Faced with an $18.5-million deficit, Long Beach is considering whether to join several other California cities in seeking to make money by taxing marijuana.
The City Council voted 8 to 1 on Tuesday to hold a public hearing next month on whether to place a measure on the November ballot that would levy a 5% tax on medical marijuana collectives.
The explosive growth of pot dispensaries in recent years — and the drug’s potential legalization statewide — has presented a rare opportunity for cities desperately searching for new sources of revenue.
Full story: Marijuana: Cash-strapped Long Beach considers taxing marijuana – latimes.com