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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