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Forget gambling, nightclubs or spas. One New Jersey lawmaker believes the future of Atlantic City may lie in pot.
Democratic Assemblyman Reed Gusciora said he will introduce a bill Thursday to let voters decide whether to make recreational use of marijuana legal only in Atlantic City.
It's called the Promoting Opportunities for Tomorrow, or POT, bill.
It would put the question on a statewide general election ballot asking whether to permit the commercial growth, sale, possession, consumption, and taxation of marijuana within the boundaries of Atlantic City by those 21 and older.
Here's a buzz kill: The pot would be taxed at 20 percent of its market price. The revenue would be shared by Atlantic City and the state.
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Atlantic City Getting a Marijuana Bailout?
Lawmakers have been searching for ways to revive Atlantic City's flagging fortunes, including severe financial problems brought on by the contraction of its casino industry. Four of the city's 12 casinos shut down in 2014, and the state is eyeing a takeover of the city's finances and major decision-making power unless it can come up with a turnaround plan in five months.
Gusciora wrote in the bill that criminalization of marijuana "is archaic and has had a disparate, harmful impact on minority communities" throughout New Jersey, including Atlantic City.
"A well-designed and heavily regulated marijuana industry would move Atlantic City's economy into the 21st century and provide extreme economic benefits to a new generation of Atlantic City residents and business interests, including existing hotels and casinos," he wrote
http://www.nbcphiladelphia.com/news/politics/Atlantic-City-Marijuana-Money-383239111.html
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