@Wisher619 Hey Boys,, my state may be getting on board!
SPRINGFIELD -- Illinois lawmakers are considering a plan to regulate and tax legal marijuana use for adults.
Legislation introduced in the House and Senate Wednesday would allow adults 21 and older to purchase marijuana legally from a business licensed by the state.
The Senate bill, SB 316, is sponsored by Senate Appropriations Committee Chairwoman Heather Steans (D-Chicago), while the House version, HB 2353, was presented by Rep. Kelly Cassidy (D-Chicago). "Marijuana prohibition is a quagmire that creates far more problems than it prevents," Cassidy said. "Several states have adopted sensible alternatives to prohibition, and it is time for Illinois to develop its own exit strategy."
Each bill would make it legal to possess, grow, and purchase limited amounts of marijuana. The state would license and regulate businesses to cultivate, process, test, and sell marijuana to adults, and it would create and enforce strict health and safety regulations, such as testing and labeling requirements and restrictions on marketing.
“Right now, all the money being spent on marijuana is going into the pockets of criminals and cartels,” Steans said. “In a regulated system, the money would go into the cash registers of licensed, taxpaying businesses. It would generate hundreds of millions of dollars per year in new revenue for our state."
The bills propose taxing marijuana at a rate of $50 per ounce at the wholesale level, and retail sales would be subject to the state's standard 6.25% sales tax. Based on current usage rates and the market price of marijuana being sold for adults' use in Colorado, the Marijuana Policy Project estimates regulated marijuana sales could generate between $349 million and $699 million per year in new revenue for Illinois