Points
The initiative is summarized on the ballot as:
Legalizes marijuana under state law, for use by adults 21 or older.
Designates state agencies to license and regulate marijuana industry.
Imposes state excise tax of 15% on retail sales of marijuana, and state cultivation taxes on marijuana of $9.25 per ounce of flowers and $2.75 per ounce of leaves.
Exempts medical marijuana from some taxation.
Establishes packaging, labeling, advertising, and marketing standards and restrictions for marijuana products.
Prohibits marketing and advertising marijuana directly to minors.
Allows local regulation and taxation of marijuana.
Authorizes resentencing and destruction of records for prior marijuana convictions.
Read more at:
