Los Angeles, hoping to cash in on the public’s demonstration of support for medical marijuana, has asked its staff to write up a ballot measure imposing a tax on the industry.

While the tax would be substantially lower than the one passed in neighboring Long Beach, it would bring between $3 and $5 million per year into the city.

From EGP News Report:

The Los Angeles City Council called Wednesday for a ballot measure to tax medical marijuana, though its attorneys and other advisers seemed wary of the idea.

Voting 9-3, the council directed its attorneys to draft the ballot measure. They would have to take another vote before Nov. 17 to put the measure on the March 8 ballot.

Councilwoman Janice Hahn sought to establish a tax of $50 per $1,000 of “cash and in-kind contributions, reimbursements, and reasonable compensation provided by members of medical marijuana collectives.”

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