW! I may just move to Colorado if the law passes. Bet a lot of people will move or at least vacation there bringing in more income. Be interesting to see how the feds handle that situation?

    9. St. Nick says:

      I’m just kidding about the car run over thing. I thought it was funny. I wasn’t serious. Maybe you’d believe me if I told you I am a banana or a mountain lion. I’d be Lion if I told you I was a lion. =D But I do think the United States should arrest and convict people who vote romney for treason. Just trying to make a point.
      I am a hyena. hahaha no, I’m a person who loves freedom.

    10. Luke says:

      Don’t come down on small business. If it weren’t for them, our unemployment rate would be at about 70-80%. Also, who do you think would own and run the stores selling our smoke? You got it – small business, the backbone of our Nation.