With polls showing big support for California’s legalization initiative this November, an Oakland city councilmember is seeking not only tax revenues but a direct cut of profits from local cannabis businesses.
But Brooks may find it difficult to get this one passed. State Assemblyman Rob Bonta raised conflict-of-interest concerns to the San Francisco Chronicle: “If the city is an owner, it’s also a regulator. So it’s regulating itself.” East Bay Express weekly’s Legalization Nation blog, which has closely followed the development of Oakland’s cannabis industry, warns that the proposal “might run afoul of several laws—such as state medical-pot regulations that ban an entity from owning multiple cannabis licenses.”
The bill will be discussed next week in the City Council’s Public Safety Committee.
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