Latest Cannabis News: July 12, 2022
Latest Cannabis News: July 12, 2022
Stay up to date with the latest legalization and cannabis news with the C.B. 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
North Carolina: The North Carolina Senate took the first steps towards legalizing the use of medical marijuana throughout the state in early June with the passing of the Compassionate Care Act.
The bill would allow physicians to prescribe medical cannabis to patients for conditions including cancer, epilepsy, HIV, AIDS, Parkinson’s disease, and multiple sclerosis if approved. Conditions such as chronic pain, glaucoma, and anxiety are not included. Eligible patients younger than 18 could also consume medical cannabis through a noninhalation method with the consent and care of a legal guardian.
Recreational
Connecticut: Connecticut officials are about to look first at business owners who hope to benefit Black and other underrepresented communities by setting up shop in the lucrative cannabis industry.
The Social Equity Council, established to ensure the adult-use cannabis program is grown equitably and that money earned in sales is returned to the communities hit hardest by past government drug policy, is set to meet Tuesday and review applications. Nearly two-thirds of the almost 37,300 applications to start a cannabis enterprise in Connecticut want to participate in the social equity side of the business intended to reverse the damage to underrepresented communities by the government’s war on drugs.
New Jersey: Products purchased at medical cannabis dispensaries are no longer subject to the state sales tax.
New Jersey has been among the few states that have imposed sales taxes on medical cannabis products for nearly a decade. (Sales taxes do not apply to other physician-authorized medicines.) The imposition of the tax has been among the reasons that patients in the state have been paying higher than average prices for medical cannabis.
New York: New York marijuana regulators have put 52 unlicensed cannabis retailers on notice, publicizing dozens of cease and desist letters they have sent to businesses accused of illegally selling marijuana as the state prepares to launch its adult-use market.
The Office of Cannabis Management (OCM) said that the storefronts are falsely claiming to be legal cannabis shops without a license and without adhering to product testing requirements, which could jeopardize public health.
As stated in the letters, businesses that receive the warning and continue to sell marijuana without permission could be permanently barred from getting a license when regulators issue them. This is expected to start happening later this year.
Virginia: Republican Governor Glenn Youngkin signed the 2022 budget bill, which recriminalizes language activities involving the personal possession of over four ounces of marijuana in public. Under the new law, the public control of over four ounces but less than one pound of cannabis is a Class 3 misdemeanor punishable by a $500 fine. Second or subsequent offenses are Class 2 misdemeanors punishable by up to six months in jail and a $1,000 fine.
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