Medical marijuana revenues may sink with regulations
Tulsa, Okla. (KTUL) —
As medical marijuana becomes a major issue in Oklahoma, there are some questions about how revenues from sales will benefit the state.
“Medical marijuana is not supposed to be a big revenue generator. In general, State Question 788 wasn’t meant to be a big revenue boost for this state. It was meant to put medical marijuana into the hands of people who need it,” said Ryan Gentzler of the Oklahoma Policy Institute.
But now that the state board has banned smokeable medical marijuana, there is concern that profits that would have benefited schools, may not be as much.
“My understanding is that $3 to $5 million, that is what they are anticipating the cost, the annual cost of implementing the program, and then 75 percent is going to go to education,” said State Representative Eric Proctor. The other 25 percent of expected profits is supposed to go to help with substance abuse.
“It sounds great, but it is very unlikely, especially if smokeable products are not allowed. I would imagine the revenue would be extremely negligible,” said Gentzler.
Supporters of medical marijuana and State Question 788 are working on two other marijuana initiatives that would change the constitution, for medical and recreational marijuana.