Latest Cannabis News: January 11, 2022

Latest Cannabis News: January 11, 2022

Maxime Kot
JANUARY 11TH, 2022

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.

CBD

Indiana: An Indiana lawmaker has drafted a proposal to legalize medical cannabis. Greg Taylor (D-Indianapolis) filed five proposals this week, including Senate Bill 231. SB 231 would establish a medical marijuana program, permitting caregivers and patients who have received a physician recommendation to possess a certain among of marijuana for treatment of certain medical conditions. “Hoosiers, especially our Veterans living with chronic pain, shouldn’t be forced to move to our neighboring states just so they can receive medical treatment to address issues that medical cannabis has been shown to help with,” said Taylor. “We demand justice for them now, and that’s why I’m introducing SB 231.”

Taylor’s bill would establish a regulatory agency to oversee a medical marijuana program.

Source: https://www.eaglecountryonline.com/news/local-news/indiana-lawmaker-files-medical-marijuana-bill/

 

Iowa: Iowa Democratic senators on Wednesday released the text of a joint resolution to put the question of marijuana legalization before voters on the state’s ballot.

The proposed constitutional amendment says that “the possession, growth, cultivation, processing, manufacture, preparation, packaging, transferal, consumption, and retail sale and purchase of cannabis, or products created from or including cannabis, by persons 21 years of age or older, shall be lawful.”

Sens. Joe Bolkcom (D), Janet Petersen (D) and Sarah Trone Garriott (D), who first unveiled their marijuana reform plan last month, say inaction on the issue in the GOP-controlled legislature meant they needed to pursue the alternative route to end prohibition.

Source: https://www.marijuanamoment.net/iowa-democrats-unveil-marijuana-resolution-to-put-legalization-on-ballot-for-voters-to-decide/

Medical

New Hampshire:  The New Hampshire House has again voted to legalize the personal use and cultivation of small amounts of marijuana.

The bill sent to the Senate on Thursday would allow adults to possess up to ¾ of an ounce of marijuana and to grow up to six plants. It could be traded or given away or not sold.

North Dakota A similar bill passed the House in 2020 but died in the Senate, as did a broader bill in 2019 that would have created a regulated and taxed retail market.

Source: https://www.sfgate.com/news/article/New-Hampshire-House-again-passes-marijuana-16754636.php

 

South Dakota: South Dakota lawmakers will continue their debate on adult-use cannabis legalization and fine-tuning the state’s medical cannabis program when the 2022 legislative session starts Jan. 11.More than two dozen of the 38 posted proposed bills for the session focus on cannabis, according to an AP News report.

South Dakota voters made history in the 2020 election when they approved measures to legalize both medical and adult-use cannabis, but the state’s Supreme Court overturned the adult-use initiative in November 2021.

Source: https://www.cannabisbusinesstimes.com/article/adult-use-cannabis-debate-continues-south-dakota-2022/

 

Recreational

California: California officials announced on Wednesday that the state has awarded $100 million in funding to help develop local marijuana markets, in part by getting cannabis businesses fully licensed. The state Department of Cannabis Control (DCC) distributed the funds to 17 cities and counties where there are a disproportionate number of provisional marijuana licenses, rather than full-year licenses. The department first announced that applications for the Local Jurisdiction Assistance Grant Program had opened in October.

Provisional licenses were allowed to be granted to business applicants as a way to more quickly stand up the adult-use market, and that temporary licensing category was set to expire on January 1 but was extended through the passage of legislation last year to give localities more time to complete the permitting process and meet environmental requirements.

Now the state is aiming to give those jurisdiction an added boost with the grant funding.

Source: https://www.marijuanamoment.net/california-awards-100-million-to-support-local-marijuana-business-development/

 

Connecticut: Connecticut regulators announced last Tuesday that they will start accepting certain marijuana business license applications at the beginning of next month. The news follows a meeting of the state’s Social Equity Council (SEC), where members approved a technical assistance plan for the cannabis industry that will involve outreach and providing resources to people interested in participating in the market. The decision means that the state Department of Consumer Protection (DCP) will soon be able to accept cannabis business applications, though the timeline for each type of licensee varies. There will be two separate lotteries: a general lottery and a social equity lottery.

