Legalizing Marijuana in Wyoming Could Bring Huge Profits

House Bill 209 is one of the many bills circulating the legislation currently and it would grant anyone in the state the age of 21 or above the right to recreationally possess or cultivate marijuana.

The real news here is the money that it could bring the state as the Wyoming Legislative Service Office came out with a number of 49.5 million dollars that could possibly be made from the bill.

Right now if it were to pass the excise tax on the product would be 30%.

The immense amount of money that this bill would garner would go to schools across the state. Right now the LSO is estimating that a whopping 30 million would go the School Foundation Fund.

Here’s some of the specific wording being used that House Bill 209 would grant:

• Possession of retail marijuana
  1. legal age of 21 years old
     • up to three ounces of retail marijuana that is flower
     • up to 16 ounces of retail marijuana or marijuana product that is solid product
     • up to 72 ounces ounces of retail marijuana that is liquid product
     • up to 30 grams of retail marijuana that is in the form of a marijuana concentrate
• Home cultivation
  • legal for people 21 and older to grow for personal consumption (not for sale)
    • up to 12 mature flowering female marijuana plants
    • people growing marijuana could also have up to 16 ounces of retail marijuana within their home “provided that any amount more than two and one‑half (2 1/2) ounces shall be stored in a container or area with locks or other security devices that restrict access to the container or area”

If the bill is passed, marijuana could be legal in Wyoming by July of 2021, with other procedures that would have to proceed after that.