California legalizes recreational cannabis

The California has just legalized the recreational use of cannabis On November 8, 2016. The most populous state in the United States, with nearly 39 million residents, is expected to be a game-changer for the cannabis economy. Last night, 55.5% of voters cast their ballots in favor of Proposition 64.

What's new in California?

Starting today, all individuals who are incarcerated or under investigation for minor cannabis-related offenses will have their sentences reviewed and adapted to the new regulations. Californians will be allowed to carry 28 grams of marijuana or 8 grams of concentrates. However, consumers will be subject to penalties if they grow more than six feet of plants indoors. Outdoor marijuana growers will be subject to the rules established by local authorities.

Unlike other U.S. states, Proposition 64 prohibits counties from enacting measures against consumers. Local authorities may decide to ban the establishment of dispensaries, but personal use and cultivation may not, under any circumstances, be prohibited.

Patients with a medical license are now protected by physician-patient confidentiality. Finally, the Department of Agriculture and Food will oversee the industrial production of hemp.

One more year before I can buy weed without any hassle

While consumers can plant their seedlings right now, cannabis businesses will have to be patient. They’ll have to wait until January 1, 2018, before getting started. That said, this one-year delay will allow the State of California, through the Office of Marijuana Regulation, to properly issue recreational cannabis licenses. This means that producers, investors, and retailers of recreational cannabis can prepare with peace of mind.

In addition, the Proposition 64 is intended to prevent cannabis conglomerates from outside California from entering the market until 2023. The State of California will levy a 15 % tax on retail sales. Funds raised from these taxes will be reinvested in education and drug prevention. Proponents of the proposal anticipate a multibillion-dollar market. Tax revenue from this market is estimated at $1 billion.

Mark your calendars for January 1, 2018, when the first bag of recreational cannabis will be sold legally.

Théo Caillart