Wednesday morning reps for the Marijuana Policy Project said they filed to form a campaign committee to get such an initiative on the 2016 ballot.
Fundraising is set to start immediately.
So why is now the right time, when an initiative to legalize pot failed at the polls just four years ago?
"Americans in general have been evolving quickly in marijuana policy and a majority now think it should be legal for adults. California has always been ahead of the curve and I think it's time to stop arresting adults for a substance that's no different than alcohol," said Mason Tvert, communications director for the Marijuana Policy Project.
Under the current plan for the 2016 initiative, pot would be taxed like alcohol.