According to an official summary of the measure, Initiative Measure 52 “would amend the Mississippi Constitution to include the Mississippi Cannabis Freedom Act (‘the Act’). The Act legalizes cannabis for persons eighteen years of age and older, legalizes cannabis for medical purposes, authorizes the collection of taxes on cannabis, and includes various other definitions and mechanisms for implementation of the Act. For purposes of this measure, ‘cannabis’ means hemp, weed, herd, marijuana, grass, wax, concentrate extract, and hashish.”
The initiative is separate from a legalization initiative filed earlier this year by activist Kelly Jacobs of Hernando. That measure – Initiative 48 – would “legalize the use, cultivation and sale of cannabis and industrial hemp [to those 21 and older]. Cannabis related crimes would be punished in a manner similar to, or to a lesser degree, than alcohol related crimes. Cannabis sales would be taxed 7 percent. Cannabis sold for medical purposes and industrial hemp would be exempt from taxation. The governor would be required to pardon persons convicted of non-violent cannabis crimes against the state of Mississippi.”
According to state estimates, Initiative 48 would garner $17 million in revenue in the first 7 months of sales. There’s no estimate on what would be garnered under Initiative 52, as that proposal doesn’t establish a specific tax rate.