The Peach State could reap huge benefits from taxing recreational marijuana, if it decides to legalize it.
Georgia stands to earn $72.5 million from legalized recreational marijuana in extra tax revenue, according to the personal finance website NerdWallet.com.
While legal recreational marijuana isn’t expected to be a reality in Georgia anytime soon, medical marijuana is on the finger-tips of Georgia lawmakers.
After a proposal to legalize the use of cannabis oil to treat children with seizure disorders failed in the General Assembly this year, supporters vowed to reintroduce it in 2015.
The first step toward fulfilling that promise began in August when a legislative study committee held the first of five meetings planned around the state this summer and fall.
The Georgia House already passed legislation backed by Gov. Nathan Deal to legalize the manufacture of cannabis oil with an extremely low percentage of THC, the chemical that makes users high. But the bill lost its fire in the General Assembly after it was wed with a bill that required Georgia insurance companies to cover treatment of children with autism.
The study committee will hold four more meetings and make recommendations by Dec. 1.