How Much Money Would Va Make If Weed Was Legalized

Virginia could net more than than $300 million per year in revenue enhancement revenue if the state were to legalize recreational marijuana, according to a study released Monday by Virginia's legislative watchdog agency. Co-ordinate to the report, it would take five years to reach that marking. Information technology determined that legalizing marijuana could lead to the creation of more than than 11,000 jobs and reduce arrests in the state by 84%.

Virginia could cyberspace more than $300 one thousand thousand per year in tax acquirement if the state were to legalize recreational marijuana, co-ordinate to a report released Monday past Virginia's legislative watchdog agency.

"We were directed to wait at how Virginia could legalize marijuana and create a commercial market, merely nosotros were non asked to await at if that should be done," said Mark Gribbin, an analyst with the Articulation Legislative Inspect & Review Commission.

"We conducted over 100 interviews, looked at other legalized states' laws and regulations and reviewed over 200 bookish periodical articles."

According to the report, it would take five years to accomplish that $300 1000000 mark. It adamant that legalizing marijuana could lead to the creation of more than 11,000 jobs and reduce arrests in the state by 84%, particularly amidst Blackness residents.

"Virginia could use taxation acquirement from marijuana sales to further existing community assistance programs," said Gribbin.

Gribbin noted, though, that it would not be quick or cheap for Virginia to gear up a regulatory system: "Establishing a commercial market could accept more than than ii years and cost $8-twenty million up front."

On July 1, 2020, a constabulary decriminalizing the possession of a small corporeality of marijuana took effect in Virginia, but some including Gov. Ralph Northam accept chosen for the state to go further and fully legalize the drug.

Northam said Monday he plans to propose legislation on the thing when the Virginia General Assembly convenes in Jan, saying he wants a responsible approach that promotes racial disinterestedness and preserves youth rubber.

If he gets his style, Virginia would go the first Southern state to make the drug legal for recreational use.

Northam acknowledged the process could take years, but he said that he's confident the drug will eventually be legal for personal use.