SACRAMENTO (KCBS) – A bill passed the California State Assembly on Thursday would charge an excise tax on cannabis.READ MORE: UPDATE: News Crew Security Guard Shot in Oakland Dies From Injuries; Photo of Suspect Vehicle Released
AB 2243 from Assemblymember Jim Wood (D-Healdsburg) would impose a tax of $9.25 an ounce on cannabis flowers, $2.75 an ounce on cannabis leaves and $1.25 an ounce on immature cannabis plants.READ MORE: UPDATE: 2 Men Shot Outside South Bay High School Football Playoff Game
The tiered approach is modeled after the way alcohol is taxed based on the potency of the product.
The bill is projected to raise nearly $80 million a year. The funds would be distributed to law enforcement, local watersheds and for environmental cleanup.MORE NEWS: Motorist Arrested on Suspicion of DUI, Gun, Drug Offenses in Suisun City
The bill now heads to the state Senate.