A press conference introducing an initiative petition, the Oregon Cannabis Tax Act 2010, and its signature-gathering campaign will be held Monday, July 7th at 10 am at the campaign office, located at 105 SE 18th Avenue in Portland. All media representatives are encouraged to attend. Speakers at the press conference will include Madeline Martinez and D. Paul Stanford, co-chief petitioners for the measure.

OCTA proposes to redirect millions of dollars annually into Oregon’s general fund by permitting cannabis (marijuana) to be sold in retail stores to adults over 21 years of age. The OLCC would be tasked with managing the program, which would license approved individuals to cultivate the product for sale. A portion of the cannabis grown would also be directed to registered cardholders in the Oregon Medical Marijuana Program. A portion of the taxes collected would go to drug treatment.

In addition, the initiative would permit cultivation of industrial hemp, which could quickly become Oregon’s largest cash crop. Used for clothing, food, building materials, fuel and even plastics, hemp is in great demand but cannot be grown under current law.

Supporters estimate that revenue generated by state-controlled cannabis sales could easily reach $300 million annually. In addition, tourism and related activities would generate at least $50 million annually.

The campaign plans to gather a minimum of 82,769 valid signatures by the deadline of 5pm on July 2, 2010. After the measure has been certified by the Secretary of State, it will be presented to Oregonians for a vote in November of 2010.

For more information about the press conference or the campaign, please contact: Madeline Martinez - 503.313.9929