The Regulate Marijuana Like Alcohol Act of 2012 would legalize the possession of up to an ounce or six plants (three mature plants) by people 21 or over. It would also compel the state of Colorado to come up with regulations for commercial marijuana cultivation and sales by July 1, 2013.
The campaign for the initiative is being spearheaded by two well-known, Colorado-based activist organizations, SAFER Colorado, led by Mason Tvert, and Sensible Colorado, led by Brian Vicente. The campaign estimates that legalizing and regulating marijuana would save the state $80 million a year in law enforcement costs and generate $40 billion a year in tax revenues.
Initiative organizers will have their work cut out for them. A Public Policy Polling survey of Colorado residents in December asked "in general, do you think marijuana usage should be legal or illegal," and legal won by a margin of 49% to 40%. Earlier polls had slightly higher levels of support, but the conventional wisdom among initiative experts is that initiatives should be polling at 60% or above before the campaign begins.
Still, it now appears that voters in at least two states -- Colorado and Washington -- will have the opportunity to legalize marijuana this year.