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Washington legal cannabis (Initiative 502) Successfully Increases State Revenue to pay for Healthcare costs and reduce substance Abuse- CANNABIS UPS REVENUE FOR HEALTHCARE AND SUBSTANCE-ABUSE FULL STORY @MarketNewsFirst : https://marketnewsfirst.com/bog-news/... In November 2012, the Washington State Liquor Control Board (WSLCB) passed Initiative 502 (I-502) pursuant to a vote by the people of the State of Washington. I-502 authorized the WSLCB to regulate and tax recreational marijuana products for persons over twenty-one years of age and thereby created a new industry for growing, processing and selling of Washington State-regulated recreational marijuana products. A recent WSLCB commissioned report by the Rand organization suggests that there are currently up to 650,000 recreational marijuana users in Washington State, worth approximately $1.25 - $1.5 billion USD in annual sales, plenty of public companies are looking to capitalize on this, and Bouganville Ventures (BOG.CN) is getting traction, and looking for 2020 revenue. Washington Initiative 502 (I-502) "on marijuana reform" was an initiative to the Washington State Legislature, which appeared on the November 2012 general ballot, passing by a margin of approximately 56 to 44 percent. Originally submitted to the Washington Secretary of State during the summer of 2011, enough signatures were collected and submitted by December to meet the required 241,153 signatures, sending it to the legislature. When the legislature adjourned without action in April, Initiative 502 automatically advanced to the November 2012 general ballot. It was approved by popular vote on November 6, and took effect over the course of a year, beginning with certification no later than December 6, 2012. Along with a similar Colorado measure, Initiative 502 was credited for encouraging voter turnout of 81%, the highest in the nation. Initiative 502 defined and legalized small amounts of marijuana-related products for adults 21 and over, taxes them and designates the revenue for healthcare and substance-abuse prevention and education. As noted at RCW 69.50.101, cannabis is still classified as a Schedule I controlled substance under federal law and subject to federal prosecution under the doctrine of dual sovereignty. Possession by anyone younger than 21, possession of larger amounts, and the growing of unlicensed or unregulated marijuana remains illegal under state law. Market News First MN1.com | Be Truly Informed Catch More Cannabis News Daily at https://MarketNewsFirst.com