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The study estimated the tax income based on comparisons with Colorado, Nevada, Michigan, Illinois, Washington and Oregon where adult marijuana use is legal.
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The Ohio Ballot Board will meet Thursday to determine language voters will see on the ballot for two issues: one to enshrine abortion rights into the constitution, and the other to pass a law to legalize marijuana.
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The state is more than doubling the number of dispensaries where medical marijuana will be available.
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Rep. Casey Weinstein (D-Hudson) said Republican leaders in Ohio pushed to delay a legal marijuana ballot initiative to avoid an uptick in voter turnout for the November election.
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A settlement agreement to put off the ballot issue came not long after a lawsuit was filed by the marijuana legalization group disputing a ruling of the Ohio Secretary of State.
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The clock is ticking for the Ohio Legislature to pass an initiated statute to keep the issue from going to the ballot this fall.
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Gov. Mike DeWine (R-Ohio) and legislative leaders say they won't move bills to legalize marijuana
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Two conservative groups have different perspective on this issue
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The bill is the third measure to allow people to use pot for personal use proposed this year.
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After clearing this hurdle, the task of gathering hundreds of thousands of signatures begins.