(CN) - California is poised to become the largest state in the nation to legalize recreational marijuana this November, a move the state's lieutenant governor says could trigger "a domino effect" across the nation - and voters in four other states may also help tip the dominoes.
On Election Day, California voters will decide on Proposition 64, a ballot initiative that would legalize recreational marijuana use in the state for adults at least 21 years old and tax the production and sale of cannabis.
California is one of nine states voting on proposals to legalize recreational or medical marijuana on Nov. 8. Twenty-four states and the District of Columbia have already legalized marijuana in some form.
With a population of nearly 40 million, California is the nation's largest state in terms of population and economy. It ranks as the sixth largest economy on the planet with a $2.4 trillion gross domestic product in 2015, according to the U.S. Dept. of Commerce.
In a recent interview, California Lt. Gov. Gavin Newsom, who has championed the cannabis proposal, told the PBS NewsHour that legalization in the Golden State could trigger "a domino effect" across the nation.
If approved, California's Adult Use of Marijuana Act would tax cannabis growers $9.25 per ounce for marijuana flowers and $2.75 per ounce for leaves. Retail sales of cannabis would be taxed 15 percent on top of an existing state and local sales tax of 7.5 percent.
California stands to gain $1 billion per year in tax revenue and save tens of millions of dollars in criminal justice costs for marijuana-related offenses, according to the state's independent Legislative Analyst's Office.
Polls indicate voters are likely to approve California's Proposition 64 this November, even with criticism against the proposal coming from unexpected corners of the state including the Emerald Triangle, a tri-county area in Northern California where most of the state's green crop is grown.
Hezekiah Allen, executive director of the California Growers Association, says the new law would impose a large tax burden on small businesses and allow big businesses to swoop in and cultivate cannabis on unlimited acreage within five years.
"We want to see a sustainable marketplace composed of business that are guided by a stewardship ethic, not a simple profit motive," Allen wrote in a blog post on his trade group's website. "Many do not think Proposition 64 will create the world we envision."
Dale Gieringer, director of California NORML, which advocates for marijuana legalization and reform, said his organization supports the proposed new law despite having "some misgivings."
"It's not the best initiative in the world, but on balance, we feel it advances the cause, especially because it does finally recognize the right of adults to use marijuana," Gieringer said in an interview.
One of Gieringer's biggest concerns is taxation, which he says will unduly burden medical marijuana patients. He also complains the law equates vaporizing to smoking and bans the use of marijuana in public, whether by smoke or vapor.
"Even though it's okay to smoke cigarettes on the street, it will be illegal to smoke a marijuana vaporizer on the street," Grienger said.
Currently, possessing less than an ounce of marijuana carries a $100 fine in California. The new law would reduce that penalty for those under the age of 18 to participation in a drug education program or counseling, and community service.