House and Senate lawmakers this week approved legislation, Senate Bill 5605, facilitating the expungement of past low-level marijuana convictions. The legislation now awaits action by Democratic Gov. Jay Inslee, who has previously called for pardoning those with criminal records for marijuana violations.
The passage of statewide adult use marijuana laws is associated with an immediate uptick in housing prices, according to an assessment published by the online service Clever Real Estate. It reported, “Using Colorado and Washington as case studies, it’s clear that the market benefits from marijuana legalization outweigh the potential costs in terms of home values.”
The enactment of adult use marijuana regulation in Colorado and Washington is not independently linked to an increase in traffic fatalities, according to a study published this week by the National Bureau of Economic Research.
The legalization and regulation of marijuana for adults is associated with a drastic reduction in overall arrests, increased tax revenue, and is not adversely impacting public health or safety, according to a comprehensive report issued by the Drug Policy Alliance.
Revenues from Colorado’s legal cannabis industry have surpassed over a half-billion dollars since retail sales began on January 1, 2014.
Public support for marijuana legalization has surged in Washington state in the years following the enactment of legislation permitting the commercial production and retail sale of the plant.
Local and state lawmakers are considering unduly restrictive rules and regulations for marijuana home grows.
Marijuana-related tax revenue in Colorado totaled $129 million over the 12-month period ending May 31, 2016 – well exceeding initial estimates of $70 million per year. In Washington, tax revenue totaled $220 million for the 12-montyh period ending June 30, 2016. Regulators had initially projected that retail sales would bring in $162 million in new annual tax revenue. In Oregon, marijuana-related tax revenues are yielding about $4 million per month – about twice what regulators initially predicted.