Latest Cannabis News: September 1, 2022

Latest Cannabis News: September 1, 2022

Shelby Knight
SEPTEMBER 1ST, 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.

 

Dry

 

Nebraska: Advocates who sought to place a pair of medical marijuana access proposals before voters failed to gather the necessary number of signatures required to place them on the November ballot.

Election officials on Monday reported that petitioners had collected fewer than 77,000 total signatures from registered voters for each of the ballot measures. State law required them to gather at least 86,776 signatures from registered voters.

Source: https://norml.org/blog/2022/08/23/nebraska-advocates-fail-to-secure-ballot-access-for-medical-marijuana-legalization-measures/

 

 

Medical

 

Arkansas: An Arkansas court battle over whether a recreational cannabis legalization ballot measure will go before voters continues, with an anti-marijuana group filing a motion with the state Supreme Court that calls the initiative “misleading, fraudulent, and illegal” under state law.

Safe and Secure Communities told the state’s high court that the initiative should not be allowed on the ballot because it doesn’t “disclose the elimination of the currently existing THC limitation in the Arkansas Constitution,” the Northwest Arkansas Democrat-Gazette reported.

The move is the latest in a seesawing legal fight between cannabis proponents – including the campaign behind the initiative, Responsible Growth Arkansas – and marijuana groups that don’t want adult-use legalization to pass.

The measure was first rejected by the State Board of Election Commissioners. But after Responsible Growth Arkansas sued, the state Supreme Court issued a preliminary injunction conditionally placing the initiative back on the ballot.

Source: https://mjbizdaily.com/court-fight-over-arkansas-recreational-cannabis-ballot-measure-heats-up/

 

Recreational

 

California: The end of California’s legislative session is just around the corner with setting up the framework of interstate cannabis commerce, among the bills that will advance to the office of the governor of California for his signature. There are other bills still pending, such as one that would prohibit localities from banning medical marijuana deliveries and another that would provide job protections for people who use cannabis outside of work.

Recently, lawmakers have given final approval to a number of reforms that are now being sent to Govenor Gavin Newsom, reported Marijuana Moment.

Among these measures are:

SB 1326 by state Sen. Anna Caballero (D)

AB 1706 by Assemblywoman Mia Bonta (D)

Sen. Caballero’s bill SB 1326 sets the stage for interstate cannabis commerce from California to other legal states, as long as the federal government allows for it through legislation or a Justice Department waiver.

Source: https://thedalesreport.com/cannabis/california-bills-to-set-up-framework-for-interstate-cannabis-commerce/

 

Connecticut: Select social equity applicants for retailer, micro-cultivator and Equity Joint Venture licenses in Connecticut are moving forward in the license application review process.

The retailer and micro-cultivator license applicants were chosen through a Social Equity Lottery, have been approved by a Social Equity Council and have met general assembly requirements to qualify as social equity applicants, according to Connecticut’s Department of Consumer Protection (DCP).

Source: https://www.cannabisbusinesstimes.com/article/connecticut-progresses-review-select-social-equity-applications/

 

New York: New York state began accepting applications Thursday to open its first legal recreational pot shops, taking a novel approach by reserving the initial roughly 150 retail dispensary licenses for people with past pot convictions or their relatives.

The application process is a key step toward opening one of the country’s most hotly awaited legal cannabis markets, but there’s no exact date yet for sales to begin. Except for California, New York is the most populous among the 19 U.S. states that have legalized possession and use of marijuana for adults.

New York officials have emphasized that they want to make sure the new industry provides opportunity to people who bore the brunt of drug law enforcement, which fell disproportionately on Black and Latino people.

Source: https://www.nbcnewyork.com/news/local/new-york-starts-taking-applications-to-sell-recreational-marijuana/3839905/

 

Vermont:  Vermont’s retail cannabis market is moving closer to becoming fully operational later this fall. The industry is expected to pump millions into the local economy, but this week one of the key financial institutions making the marijuana market possible is hitting the brakes.

The Vermont State Employees Credit Union, or VSECU, has been in the cannabis market for years, banking on the medical side of the industry. It’s also one of the major players in the new retail space. But this week the credit union announced it’s no longer taking on new cannabis businesses due to what they call a “sudden spike in cannabis accounts.”

Source: https://www.wcax.com/2022/08/25/vermont-credit-union-puts-pause-cannabis-banking/

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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