A recent report from the State Auditor says state and local governments could eventually collect as much as one-billion dollars in tax revenue a year, should Proposition 64 pass in November, which would legalize recreational marijuana. But Nevada County’s Deputy CEO, Martin Polt, says it’s way too early to tell if they’ll get a major financial boost….

click to listen to Martin Polt

Polt also points out that there could be significant regulatory costs…

click to listen to Martin Polt

Nevada County recently formed a committee with growers and other community members to come up with permanent parameters for marijuana gardens. And no dispensaries are currently allowed. Meanwhile, two groups studying the cannabis economy say legalizing recreational use of marijuana will provide a 1-point-6 billion dollar boost in revenue for California, from expanded retail sales. Their report also suggests that California will require 15-hundred to 22-hundred acres of cultivation to meet consumer demand.