Posted at: 02/20/2014 8:53 AM
By: The Associated Press
SANTA FE (AP) - The House has approved a measure that calls for studying the effects of marijuana legalization in Colorado and Washington.
The nonbinding memorial passed the House 31-28 late Wednesday.
Under the measure, the Legislative Finance Committee would conduct the study and report its findings later this year. The committee will be looking specifically at state revenue and agricultural production levels as well as addiction rates and the availability of law enforcement resources.
In Colorado, taxed, legal pot sales began Jan. 1. A budget proposal released Wednesday shows Colorado's legal marijuana market is exceeding tax expectations.
Retail sales won't begin for a few months in Washington, but budget forecasters there predict that state's new legal recreational marijuana market will bring nearly $190 million to state coffers over four years starting in mid-2015.
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