SACRAMENTO—Prop 19 would legalize pot for anyone 21 and older, but a new study suggests it would also drastically drop the price of weed.
The Rand Drug Policy Research Center estimates the cost per once will hurt marijuana dispensaries as it plunges from $375-bucks an once to $38-bucks. Even though the low price could mean as much as a 50-percent jump in users.
Those numbers are a kick in the states wallet since they predicted legalizing would mean more money.
In a bill by Assemblyman Tom Ammiano from San Francisco, he projected tax revenues for 650-million to 1.5 billion, but it appears that cash might not happen
Another way the state could lose money, every one of us could grow a backyard pot garden. That means a huge, cheap supply of pot.
And some dispensaries might become irrelevant, that's good news for counties that don't want them there anyway. Lanette Davies with Canna Care said, "The counties such as Placer County, El Dorado County, and Butte County who have said no we don't want to have them will be free to close those doors."
On the other hand, some busier areas might see a huge increase in business. Davies says Canna Care could become a cash cow, but she actually doesn't want to see that happen. Davies said, "Yeah, not only would be staying in business, we be making money at it...which is not what we got into this business to do."
The study also found the costs of enforcing marijuana laws is only 300-million dollars, previous reports put it at nearly 2 billion.
That's yet another way that Prop 19 will not save our state as much money as expected.