With the recent defeat of California’s Prop 19, it seems Colorado has moved to the forefront of the medical marijuana debate. A recent conference of the National Cannabis Industry Association (NCIA) met at the National Press Club in Washington, D.C. to discuss the federal government’s stance on legitimizing medical marijuana. Unlike other discussions in the past, there appears to be a new respectability on the issue that has drawn some supporters in Congress, including a local Colorado Representative.
Rep. Jared Polis (CO-D) was among several industry supporters in attendance at the NCIA event. Polis said that he and other cannabis industry supporters in Congress are in the process of preparing legislation in the weeks to come that deal with the banking and tax code issues affecting growers and distributors. Denver criminal defense lawyers familiar with Colorado medical marijuana statutes say that the projected 2011 income from cannabis market could reach $1.7 billion. The tax on that money could help fix some of the budget woes that have plagued the government since the announcement of the recession in December 2008.
To read more see Washington Times article.
