PORTLAND, Ore. – Supporters of marijuana legalization kicked off a signature campaign Monday which proposes redirecting money into Oregon’s general fund by allowing marijuana to be sold in retail stores.

The initiative petition is called the Oregon Cannabis Tax Act 2010.

OCTA proposes to redirect millions of dollars annually into Oregon's general fund through the sale of marijuana to adults over 21 years old.

The OLCC would be tasked with managing the program, which would license approved individuals to cultivate the product for sale. A portion of the marijuana grown would also be directed to registered cardholders in the Oregon Medical Marijuana Program, supporters said.

A portion of the taxes collected would go to drug treatment.

In addition, the initiative would permit cultivation of industrial hemp, which could quickly become Oregon's largest cash crop, according to supporters.

Supporters estimate that revenue generated by state-controlled cannabis sales could easily reach $300 million annually. In addition, tourism and related activities would generate at least $50 million annually, they estimate.

Campaign organizers plan to gather a minimum of 82,769 valid signatures by the deadline of 5 p.m. on July 2, 2010. If the measure is certified by the Secretary of State, it will be presented to Oregonians for a vote in November of 2010.