Marijuana regulation signed into Colorado state law Tuesday

Colorado Gov. John Hickenlooper signed bills Tuesday May 28 that will regulate and tax marijuana.

Medical marijuana Acapulco gold
Medical marijuana Acapulco gold (Photo credit: Wikipedia)

“Colorado is demonstrating to the rest of the nation that it is possible to adopt a marijuana policy that reflects the public’s increasing support for making marijuana legal for adults,” said Mason Tvert, director of communications for the Marijuana Policy Project. “Marijuana prohibition is on its way out in Colorado and it is only a matter of time before many more states follow its lead.”

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According to Tvert, this is the beginning of the end for marijuana prohibition in Colorado and it is only a matter of time before more states follow its lead.

“This marks another major milestone in the process of making the much-needed transition from a failed policy of marijuana prohibition to a more sensible system of regulation,” Tvert said.

House Bill 1317 and Senate Bill 283 create the framework for regulations governing marijuana retail sales, cultivation and product manufacturing. The Colorado Dept. of Revenue has until July 1 to develop specific regulations for implementation.

HB 138 enacts a 10% special sales tax on retail sales of non-medical marijuana and a 15% excise tax on wholesale sales of non-medical marijuana. SB 24 outlines a regulatory framework for the commercial cultivation, processing and distribution of industrial hemp.

Features Editor Kate Simmons can be reached at news@collegian.com.