Oregon Daily Emerald
The proposed measure implements a graduated tax on all city residents, with the increase ranging from 0.49 percent for individuals making less than $10,000 a year to a maximum of 0.90 percent for individuals earning above $22,000. The new tax would remain in place for four years and is projected to raise $16.8 million annually.
The campaign aiming to tax and regulate marijuana through the Oregon Cannabis Tax Act (OCTA) is circulating petitions to get the measure on the ballot for November’s general election. By creating a committee to oversee the taxation and regulation of marijuana, OCTA would effectively decriminalize the cultivation, possession and personal use of marijuana in Oregon. The measure would be the first law of its kind in the nation.