Wash.: Legal pot could bring in $2B over 5 years

SEATTLE (AP) — The state's latest financial analysis says legalizing and taxing marijuana could bring Washington as much as nearly $2 billion over the next five years — or as little as nothing.

The Office of Financial Management released its fiscal impact statement for Initiative 502 on Friday, and the results track closely with its earlier analysis, released in March.

I-502, which will be on the November ballot, would legalize pot under state law and allow its sale at state-licensed stores, with tax proceeds dedicated to education, health care and substance abuse prevention. Oregon and Colorado voters will also decide on marijuana legalization measures this fall.

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