The Arizona Secretary of State officially certified the Regulation and Taxation of Marijuana Act ballot initiative on August 11, at which time the initiative will be placed on the November ballot as Proposition 205.
The initiative is spearheaded by The Campaign to Regulate Marijuana Like Alcohol, which will officially launch the “Yes on 205” campaign at a news conference in Phoenix on August 11. Campaign leaders will be joined by a medical doctor, a school teacher, and a 23-year veteran of the U.S. Drug Enforcement Administration (DEA). They will discuss why they support a system in which marijuana is regulated and taxed similarly to alcohol.
“Eighty-three years ago, Arizona voters approved a ballot measure to repeal the failed policy of alcohol prohibition,” said J.P. Holyoak, chairman for the Yes on 205 campaign. “This November, we will have the opportunity to end the equally disastrous policy of marijuana prohibition. Prop 205 would establish a more sensible system in which marijuana is regulated and taxed similarly to alcohol.”
If passed, Prop 205 will allow adults 21 and older to possess limited amounts of marijuana, establish a government-regulated system in which marijuana is regulated similarly to alcohol, and enact a 15-percent tax on retail marijuana sales. A majority of the tax revenue would be directed to Arizona schools and other education programs.
Arizona’s Joint Legislative Budget Committee estimates that Prop 205 would generate more than $123 million in annual tax revenue and state licensing fees by 2020, including more than $55 million per year for K-12 education and full-day kindergarten programs.