State officials have informed supporters of the initiative to regulate marijuana like alcohol in Arizona that a sufficient number of voter signatures were collected to qualify for the November ballot. The Arizona Secretary of State is expected to officially certify their petition on Thursday, at which time the initiative will be placed on the ballot as Proposition 205.
Prop 205 would allow adults 21 and older to possess limited amounts of marijuana; establish a system in which marijuana is regulated similarly to alcohol; and enact a 15 percent tax on retail marijuana sales, from which a majority of the revenue would be directed to Arizona schools and education programs. The Arizona Joint Legislative Budget Committee estimated the initiative would generate more than $123 million in annual tax revenue and license fees by 2020, including more than $55 million per year for K-12 education and full-day kindergarten programs.
The Campaign to Regulate Marijuana Like Alcohol made the announcement at a press conference on Thursday.