In Tennessee, a bill to legalize recreational marijuana has been introduced in the House and Senate and passed through its first reading.
Senator Raumesh Akbari filed Senate Bill 2468 on Tuesday, the same day as State Representative Vincenrt Dixie filed House Bill 2413, a companion measure with identical language. On Wednesday the measures were “Passed on first consideration“. This procedural move allows the bills to advance to a second reading in each chamber, with a third reading required before the measure can be sent to Governor Bill Lee.
The legislation would legalize the personal possession of up to half an ounce of marijuana for those 21 and older. It would establish a system of licensed, regulated and taxed marijuana businesses that could sell marijuana and marijuana products.
Marijuana would be taxed at 12%, with tax revenue split as follows:
- Twenty percent (20%) of such moneys must be earmarked and allocated specifically and exclusively to the general fund;
- Fifty percent (50%) of such moneys must be earmarked and allocated specifically and exclusively to educational purposes; and
- Thirty percent (30%) of such moneys must be earmarked and allocated to the state general fund and credited to a special infrastructure account to be used exclusively to fund projects identified in the annual public infrastructure needs inventory compiled by the Tennessee advisory commission on intergovernmental relations.
For the full text of this legislation, click here.