Jurisdiction: Illinois

It’s Complicated: Tax Revenue From Recreational Marijuana Remains Difficult to Estimate

“In this world nothing can be said to be certain, except death and taxes.” The Works of Benjamin Franklin, 1817. That idiom remains true today, and with the legalization of recreational marijuana markets, it was widely accepted that the taxes would allow state and local governments to plug budgetary shortfalls.

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Second Act: Illinois Lawmaker Proposes Bill To Regulate the CBD Industry

Fresh off becoming the first state to create a recreational marijuana market via legislation, at least one Illinois lawmaker remains focused on the cannabis industry. On October 2, 2019, Illinois Representative Bob Morgan (D-Deerfield) introduced the CBD Safety Act (HB 3906), which will mandate that CBD products meet labeling and minimum testing requirements pursuant to rules adopted by the Department of Agriculture.

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The Marijuana Job Market Is Lit

The cannabis-related job market continues to expand according to a PoliticoPro report (subscription required) that analyzed data from Indeed.com, an employment search engine. In May 2016, cannabis job postings accounted for 231 per million total job postings. By May 2019, that number has increased nearly four-fold to 915 postings per million.

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Naperville Officially Opts Out of Recreational Marijuana Sales…For Now

At a meeting on Tuesday night that spanned over three hours and was attended by hundreds of individuals wearing “opt out” t-shirts, the Naperville City Council officially voted (6-3) to opt out of recreational marijuana sales in Illinois’s fourth largest city. This is not the final resolution of the issue, however, despite some reporting to the contrary.

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