Mississippi Submits Bill To Legalize Cannabis
Activists across the country have been submitting bills left and right to entered into the 2016 ballot. Mississippi is the latest to enter a bill to legalize cannabis. The ballot entitled Initiative 48 will need 107,000 signatures to place a referendum to legalize marijuana in 2016.
Initiative 48 will legalize the "production, sale and use of recreational and medical marijuana and industrial hemp," similar to Colorado. Recreational cannabis would receive a 7 percent tax rate in which all of the proceeds will be donated to Mississippi's public school system. The use and possession of marijuana will be decriminalized.
Activists believe that the legalization could bring in $17 million in tax dollars in just the first seven months! President Obama has since ordered that 1,430 pounds of cannabis be studied at the University of Mississippi on their federal marijuana farms.