Shall the City-sponsored measure be adopted establishing a tax on cannabis businesses at the maximum rates of 25% of gross revenues or $30 / square foot of cultivation space, which will apply to illegally operating businesses and, if action is taken after December 31, 2020 to permit cannabis businesses, will apply to legally-established cannabis businesses, estimated to generate at least $3,500,000 annually in perpetuity if cannabis businesses are permitted; and prohibiting cannabis businesses through December 31, 2020?
2, Riverside County • 2018 • M
Passed
Result: 52.3% yes, 47.7% no (20,704 votes cast)
AI-generated plain-language summary
This measure established a tax on cannabis businesses in Riverside at rates up to 25% of gross revenues or $30 per square foot of cultivation space, applying to illegal operations immediately and to legal businesses if the city permits them after December 31, 2020. The measure also prohibited cannabis businesses through December 31, 2020, with estimated annual revenue of at least $3.5 million if cannabis businesses are eventually permitted.