May 13, 2010
By Jared Jacang Maher, Face The State
The Colorado legislature passed a bill regulating the medical marijuana industry Tuesday. Gov. Ritter has indicated he will sign it. From the text of the bill and reports by legislative staff analysts, here are some of the numbers behind the soon-to-be law:
8am-to-7pm = hours that dispensaries are allowed to be open.
$5,000 = amount of "licensing bond" that medical marijuana businesses will have to turn over to the state when applying for license
$1,800 = annual fee for a state license
$2,721,000 = revenue the state estimates it will receive next year in licensing fees
$4,771,602 = amount the state estimates it will cost to implement the new regulations
26.6 = the number of employees needed to implement the law
12 = number of "Medical Marijuana Enforcement Investigators" the state plans to hire
30 percent = the total amount of its on-hand cannabis that a medical marijuana business may purchase from or sell to another medical marijuana business
6,600 = employees the state estimates will be licensed to work for a medical marijuana business next year
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