Ensuring Entrepreneurs and Businesses Stay Informed of Developments in the Burgeoning Cannabis Industry

Legalization Efforts in Florida Take a Hit

It now appears that Floridians will not have the opportunity to legalize marijuana by ballot initiative in the upcoming 2020 election. Make it Legal Florida, the organization attempting to get the issue on the 2020 ballot, announced on Monday that they will not be able to secure enough petition signatures to qualify the issue for the election.

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FDA Still Struggling for Reliable CBD Data; Congress Losing Patience

In late May 2019, the Food and Drug Administration held a landmark hearing regarding a regulatory framework for CBD products. By July, Congress was already becoming impatient with the lack of progress. It is now January 2020, and the FDA does not appear to be much closer to releasing its long-anticipated regulations. Congress’s impatience has now turned into action.

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SAFE Banking Act in “Stall Pattern”

After passing the House in September with bipartisan support, the SAFE Banking Act seemed to have momentum. Senate Banking Chair Mike Crapo even stated he wanted his committee to mark up the bill before the end of this calendar year. But after committee members raised a few small issues, negotiations slowed significantly, eviscerating the bill’s previous momentum.

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Happy Holidays! Cannabis Regulators Announce Higher Taxes and Suspend Cannabis Permits in California

California cannabis businesses and consumers have faced a rash of challenges as state agencies hike taxes and suspend business licenses. There is no sign of let up. On November 21, the California Department of Tax and Fee Administration (CDTFA) announced hikes on next year’s cannabis mark up and cultivation tax rates. Effective January 1, 2020, the newest mark up rate will increase from 60% to 80%.

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The Joint Status Report, A Cannabis Industry Podcast Presented by Locke Lord – Ep. 16

On this episode of The Joint Status Report, Doug Sargent and David Standa discuss the results of the lottery for the early-use secondary sites to be placed in the City of Chicago (1:01), the passage of the MORE Act out of the House Judiciary Committee (5:39), the recent ADA/medical marijuana lawsuit filed against Amazon (11:19), and the concerning trend of ADA website-based lawsuits being filed against CBD companies (16:12).

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