A referendum to legalize an adult-use cannabis market in Arkansas might be headed to the November ballot.
Responsible Growth Arkansas said it submitted a petition with 192,828 signatures, more than twice the number required, to the secretary of state’s office by Friday’s deadline.
The signatures still must be verified, a process that could take about two weeks, according to a report by the Northwest Arkansas edition of Axios.
A total of 89,151 valid signatures are required for the referendum to qualify for the ballot.
The 11-page referendum calls for recreational marijuana sales to begin March 8, 2023, using existing medical marijuana providers.
Business leaders need reliable industry data and in-depth analysis to make smart investments and informed decisions in these uncertain economic times.
Get your 2023 MJBiz Factbook now!
- 200+ pages and 50 charts with key data points
- State-by-state guide to regulations, taxes & opportunities
- Segmented research reports for the marijuana + hemp industries
- Accurate financial forecasts + investment trends
Stay ahead of the curve and avoid costly missteps in the rapidly evolving cannabis industry.
State regulators would award 40 additional store licenses via lottery by July 5, 2023, and 12 additional cultivation licenses by Nov. 8, 2023, according to the petition.
The referendum calls for a 10% retail tax on recreational marijuana products, in addition to standard local and state sales taxes.