Where does California’s cannabis tax money go?

Drug abuse prevention, public safety, protecting the environment, economic development — these were some of the visionary promises that legalized cannabis would pay for.

Now, 1 1/2 years after the start of legal sales, the lofty goals of Prop. 64 remain only partially fulfilled, deferring the dream of funding major new social programs.

In order to collect the $1 billion a year in state tax revenue promised by backers of the initiative, plus millions of dollars more for cities and counties, California needs to sell at least $7 billion worth of weed. Last year, $2.5 billion was sold.

Hampered by a slow start and strict rules required by the initiative, the state has put a regulatory structure in place. But much else is still on the drawing board. …

Click here to read the full article from the Mercury News