The first applications will open for social equity applicants on February 3 and last 90 days. SEC will ensure that those selected through that lottery meet the right standards, which means there must be at least 65 percent ownership or control of the business by people who “meet the income and residency requirements for a social equity applicant outlined in the law,” DCP said in a press release. People who fall under the “Disproportionately Impacted Areas” category can also pay a $3 million fee to get a cultivator license without going through the lottery.

For those in the general lottery category—which involves licensing for retailers, micro-cultivators, delivery services, transporters and more—there will also be a 90-day application period starting at different times from February 3 through March 24. Regulators say there will likely be a second lottery period for most license types in the second half of 2022.

Source: https://www.marijuanamoment.net/connecticut-marijuana-business-license-applications-will-be-accepted-starting-next-month-officials-announce/

 

Michigan: Michigan has collected about $271 million in legal, adult-use marijuana tax revenue since 2019, according to a new report from the Marijuana Policy Project that analyzed tax revenue in states with adult-use cannabis since 2014.

In March 2021, the Michigan Treasury described what adult-use cannabis taxes collected in fiscal year 2020 will fund:

“[a]side from the nearly $10 million in disbursements to municipalities and counties, around $11.6 million will be sent to the School Aid Fund for K-12 education and another $11.6 million to the Michigan Transportation Fund, upon appropriation. The remaining $12.5 million amount will be used toward start-up and administrative costs.”

These figures don’t include medical cannabis tax revenue, application and licensing fees paid by cannabis businesses, additional income taxes generated by workers in the cannabis industry, or corporate taxes paid to the federal government.

Source: https://www.metrotimes.com/detroit/michigan-reaps-271m-total-marijuana-revenue/Content?oid=28904103

 

Montana: During the first weekend of legal recreational marijuana sales in Montana, customers purchased more than $1.5 million in products, the Department of Revenue said.

The 20% sales tax raised over $313,000 in revenue for the state.

Another $443,000 in medical marijuana was sold on Saturday and Sunday, the agency said, brining in another $17,300 in tax revenue, the Montana State News Bureau reported. Medical marijuana is taxed at a 4% rate.

Montana voters approved recreational marijuana use for adults 21 and older in November 2020. The 2021 Legislature passed a bill to implement the program beginning on Jan. 1, allowing adults to buy and possess an ounce of cannabis, up to 8 grams of concentrate or edibles containing up to 800 mg of THC — the main psychoactive compound in cannabis.

Only businesses that had sold medical marijuana prior to the November 2020 election are eligible to sell recreational marijuana through July 2023, when additional businesses can be licensed.

Source: https://www.usnews.com/news/best-states/montana/articles/2022-01-05/1st-recreational-marijuana-sales-in-montana-top-1-5-million

 

New Jersey: New Jersey will soon be able to monitor the supply of legal marijuana “from seed to sale” after the state’s Cannabis Regulatory Commission voted Friday to install a new statewide inventory management tracking system.

The tracking system, required by the state law, is needed to make sure New Jersey’s new marijuana market will meet guidelines on everything from selling and growing weed to making sure there is enough supply and that it is safe for consumers.

The company’s website says Metrc serves more than 250,000 users in 15 states, the District of Columbia, and Guam.

Source: https://www.nj.com/marijuana/2022/01/nj-hires-firm-to-track-legal-weed-from-seed-to-sale.html

 

Oregon: Adults can now purchase up to two ounces of cannabis flower from licensed retailers, under amended rules issued by the Oregon Liquor and Cannabis Commission.The updated purchasing rule, which increases the quantity of cannabis flower a customer can buy per transaction from one ounce to two ounces, took effect on January 1.

Last year, lawmakers enacted legislation, Senate Bill 408, increasing the allowable amount of cannabis flower that can be possessed by adults in public to two ounces. State law allows those ages 21 and older to legally possess even greater quantities within the privacy of their homes.

Source: https://norml.org/blog/2022/01/10/oregon-new-rules-increase-the-amount-of-cannabis-adults-can-purchase-per-transaction/

 

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

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