A recent report from California’s Legislative Analyst’s Office (LAO) has proposed a change in the way cannabis is taxed. Rather than the current approach of multiple taxations, including at the cultivation point and a later excise tax.
The signing of HB 1438 into law brings with it new opportunities and benefits for Illinois residents. Not only can they expect to have the legal ability to buy recreational cannabis in 2020, but close to 800,000 people will have their criminal records expunged for having been convicted of possession or purchase of marijuana.
Despite the many strides that have been made to legitimize cannabis use for therapeutic and recreational purposes in many states, it continues to be federally classed as a Schedule I drug. Pros, such as former Baltimore Ravens offensive tackle, Eugene Monroe, is a good example of how publicly endorsing cannabis can work out badly.
Arizona, Delaware, New York, New Jersey, Connecticut, Maryland, Rhode Island, New Mexico, and Ohio are expected to join the recreational use bandwagon. With the growing stimulus of tax revenues and more employment, the economic benefits of full legalization are not to be ignored.
The Secure and Fair Enforcement (SAFE) Banking Act was approved in March 2019 by the House Financial Services, and advocates are anticipating a full House vote. Key lawmakers have been talking for months about placing this legislation on the calendar for a full House vote.
The three vertically integrated companies will soon start growing their own cannabis and cause an oligopoly. Other states, like Colorado, have stopped awarding additional licenses to marijuana companies, almost encouraging oligopolies.
Most people are worried about receiving a fine, less than a year jail time or probation if caught with marijuana in the U.S. Other countries do not take drug offences lightly and impose the harshest of penalties including death.
Senate Minority Leader and New York Representative have worked side by side on the Marijuana Freedom and Opportunity Act. Let’s take a quick peek at the summary of what this bill entails and what it can mean for the cannabis industry, consumers and communities nationwide.
The Governor is receiving push back from the police since his announcement to legalize the sale of marijuana by licensed businesses and personal possession up to one ounce of cannabis flower.