420 College Prepares for Legalization

The Los Angeles Times recently highlighted the disappointing experience of Costa Mesa, a town that had expected to benefit greatly from the legalization of marijuana in California. In the first year, 2018-2019, the city budgeted for a  $1.56 million tax windfall but instead collected $163,803. During the 2020 tax year, Costa Mesa’s budget projects cannabis tax revenues of $1.143 million but after the first six months of the year, tax revenues amounted to only $217,511. 
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The agency gave no clue whether it will remove pot from its Schedule 1 category of dangerous drugs.   Editor’s Note: In light of Huffington Post’s report (below) about the DEA’s plans to decide by mid-year whether or not marijuana’s classification should be changed from a Schedule I to a Schedule II drug, Cannabis Business Times (CBT) reached out to the Marijuana Policy Project (MPP) for the organization’s insights on what a reclassification would mean 
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