DENVER — The Cannabis Business Alliance has released a statement on the withdrawal of proposed Initiative 139, which would have crippled Colorado’s fledging Cannabis industry and pushed supply to the black market causing a loss in jobs and tax revenue.
“In 2012, Colorado residents showed their support of the legal Cannabis market by overwhelmingly approving Amendment 64, which requires the state to regulate the Cannabis Industry like alcohol. Proponents of Initiative 139 who were attempting to add a purity limit of 16% to the ballot in November were extremely misguided. The restrictions on Cannabis purity would have been similar to limiting the alcohol content by volume on beer, wine and liquor. It would be the equivalent of only having 3.2 beer available. The industry is thankful that common sense has prevailed,” noted Cannabis Business Alliance Executive Director Mark Slaugh.
Initiative 139, a constitutional amendment that would have forced the Colorado Legislature to set a limit of 16% or less THC in any Cannabis product sold at a state-licensed retail store, was a poorly written amendment aimed to deceive voters who just approved adult-use Cannabis sales in Colorado in 2012. This amendment would have dramatically reduced access to life altering medicine for patients including veterans suffering from PTSD and children with debilitating conditions such as epilepsy and spastic quadriplegic cerebral palsy. Bearing in mind roughly 80 percent of the state’s lawfully retailed cannabis products would be deemed illegal, Initiative 139 would have forced most cannabis companies to shut down overnight.
A recent report from the Colorado Department of Public Health and Environment found that marijuana consumption by Colorado high school students has dipped since the state first permitted recreational Cannabis use by adults. The biannual poll also showed the percentage of high school students consuming Cannabis is smaller than the national average among teens. Colorado has experienced a significant economic boost since the legalization of Cannabis, accounting for sizeable job growth and tax income for Colorado.
For more information, visit cannabisalliance.org