The Florida Financial Impact Estimating Conference released a report on July 13 finding that approval of the marijuana initiative would generate between $195.6 and $431.3 million in annual state and local revenue if approved by voters.
The initiative would legalize marijuana for adults 21 years old and older. Individuals would be allowed to possess up to three ounces of marijuana (about 85 grams), with up to five grams in the form of concentrate. Existing Medical Marijuana Treatment Centers would be authorized under the initiative to sell marijuana to adults for personal use. The Legislature could provide by state law for the licensure of entities other than existing medical marijuana treatment centers to cultivate and sell marijuana products.
Smart & Safe Florida, the campaign behind the initiative, has submitted 1,013,353 valid signatures as of July 20, surpassing the required 891,523 signatures. State officials confirmed on June 1, 2023, that the campaign had submitted enough valid signatures to qualify for the ballot and had met the signature distribution requirement mandating that signatures equaling at least 8% of the district-wide vote in the last presidential election be collected from at least half (14) of the state’s 28 congressional districts.
