Pot advocates finish legalization initiative

Wednesday, Jan. 6, 2010 | 1:06 p.m.

Here's what it would do, and actual initiative is at right:

The proposed initiative would allow persons at least 21 years old to purchase, possess, use and transport marijuana paraphernalia and up to one ounce of marijuana but prohibit marijuana use in public. The proposal would reduce the minimum penalty for the first offense of transferring marijuana but not for trafficking.

The proposed initiative would regulate marijuana. Counties and incorporated cities would be able to adopt certain ordinances governing marijuana retailers. The Nevada Department of Taxation would regulate the location and operation of marijuana suppliers, labeling, recordkeeping and security. The Department would issue licenses to marijuana retailers and suppliers, which may be limited in number and would not be able to operate in residential zones or within a certain distance of schools, child care facilities or houses of worship. Marijuana advertising would be prohibited. Licensees who engage in certain conduct, including selling marijuana to minors, allowing minors on their premises, permitting on-site consumption or selling adulterated marijuana, would be subject to penalties.

An excise tax of $50 per ounce would be imposed on wholesale sales of marijuana and existing sales tax would apply to retail sales. Net revenue generated under this proposal would be deposited in the State General Fund.