The possibility of recreational marijuana in Florida is one step closer after the state’s highest court ruled the ballot initiative valid for November’s election.
It will need to pass by at least 60% and will still require someone to be at least 21 years of age.
Trulieve CEO Kim Rivers said on Tuesday they plan to educate people about the amendment between now and election day.
“It was really important for us to have all the signatures required in before the Supreme Court hearing, so the court really understood this was absolutely the will of the people,” Rivers said.
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The state argued in court the federal classification of the drug should be included in the wording of the amendment.
“I think when you look at the research and date, it’s really come a long way. Within the past few months, the FDA issued a research study supporting the rescheduling of marijuana at the federal level,” Rivers said.
According to campaign finance date from the Florida Department of State Division of Elections, Trulieve almost solely funded the $40 million dollars spent to help push the initiative.
While the potential for tax revenue is still unknown, a financial impact statement submitted to the state estimates as much as $200 million dollars every year.
“It’s important to realize medical right now isn’t taxed at all,” Rivers said. “There’s 21 million people in the state of Florida. There’s 138 million annual tourists, so we think this is going to be a boom for the state and tax revenue that can be reinvested into our local communities.”
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