Indexing: Rhode Island’s marijuana bill gets it

Indexing a weight-based excise tax is a litmus test for whether tax writers are serious about revenue from marijuana.  On February 6, Legislators in Rhode Island passed the test by introducing H 5274, http://webserver.rilin.state.ri.us/BillText13/HouseText13/H5274.pdf.  Under that bill, R.I. Gen. Laws sec. 21-28.6.2-15 would provide a $50 per ounce tax — adjustable for inflation or deflation.  Rhode Island’s and Maryland’s bills get it right;  Oregon’s doesn’t.  (The latter states are the subject of previous posts.)  Credit goes to Representatives Ajello, Newberry, Bennett, Martin, and Valencia — and their staff.