A bill to tax and regulate the production and sale of marijuana will go before the California legislature. At a press conference at his San Francisco offices -- going on right now -- California Assemblyman Tom Ammiano announced he was introducing legislation to do just that. The bill comes as the state is in the grip of a strong economic downturn and a severe fiscal crisis. Estimates of tax revenues that could be generating by regularizing the status of California's leading cash crop range from $1.5 billion to $4 billion a year. A poll by Zogby International, released last week, found majority support on the west coast for the proposed reform. I am currently at the press conference, and will post a more detailed report later today. Phil's report, including pictures from the press conference, is online here. Check back Friday morning at the same URL for a full-length Drug War Chronicle feature story.