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Oklahoma could reap major financial benefits legalizing recreational marijuana, group says

Opponents of State Question 820 argue less regulation is not what Oklahoma needs right now

Oklahoma could reap major financial benefits legalizing recreational marijuana, group says

Opponents of State Question 820 argue less regulation is not what Oklahoma needs right now

JESS THAT’S RIGHT. A LAW FIRM HAD SPECIAL OFFICES AND CANNABIS LAW ADVOCACY SAYS OKLAHOMA IS POSITIONED TO MAKE A LOT OF MONEY OFF TAX REVENUE LEVIED AGAINST LEGALIZED ADULT USE CANNABIS. BUT A GROUP AGAINST LEGALIZATION SAYS THIS COULD CAUSE MORE HARM TO THE STATE. OVER THE FIRST FIVE YEARS OF OPERATION. OUR MODEL PROJECTS THAT OKLAHOMA WILL RAISE MORE THAN $434.6 MILLION IN NEW REVENUE FROM THE 15% EXCISE TAX FROM STATE. QUESTION 820, AS WELL AS OTHER STATE AND LOCAL SALES TAXES. ANDREW LIVINGSTON IS BEHIND THIS ECONOMIC ANALYSIS. SO LEGALIZING RECREATIONAL MARIJUANA. HE SAYS HIS ANALYSIS FOUND THAT THERE WILL BE AN ECONOMIC IMPACT SEEN IN THE STATE AND NOT JUST THROUGH TAX REVENUE. THOSE THAT ARE IN ANCILLARY COMPANIES, WHETHER IT’S ATTORNEYS OR CONSTRUCTION OR PACKAGING PROVIDERS OR, YOU KNOW, COMPLIANCE OR TAX. WE’RE TALKING ABOUT $4.3 BILLION. I DON’T THINK WE NEED TO LOOK AT IT AS A REVENUE MAKER FOR OUR STATE. SO I THINK PEOPLE NEED TO GET THAT OUT OF THEIR HEAD BECAUSE I DON’T KNOW THAT WE CAN PUT A DOLLAR AMOUNT ON THE QUALITY OF LIFE FOR OUR KIDS. PROTECT OUR KIDS. NO. 820 HAS FORMED AN OPPOSITION TO THOSE PUSHING FOR LEGALIZATION. THE GROUP, LED BY A FORMER GOVERNOR, FRANK KEATING, ARGUES WITH MORE STILL NEEDED TO BE DONE WHEN IT COMES TO REGULATING MEDICAL MARIJUANA. THE LAST THING OKLAHOMA NEEDS TO DO IS EXPAND IT TO RECREATIONAL. WE HAVE SEVERAL HOMICIDES IN OUR OFFICE RIGHT NOW WHERE PEOPLE ARE ARGUING OVER THEIR MARIJUANA AND THEY END UP SHOOTING AND KILLING EACH OTHER OVER IT. NOBODY’S OUT HERE SHOOTING EACH OTHER OVER A CAUSE LIKE CLEVELAND COUNTY DISTRICT ATTORNEY GREG MASHBURN ARGUES THE WELFARE OF CHILDREN IS AT RISK IF THE STATE MOVES TO LEGALIZE ADULT USE. CANNABIS. REALLY, THAT’S KIND OF THE MOST VULNERABLE POPULATION. AND THEN WE’RE KIND OF SEEING WITH WITH THE UPTICK IN EMERGENCY ROOM VISITS BY KIDS WHO HAVE GOTTEN INTO MARIJUANA STASHES. AND THIS ISSUE STATE QUESTION 820 IS SET TO BE PART OF A SPECIAL ELECTIO
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Oklahoma could reap major financial benefits legalizing recreational marijuana, group says

Opponents of State Question 820 argue less regulation is not what Oklahoma needs right now

