A ballot initiative that aims to legalize the use of recreational marijuana in California, led by Sean Parker, a billionaire in the tech industry, was submitted to state officials on Monday. Even though the Adult Use of Marijuana Act is one of many marijuana legalization measures looking for a spot on the November 2016 ballot, it is one of the few that has had support from some very important advocate groups; because of that, it seems sure to have the financial support needed to make it onto the ballot. Let’s take a look at what would happen if voters approved of the act.

The Adult Use of Marijuana Act would allow people aged 21 or older to buy and have an ounce of marijuana on them. This also includes products infused with marijuana at licensed dispensaries. Adults would also be allowed to grow up to six plants at a time for personal recreational use. The California Department of Consumer Affairs, who already oversees the medical marijuana industry in California, would regulate the recreational market and likely use the same 15% excise tax for recreational sales. Finally, only recreation pot would be subject to state and local sales taxes.

The ballot initiative includes much of the guidelines that paved the way for California’s medical marijuana industry which Governor Jerry Brown recently passed and signed. These guidelines charge the Department of Consumer Affairs with licensed dispensaries, the Department of Food and Agriculture with keeping eyes on marijuana cultivators and the Department of Public Health with regulating testing labs. All of this would be overseen by a Bureau of Marijuana Control within Consumer Affairs. Also, the measure states that state agencies would need to begin issuing licenses by January of 2018 but does not indicate how many licenses will be available.

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