WEBVTT BOTH THE UPS AND DOWNS OF THE WEEK. SIERRA: IT’S NO SECRET THE ROLLOUT OF THE LEGAL INDUSTRY IN CALIFORNIA HAS BEEN MARKED WITH SOME GROWING PAINS. IF YOU TALK TO THE GROWERS AND SELLERS, THEY’LL TELL YOU, IT’S THE BURDENSOME TAXES AND REGULATIONS KEEPING THE INDUSTRY FROM TRULY GETTING OFF THE GROUND. WELL NOW, THEY’LL HAVE TO WAIT A BIT LONGER FOR THAT TAX BREAK FROM THE STATE. TUESDAY’S DECISION BY THE MONTEREY COUNTY BOARD OF SUPERVISORS TO SLASH TAX RATES FOR CANNABIS GROWERS AND SELLERS IN THE COUNTY, IT WAS ONE LOCAL INDUSTRY LEADERS LIKE GRUPO -- LIKE GAVIN KOGAN HAD BEEN PUSHING FOR FOR MONTHS. STARTING JULY 1, GREENHOUSES WILL BE TAXED FIVE DOLLARS PER SQUARE FOOT, ONE THIRD OF THE CURRENT TAX RATE. BUT KOGAN NOTES THOSE LOCAL TAXES AREN’T THE ONLY ONES MARIJUANA GROWERS AND SELLERS HAVE TO WORRY ABOUT. >> YOU END UP WITH ALMOST 40% BURDEN ON YOUR PRODUCT AND THE PROBLEM IS THERE ARE A LOT OF OPERATORS IN CALIORNIA THAT ARE ILLEGAL. THEY ARE NOT PAYING THAT. SIERRA: HE IS TALKING ABOUT THE BLACK MARKET, WHICH CAME UP IN SACRAMENTO THIS WEEK AFTER A STATE BILL RELATED TO LOWERING MARIJUANA TEXAS FAILED IN COMMITTEE. THE BILL WOULD HAVE LOWERED THE STATE EXCISE TAX FROM 15% TO 11% AND WOULD’VE SUSPENDED CULTIVATION TAXES ON MARIJUANA FOR THREE YEARS. >> IT WAS A LETDOWN. SIERRA: OPPONENTS OF THE BILL ARGUE IT IS TOO SOON TO SLASH TAXES WITHOUT FURTHER EVIDENCE THAT HIGH TAXES ARE TO BLAME FOR DRIVING PEOPLE TO THE BLACK MARKET IN THE FIRST PLACE. KOGAN SAYS HE’S SURE OF IT. >> AT THE END OF THE DAY IF CALIFORNIA’S CANNABIS OPERATORS FAIL, THE STATE OF CALIFORNIA FAILS. SIERRA: OF COURSE THIS IS ALL HAPPENING AS POT TAX REVENUE IS STILL BELOW PROJECTIONS FOR THE FIRST THREE MONTHS OF THE YEAR, WHICH IS ONE OF THE ARGUMENTS FOR NOT LOWERING THE TAXES. AND BOTH KOGAN AND ASSEMBLYMAN LACKEY SAY THEY ARE STILL HOPEFUL THAT A POLICY TO LOWER TAXES AT THE STATE LEVEL CAN STILL BE PASSED THIS YEAR. THAT REMAINS TO BE SEEN. CHRISTOPHER: WAIT AND SEE FOR SURE. THANK YOU. MEANWHILE, THE REDUCED TAX RATES AT THE LOCAL LEVEL HERE IN MONTEREY COUNTY ARE EXPECTED TO GO INTO EFFECT ON JULY 1. BUT THE SUPERVISORS WARN THAT THEY C