California’s market for recreational marijuana is expected to reach $4.4 billion by 2020, and the state’s lawmakers are considering a bill that would allow for the creation of an independent sales and distribution company.
In an effort to provide a more transparent and market-based system for the industry, California lawmakers on Monday approved a bill to create an independent agency to oversee the new recreational sales and distribute system.
The measure would create the Independent Commission on Recreational Marijuana Regulation.
The bill passed the Assembly and is headed for the Senate.
The commission would be the third independent agency in the state, following the California Department of Food and Agriculture and the California Alcoholic Beverage Control Commission.
The bill would create a commission with the sole responsibility to oversee recreational marijuana sales and marketing in the Golden State.
The independent commission would include three members, who would be appointed by the governor, the governor’s executive director, and two members appointed by county supervisors, and would have to submit to the state Department of Finance.
The measure passed the Senate on Monday by a vote of 23-13.
The Assembly passed the bill on Tuesday by a 17-5 vote, with three Republicans voting no.