Contrary to the definition you list, which I have heard before (that, or similar versions), my understanding is that 420 derived from California Senate Bill 420 (the Medical Marijuana Program Act) which was passed by the State Senate in 2003. According to Wiki: " It clarified the scope and application of California Proposition 215, also known as the Compassionate Use Act of 1996, and established the California medical marijuana program. The bill's title is notable because "420" is a common phrase used in cannabis culture."
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