Latest Cannabis News: June 28, 2022

Latest Cannabis News: June 28, 2022

Shelby Knight
JUNE 28TH, 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

 

Kentucky: A group of 17 members, specially selected by Governor Andy Beshear to discuss medical marijuana for Kentuckians, met for the first time. The committee will seek public input and then provide expertise on medical marijuana to the administration.

The Team Kentucky Medical Cannabis Advisory Committee took its first steps forward in Frankfort Monday to provide the Beshear administration with expertise on providing Kentuckians with chronic pain and other medical conditions access to cannabis.

 

Source:  https://www.wkyt.com/2022/06/20/kentucky-cannabis-advisory-committee-holds-first-meeting/

 

North Carolina: North Carolina hemp and CBD retailers, processors, and growers are tense this weekend as the N.C. General Assembly has yet to extend the law that legalized cannabis products such as hemp and CBD. That law, passed in 2015, expires on June 30.

State representatives on Wednesday removed pro-hemp language from the annual Senate Farm Act, the document keeping hemp and CBD products legal in the state; the products will become illegal starting on July 1.

Source: https://www.bizjournals.com/triad/news/2022/06/24/hemp-legal-north-carolina.html

 

Texas: Texas’ Supreme Court restored a 2019 smokable-hemp ban, throwing out a lower court’s rejection of the prohibition and outlawing any companies in the state that currently manufacture hemp products for smoking.

The unanimous decision released Friday turns down arguments from four Texas hemp companies that the ban passed by Texas lawmakers was unconstitutional because it “has no rational connection to any possible governmental interest” and is “so burdensome as to be oppressive.” The ban was passed in the same measure that authorized hemp production.

The Texas justices noted that hemp production before 2019 was illegal in Texas anyway. Hence, the manufacturers had little basis for arguing that the smokable-hemp ban somehow took away a business activity that had previously been allowed.

Source: https://mjbizdaily.com/texas-supreme-court-upholds-smokable-hemp-ban/

 

 

Medical

 

Louisiana: The governor of Louisiana has approved a slew of marijuana reform bills, including one key measure that would expand the number of medical dispensaries that can operate in the state and another to prevent police from searching people’s homes over the smell of cannabis.

Gov. John Bel Edwards (D) announced that he signed the cannabis proposals on Tuesday. While advocates are pushing for broader reforms like adult-use legalization, they generally feel that enacting these pieces of legislation is a step in the right direction.

Among the most notable signed bills is one from Rep. Tanner Magee (R) that will shift regulatory responsibility for the state’s medical-marijuana program from the Department of Agriculture and Forestry to the Department of Health. HB 697 will also allow existing medical cannabis dispensaries to add new satellite retail locations.

Source: https://www.marijuanamoment.net/louisiana-governor-signs-ten-cannabis-bills-including-significant-medical-marijuana-expansions/

 

Mississippi: Medical cannabis for qualified patients in Mississippi inches closer to becoming a reality. The Mississippi Department of Revenue announced that they would begin accepting applications for dispensaries on July 5.

Applications and registrations for patients and medical practitioners and facets of cannabis production began June 1 through the Mississippi Department of Health (MSDOH).

The work of both agencies stems from the Mississippi Medical Cannabis Act, which became law in February. The framework for legalized medicinal marijuana in Mississippi was delayed by roughly a year due to the overturning of Initiative 65 by the Mississippi Supreme Court in May of 2021.

Source: https://www.wdam.com/2022/06/25/progress-towards-medical-cannabis-inches-forward-mississippi/

 

Oklahoma: The Oklahoma Medical Marijuana Authority expects its budget request to increase for the fiscal year 2023 as it transitions to becoming an independent agency by November. Previously, OMMA has operated as a part of the Oklahoma Department of Health. Executive Director Adria Berry said during the Medical Marijuana Advisory Council meeting last Monday that the agency will increase its budget request for the upcoming fiscal year but expects it to “level out in subsequent years.”

The agency has brought in more than $24 million in excise tax revenue so far this year. According to Berry, state and local taxes on the medical marijuana industry brought an additional $31 million this year.

The agency was authorized to spend $42.1 million during the fiscal year 2022, ending on June 30. OMMA has spent $27.3 million of that money so far, said Berry. However, she said that number does not reflect all the agency’s expenses, Berry said. Money that remains unspent by OMMA goes back into the revolving fund.

Source: https://www.cannabisbusinessexecutive.com/2022/06/oklahoma-medical-marijuana-authority-expecting-budget-growth-ahead-of-autonomy/

 

Pennsylvania: A Pennsylvania House committee on Wednesday approved a Senate-passed bill to protect banks and insurers that work with medical marijuana businesses against being penalized by state regulators.

The House Commerce Committee advanced the legislation from Sens. John DiSanto (R) and Sharif Street (D), with two amendments, in a 22-1 vote. This action comes about two months after the full Senate passed the measure.

Chairman Brad Roae (R) filed both amendments. One clarifies that banking protections only apply to state-legal medical cannabis businesses and not to any broader recreational marijuana businesses that may become legal in the state in the future. The other, more technical change removes a specific mention of the federal Securities and Exchange Commission (SEC) and replaces that with a broader reference to a “federal financial regulatory agency.”

