The Oregon Cannabis Tax Act 2012 Initiative is a proposed ballot initiative which allows commercial sale of cannabis through licensed stores, as well as the personal use of marijuana by adults. In addition, the initiative plans to set aside 2% of the profits from the sale of marijuana to go toward promoting industrial hemp biodiesel, fiber, and food.
On Friday the group turned in a total of 27,401 signatures from the month of April. They hope to collect over 150,000 signatures by July 6th. In order to qualify for the November general election ballot, the group needs to turn in over 87,213 valid signatures.
Initiative sponsor Paul Stanford said, “Legalizing hemp and cannabis will create tens of thousands of new jobs, revitalize our farming communities, boost tourism, and create million of dollars in revenue for the state.”
OCTA 2012 is the third initiative in Oregon to meet the early turn-in requirement by exceeding the number of signatures required for qualification for ballot status.