Pubdate: Fri, 08 Jan 2016
Source: San Francisco Chronicle (CA)
Copyright: 2016 Hearst Communications Inc.
Contact: http://www.sfgate.com/chronicle/submissions/#1
Website: http://www.sfgate.com/chronicle/
Details: http://www.mapinc.org/media/388
Author: Joe Garofoli

PARKER BACKS POT MEASURE

Venture capitalist Sean Parker has started backing up his promise to 
fund a campaign to legalize marijuana for adult recreational use 
California this year, dropping $500,000 of what is expected to be a 
multimillion-dollar contribution by the billionaire.

The donations by Parker, the first president of Facebook, were among 
the $1.25 million listed Thursday by the newly formed committee 
backing the measure. Drug Policy Action contributed $250,000 as did a 
group that included Weed Maps, an Orange County dispensary-locating startup.

There are several measures trying to get on the ballot, the 
Parker-backed initiative is expected to be the best funded. The 
secretary of state cleared the measure this week to begin gathering signatures.

The measure would impose a 15 percent state excise tax on retail 
sales of marijuana and a cultivation tax of $9.25 per ounce of 
flowers and $2.75 per ounce of leaves. It would exempt medical 
marijuana from some taxes. California regulators predict that it 
could bring anywhere from hundreds of millions to $1 billion in new 
revenue to the state.
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MAP posted-by: Jay Bergstrom