Source:  https://www.marijuanamoment.net/pennsylvania-marijuana-banking-bill-clears-house-committee-after-passing-full-senate/

 

South Dakota: South Dakota is finally making moves on legal cannabis rules and regulations after stalling for years following the legalization vote.

Finally, medical cannabis is legal in South Dakota, a state that was legalized in 2020 before facing numerous hurdles to making medical pot official. And still, the state’s dispensaries haven’t started distributing it. The next step to make that happen is a change in regulations, which is currently in the works behind the scenes.

In South Dakota, medical cannabis is overseen by The South Dakota Department of Health. They recently held a public hearing to review proposed changes and how things could move forward in the state if approved. Despite the hearing on June 21, there is still time to submit written comments on the changes. Comments will be accepted through July 1, either by email or snail mail.

Source:  https://hightimes.com/news/south-dakota-seeks-changes-to-medical-rules/

 

 

Recreational

 

Illinois: On Thursday, Illinois officials announced – through the Restore, Reinvest, and Renew (R3) program – the awarding of $45 million in grants funded by marijuana tax revenue to support community reinvestment in areas “hardest hit by the failed war on drugs,” reported Marijuana Moment on June 24.

The Reach Of Cannabis Tax Revenue: Illinois’s adult-use cannabis legalization law established the R3 Program. This is the second round of funding made available through the state.

Illinois first announced that applications for this grant round were open in December 2021.

Source: https://www.benzinga.com/markets/cannabis/22/06/27850119/illinois-the-state-awards-45m-in-cannabis-tax-funded-grants-to-support-community-reinvestment

 

New Mexico: Cannabis is New Mexico’s hot new industry. But given the complexities of state and local regulations, it’s not the most accessible industry for new entrepreneurs to enter. So, the state is hosting a virtual workshop to help.

The “InvestiNM” online informational workshop is scheduled for Tuesday, June 28, from 9:30 a.m. to noon. The Cannabis Control Division, the regulatory body that oversees the state’s cannabis industry, will host the event.

Source: https://www.krqe.com/news/marijuana/new-mexico-to-host-cannabis-workshop-for-entrepreneurs/

 

New York: An investment firm led in part by NBA Hall of Famer Chris Webber will manage New York’s $200 million social equity cannabis investment fund, Gov. Kathy Hochul’s office on Wednesday announced.

The fund, set up as part of the state budget this year, is part of a partnership between the state government and the private sector meant to spur investment to help finance leasing and equipping up to 150 conditional retail dispensaries in New York.

Those dispensaries will be operated by people who have been affected by the enforcement of prior cannabis laws.

Source: https://www.ny1.com/nyc/all-boroughs/ny-state-of-politics/2022/06/22/social-equity-fund-for-new-york-cannabis-market-takes-shape

 

Rhode Island: Rhode Island became the 19th state to legalize adult-use marijuana last month when Gov. Dan McKee put pen to paper and signed the Rhode Island Cannabis Act into law. The new law allows 24 new retail licenses to be issued in six geographic areas of the Ocean State. Sales are expected to start as early as December 2022. There are 67 licensed medical marijuana cultivators and another that has been approved but not yet licensed.

Source: https://www.newcannabisventures.com/rhode-island-adult-use-cannabis-sales-will-start-by-year-end/

 

Vermont: Vermont is pushing for less plastic and more reusable materials. As states are required to enforce cannabis compliance, which generally means child-proof packaging for any products leaving the building, the result is often an abundance of single-use plastic that is more challenging to recycle than materials you might find at the grocery store.

Vermont’s Cannabis Control Board is looking to change that. In the new “Guidance on Packaging,” released earlier this month, the board states that “packaging intended for consumer purchase at a retail location shall be reusable and shall not be plastic.” The guidance gives examples of acceptable reusable materials, including glass, tin, cardboard, and bamboo.

Source: https://hightimes.com/news/new-vermont-guidance-looks-to-eliminate-plastic-waste-from-states-cannabis-industry/

 

Virginia: Virginia Attorney General Jason Miyares says his office is planning to crack down on “copycat” THC edibles made to look like a popular snack and candy brand; displaying the colorful, cartoonish packaging poses a clear threat to children who may not know what they’re eating.

At a news conference in Richmond Wednesday, Miyares held up two nearly identical bags of Funyuns — one with the actual “onion flavored rings,” and one with subtle cannabis leaves on the package and “medicated” above the logo — to show how hard it can be to tell them apart.

The attorney general’s office displayed a bin of similar intoxicating snacks, saying all of them will be outlawed come July 1 due to a provision in the new state budget that bans the sale of THC products in packaging designed to resemble protected trademarks, as well as ostensibly child-friendly products shaped like people, animals, vehicles or fruit.

Source: https://www.virginiamercury.com/2022/06/22/virginia-ag-threatens-crackdown-on-copycat-thc-edibles/

 

 

 

 

 

 The Cannabis Business Advisors have more than thirty years of combined industry experience, spanning across the U.S. and around the globe. C.B. Advisors offers a comprehensive suite of services, including application and licensing preparation, operational analysis, merger and acquisition support, policy and procedures, exit strategy guidance, and business development planning.

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

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