Proposal to Legalize Cannabis Retail Outlets Filed in Washington D.C.

D.C. Councilmembersd.c. David Grosso, Vincent Orange, Jack Evans and Brianna K. Nadeau have filed the Marijuana Legalization and Regulation Act of 2015 (B21-0023), a proposal to legalize sales of recreational cannabis, including establishing a framework for legal cannabis retail outlets. The introduction of the proposal comes just over two months after D.C. voters overwhelmingly approved Initiative 71, a proposal that legalized cannabis possession and cultivation, though not sales.

Introduction of the proposal comes despite the recent passage of a federal spending bill that included an amendment barring the District of Columbia from spending local or federal funds to implement any law that legalizing the sale of cannabis.

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Washington State Garners $16 Million in Taxes from Legal Cannabis in 2014

With less thanmoney 100 stores operating throughout the state, and despite sales not taking starting until July, Washington State garnered over $16 million in excise taxes from over $64 million in cannabis sold in 2014, according to recent figures released by the state’s Liquor Control Board.

In total, 99 cannabis retail outlets have been licensed to sale cannabis in Washington, though not all of them are currently operating. The Liquor Control Board plans to eventually distribute licenses to 334 cannabis stores. Of the stores currently operating, New Vansterdam in Vancouver brought in the most sales, with $2,748,875 sold. Herbal Nation ($2.6 million) and Cannabis City ($2,469,905), both in Seattle, were the second and third in total sales.

Read moreWashington State Garners $16 Million in Taxes from Legal Cannabis in 2014

Bellevue, Washington Votes to Allow Legal Cannabis Sales

The city of Bellevue, the 5th largest city in Washington, has voted too allow sales of recreational cannabis through state-licensed stores whichprettybuds are expected to begin opening by the end of the year.

On Tuesday the City Council voted 5 to 2 to reject a proposed moratorium which would have placed a ban on recreational cannabis retail outlets, four of which were approved to be in Bellevue by the state’s Liquor Control Board.

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Colorado to Make $184 Million in Taxes from Recreational Cannabis in First 18 Months

A new report released by Colorado’s Joint Budget Committee has projected that the state will make over $180 million in taxes during the first 18 months of legal recreational cannabis sales.money2 The committee estimates revenue of about $610 million from retail and medical cannabis from January 1st of this year, to June 30th, 2015.

Recreational cannabis sales began in Colorado on January 1st; sales exceeded $5 million in the first week. 

Read moreColorado to Make $184 Million in Taxes from Recreational Cannabis in First 18 Months