Latest Cannabis News: August 10, 2021

Latest Cannabis News: August 10, 2021

Maxime Kot
AUGUST 10TH, 2021

Stay up to date with the latest legalization and cannabis news with the CB Advisors. Every week, we will release a snippet of what’s happening with each state in the cannabis industry. Did you miss last week? No worries – click here for last week’s cannabis news.

Medical

Connecticut: The Social Equity Council approved Thursday a list of 215 communities that will be prioritized for marijuana sales licenses and special equity programs. The council approved the list in its first meeting since legislators passed the cannabis legalization bill in the waning days of the legislative session. One of the new law’s main goals is to help communities disproportionately harmed by the war on drugs by giving those residents equitable access to a marketplace that could generate up to $40 million in annual revenue.

Source: https://ctmirror.org/2021/08/05/ct-marijuana-council-approves-communities-targeted-for-equity-programs/

 

Ohio: An effort to legalize marijuana in Ohio hit a setback Thursday. Ohio Attorney General Dave Yost rejected a summary of a law proposed by a group calling itself the Coalition to Regulate Marijuana Like Alcohol. Yost’s job was to decide whether the petition was a “fair and truthful” description of the proposed law. He cited seven deficiencies in the submitted language but said there could be more. The proposal is an initiated statute, meaning it would change state law and not the state constitution. The attorney general’s approval is the first step in a long process that could end with the November 2022 election.

Source: https://www.cincinnati.com/story/news/politics/2021/08/05/coalition-regulate-marijuana-like-alcohol-plan-rejected/5493364001/

 

 

Recreational

Illinois: The Illinois Department of Financial and Professional Regulation announced on Thursday the results of a lottery to award social equity cannabis dispensary licenses, with 55 winners chosen out of 589 applicants to operate as retailers in the state’s lucrative recreational marijuana market. The conditional licenses were awarded via the state’s Social Equity Justice Involved Lottery, which lawmakers designed to ensure that members of communities disproportionately impacted by the War on Drugs are represented in the state’s cannabis industry.

Source: https://www.forbes.com/sites/ajherrington/2021/08/06/illinois-announces-cannabis-dispensary-license-lottery-winners/?sh=27e6f4b06078

 

New Jersey: Faced with an August 21st deadline to opt out of cannabis operations or be locked into it for five years, almost half of the state’s municipalities are foregoing the immediate chance to open marijuana retail, wholesale, or manufacturing facilities— and therefore the chance to collect as much as a 2% tax and licensing fees. But the approximately 60 towns that have opted in are simply writing their own rules, hoping to be early adopters and raise enough tax revenue either from weed warehouses or stores to dramatically reduce local taxes. In Newark, the city council last week preliminarily approved cannabis operations with a slew of regulations on security, odor management, and location.

Source: https://gothamist.com/news/half-new-jersey-towns-poised-ban-cannabis-businesses

 

Vermont: The Cannabis Control Board has officially seated its full, fourteen-member advisory committee.  The advisory committee, as established by Act 164 (2020) and amended by Act 62 (2021), was created to assist the Cannabis Control Board’s mission to safely, equitably, and effectively implement and administer the laws enabling adult and medical use of cannabis in Vermont. The members come from varied backgrounds and bring their own expertise to the Committee in the areas of social justice, public health, public safety, criminal justice reform, business, medical cannabis, municipal law, and regulatory issues.  Their diverse perspectives will support the Board’s work as it begins the process of building a legal cannabis marketplace in Vermont.

Source: https://headyvermont.com/2021/08/03/vermont-cannabis-control-board-announces-advisory-committee-members/

 

 

Contact Info@thecannabisbusinessadvisors.com for more information on how to apply for a cannabis business license.

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