Colorado Legalizes Recreational Marijuana and Industrial Hempselfnews Post Amendment 64 legalizes the personal use, possession, and limited home-growing of marijuana legal for adults 21 years of age and older; establishes a system in which marijuana is regulated and taxed similarly to alcohol; and allows for the cultivation, processing, and sale of industrial hemp. In particular, the law removes all legal penalties for personal possession of up to one ounce of marijuana and allows people to grow up to six marijuana plants at their home in an enclosed locked space. A study by the Colorado Center on Law and Policy found that marijuana legalization could produce more than $120 million annually in new revenue and savings within the first five years. Wholesale recreation cannabis in Colorado will be taxed at 15% with the first $40 million allocated to the Public School Capital Construction Assistance Fund. Two other states, Oregon and Washington, are also voting on similar measures. Early results showWashington state will likely legalize marijuana as well with the Yes votes leading by double digits for Initiative Measure 502. Meanwhile it appears Oregons Measure 80is headed for defeat. Massachusetts also voted by a dominant margin (63%) to legalize medical marijuana bringing the total number of medical cannabis states to 18. Read other articles by selfnews Post Here 