Katelyn Baker
Well-Known Member
The second bill by a North Coast lawmaker seeking to tax medical marijuana has died quietly in the California Legislature, the Santa Rosa Press Democrat is reporting.
North Coast Assemblyman Jim Wood, D-Healdsburg, had authored a unique bill aiming to tax the state's booming medical marijuana market that appeared to have widespread support, passing the Assembly with a 60-12 vote and easily clearing a Senate committee a couple of months ago. But Thursday, according to the Press Democrat, the bill was shelved by the powerful Senate Appropriations Committee without comment. Making things all the bleaker for the bill's prospects of resurfacing, Wood told the Press Democrat on Friday that he wasn't given a reason for the committee's decision and that he is "hugely disappointed."
Wood's bill would have imposed an excise tax of $4.75, $9.25 or $13.25 per ounce of produced marijuana bud depending on cultivation volume, and a $1.25 per-plant levy for immature plants. The bill was expected to raise up to $80 million annually, 90 percent of which would have been earmarked for local law enforcement and environmental cleanups.
A bill by North Coast Sen. Mike McGuire that would have imposed a 10 percent sales tax on medical marijuana products died in committee in June, as we previously reported. Opponents of both bills had voiced an ethical problem with imposing revenue generating taxes on a medicine.
The apparent death of Wood's bill leaves no active medical marijuana tax bills in the Legislature this year. However, Proposition 64, the Adult Use of Marijuana Act, which seeks to legalize recreational use in California and is set to go before voters in November, does include some hefty tax provisions. Specifically, the measure would impose a $9.25 per ounce excise tax on all marijuana production and a 15 percent tax on all sales. In total, revenue from the proposition is projected to reach up to $1 billion annually.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Medical Marijuana Tax Bill Goes Up In Smoke
Author: Thadeus Greenson
Contact: North Coast Journal
Photo Credit: Shango Los
Website: North Coast Journal
North Coast Assemblyman Jim Wood, D-Healdsburg, had authored a unique bill aiming to tax the state's booming medical marijuana market that appeared to have widespread support, passing the Assembly with a 60-12 vote and easily clearing a Senate committee a couple of months ago. But Thursday, according to the Press Democrat, the bill was shelved by the powerful Senate Appropriations Committee without comment. Making things all the bleaker for the bill's prospects of resurfacing, Wood told the Press Democrat on Friday that he wasn't given a reason for the committee's decision and that he is "hugely disappointed."
Wood's bill would have imposed an excise tax of $4.75, $9.25 or $13.25 per ounce of produced marijuana bud depending on cultivation volume, and a $1.25 per-plant levy for immature plants. The bill was expected to raise up to $80 million annually, 90 percent of which would have been earmarked for local law enforcement and environmental cleanups.
A bill by North Coast Sen. Mike McGuire that would have imposed a 10 percent sales tax on medical marijuana products died in committee in June, as we previously reported. Opponents of both bills had voiced an ethical problem with imposing revenue generating taxes on a medicine.
The apparent death of Wood's bill leaves no active medical marijuana tax bills in the Legislature this year. However, Proposition 64, the Adult Use of Marijuana Act, which seeks to legalize recreational use in California and is set to go before voters in November, does include some hefty tax provisions. Specifically, the measure would impose a $9.25 per ounce excise tax on all marijuana production and a 15 percent tax on all sales. In total, revenue from the proposition is projected to reach up to $1 billion annually.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Medical Marijuana Tax Bill Goes Up In Smoke
Author: Thadeus Greenson
Contact: North Coast Journal
Photo Credit: Shango Los
Website: North Coast Journal