'Florida Marijuana Ballot Measure Would Net Up To $431M In Annual Tax Revenue, Analysts For DeSantis And Lawmakers Say' - Marijuana Moment
Portfolio Pulse from Happy Mohamed
Florida's potential marijuana legalization initiative could generate between $195.6 million and $431.3 million in new sales tax revenue annually, according to estimates from the state legislature and Gov. Ron DeSantis's office. The state Financial Impact Estimating Conference (FIEC) has finalized its financial analysis, which will be provided to voters if the initiative makes the ballot. The Smart & Safe Florida campaign has collected enough signatures for ballot placement, but its language is currently being reviewed by the state Supreme Court. The marijuana company Trulieve has contributed more than $39 million to the campaign. If approved, the measure would allow existing medical cannabis companies like Trulieve to begin selling marijuana to all adults over 21.

July 17, 2023 | 1:12 pm
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If the marijuana legalization initiative is approved in Florida, Trulieve, which has already invested over $39 million in the campaign, stands to benefit significantly as it would be allowed to sell marijuana to all adults over 21.
The approval of the marijuana legalization initiative in Florida would open up a new market for Trulieve, allowing it to sell marijuana to all adults over 21. This could significantly boost the company's revenues and profitability, leading to a potential increase in its stock price.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100