Yesterday a Nevada initiative became the first marijuana legalization measure to qualify for the 2016 ballot. Nevada Secretary of State Ross Miller said the Coalition to Regulate Marijuana Like Alcohol had submitted more than enough valid signatures to submit its initiative to voters in November 2016, assuming that the state legislature does not act on the issue before then.
Like Colorado’s Amendment 64, the Initiative to Regulate and Tax Marijuana would make it legal for adults 21 or older to possess up to an ounce, grow up to six plants at home, and transfer up to ounce at a time to other adults “without remuneration.” The initiative charges the state Department of Taxation with licensing and regulating marijuana producers, distributors, and retailers. It imposes a 15 percent excise tax on the “fair market value” of marijuana sold by growers.
– Read the entire article at Reason.