CHARLOTTE, N.C. — Recreational marijuana could soon be legal in a small part of North Carolina. The Eastern Band of Cherokee Indians is considering recreational use on the tribe’s reservation.
Legalizing medical marijuana is something the General Assembly has debated over the years, with bills even passing both the House and Senate, but no final deal reached. It’s an industry that could bring millions of dollars to the state.
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Senate Bill 3 also known as the NC Compassionate Care Act breaks down the potential fiscal impact of legalizing medical marijuana in the state.
The bill estimates the state could make $15.1 million in the next fiscal year if medical marijuana was legalized. This would mostly come from patient and caregiver card application fees, with the state also getting 10% of the gross revenue. By 2028 that number could jump to $44.4 million.
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A Meredith poll conducted back in February shows almost 75% of respondents favored legalizing medical marijuana with majorities in every demographic supporting the effort.
Legalizing recreational marijuana could bring in even more money to the state. For example, in 2022, Colorado collected more than $325 million in cannabis tax revenue.
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