The group supporting the legalization of recreational marijuana in Oklahoma says the state is poised to make hundreds of millions of dollars in tax revenue. A firm specializing in cannabis law and advocates claim their data shows Oklahoma can reap major financial benefits from the legalization of adult-use marijuana. But opponents of State Question 820 argue less regulation is not what Oklahoma needs right now.| MORE | Supporters gearing up for upcoming Oklahoma special election on recreational marijuana"Over the first five years of operation, our model projects that Oklahoma will raise more than $434.6 million in new revenue from the 15% excise tax from State Question 820 as well as other state and local sales tax," said Andrew Livingston, with Vicente Sederberg LLP.Livingston, who is behind the economic analysis of legalizing recreational marijuana, says his analysis found there will be an economic impact seen in Oklahoma. And it's not just through tax revenue."Those that are in ancillary companies, whether it's attorneys or construction or packaging providers or compliance or tax, we're talking about $4.3 billion," Livingston said. Cleveland County District Attorney Greg Mashburn said money shouldn't be a deciding factor."I don't think we need to look at it as a revenue maker for our state," Mashburn said. "People need to get that out of their heads. I don't know that we can put a dollar amount on the quality of life for our kids."| MORE | Oklahomans have chance to legalize recreational marijuana in 2023Protect Our Kids - No 820 has formed in opposition to those pushing for legalization. The group, which is led by former Oklahoma Gov. Frank Keating, argues the last thing Oklahoma needs to do is expand to recreational marijuana, with more still needed to be done when it comes to regulating medical marijuana."We have several homicides in our office right now where people are arguing over their marijuana, and they end up shooting and killing each other over it," Mashburn said. "Nobody's out here shooting each other over a Coors Light."The Cleveland County District Attorney argues the welfare of children is at risk if the state moves to legalize adult-use cannabis. | MORE | Oklahomans look forward to upcoming vote after other states decide on recreational marijuana"Well, really, that's the most vulnerable population with the uptick in emergency room visits by kids who have gotten into marijuana stashes," Mashburn said.A special election for State Question 820 is set for March 7. It will need a majority vote to become law. Top HeadlinesThird round of ice brings more slick, dangerous road conditions to Oklahoma One dead after multi-vehicle crash involving semitrailers in Custer County Person dies in weather-related crash on highway in Payne County, OHP says Reward of up to $50K offered following armed robbery of USPS mail carrier in Edmond Oklahoma parent has scary warning after nearly losing 6-year-old son to strep throat Small Oklahoma town holds rich history as one of state’s original 'All Black' towns

The group supporting the legalization of recreational marijuana in Oklahoma says the state is poised to make hundreds of millions of dollars in tax revenue.

A firm specializing in cannabis law and advocates claim their data shows Oklahoma can reap major financial benefits from the legalization of adult-use marijuana. But opponents of State Question 820 argue less regulation is not what Oklahoma needs right now.

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| MORE | Supporters gearing up for upcoming Oklahoma special election on recreational marijuana

"Over the first five years of operation, our model projects that Oklahoma will raise more than $434.6 million in new revenue from the 15% excise tax from State Question 820 as well as other state and local sales tax," said Andrew Livingston, with Vicente Sederberg LLP.

Livingston, who is behind the economic analysis of legalizing recreational marijuana, says his analysis found there will be an economic impact seen in Oklahoma. And it's not just through tax revenue.

"Those that are in ancillary companies, whether it's attorneys or construction or packaging providers or compliance or tax, we're talking about $4.3 billion," Livingston said.

Cleveland County District Attorney Greg Mashburn said money shouldn't be a deciding factor.

"I don't think we need to look at it as a revenue maker for our state," Mashburn said. "People need to get that out of their heads. I don't know that we can put a dollar amount on the quality of life for our kids."

| MORE | Oklahomans have chance to legalize recreational marijuana in 2023

Protect Our Kids - No 820 has formed in opposition to those pushing for legalization. The group, which is led by former Oklahoma Gov. Frank Keating, argues the last thing Oklahoma needs to do is expand to recreational marijuana, with more still needed to be done when it comes to regulating medical marijuana.

"We have several homicides in our office right now where people are arguing over their marijuana, and they end up shooting and killing each other over it," Mashburn said. "Nobody's out here shooting each other over a Coors Light."

The Cleveland County District Attorney argues the welfare of children is at risk if the state moves to legalize adult-use cannabis.

| MORE | Oklahomans look forward to upcoming vote after other states decide on recreational marijuana

"Well, really, that's the most vulnerable population with the uptick in emergency room visits by kids who have gotten into marijuana stashes," Mashburn said.

A special election for State Question 820 is set for March 7. It will need a majority vote to become law.

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