Well, it does legalize marijuana on the state level, and additionally taxes and regulates it. It may or may not be a de facto first step to federal deregulation.
You're probably downvoted because of "fear mongering racists" & "economic agenda." Now you're left with the "scientific term" for marijuana which is fine but off-topic (which is Prop 19, Reddit & CN).
Ytiquette is not written anywhere here, but I suppose it follows Reddiquette guidelines to some extend.
http://en.wikipedia.org/wiki/California_Proposition_19
Basically, a marijuana legalisation proposal.