Topic: Legislation

The Lone Star State Is Feeling Lonely At The Bottom Of The Cannabis Industry

Texas is heading for a boom—it is attracting tech businesses and growing its population, as individuals transplant from other states looking for a lower cost of living and better quality of life. Texas also has a fledgling medical cannabis program that may be headed for a boom as well. Texas’s medical cannabis program is small in both patient size and product offering, but there is a seed that can sprout growth.

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Is Cannabis Banking Reform Finally on the Horizon?

Those who follow the cannabis industry (and our blog) well know by now that federal cannabis reform is speculated about regularly, but has not seen much tangible progress to date. Industry followers also know that lack of access to traditional banking and financing remains a major handcuff on most industry participants. While some have been able to navigate these constraints better than others, there can be no reasonable debate that this issue is a prevalent hindrance on the industry.

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Update: Vermont Officially Legalizes Recreational Marijuana Sales

Yesterday, Vermont became the 11th state to legalize recreational marijuana sales and the second to do so via legislation (Illinois was the first in 2019). The State House of Representatives and State Senate previously approved a compromise bill legalizing marijuana sales and establishing a framework to regulate it, as we wrote about here.

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Vermont Bill Legalizing Marijuana Sales Passes General Assembly, Heads to Governor Scott

While possessing and growing small amounts of marijuana has been legal in Vermont since 2018, it is still illegal to sell marijuana. A legal retail market may be on the horizon though, as the State House of Representatives and State Senate have approved a compromise bill that would legalize marijuana sales. The bill sets up a new Cannabis Control Board that would be responsible for regulating the cannabis market, including issuing licenses. Under the bill, cannabis products would be charged a 14% excise tax in addition to the state’s standard 6% sales tax.

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Proposed House Bill Would Legalize CBD in Dietary Supplements and Reduce Uncertainty Surrounding CBD

Last Friday, a bipartisan bill was introduced in the House of Representatives that would legalize cannabidiol (CBD) and other hemp-derived products for use in dietary supplements. The bill—H.R. 8179—was co-sponsored by Rep. Kurt Schrader (D-OR) and Rep. Morgan Griffith (R-VA) and is referred to as the “Hemp and Hemp-Derived CBD Consumer Protection and Market Stabilization Act of 2020.”

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Shaky Dominos: Pennsylvania Eyes Recreational Legislation and Voters in Montana, Mississippi and South Dakota Will See Marijuana Ballot Initiatives in November

In a recent post we explored where things stood at the federal level with respect to marijuana decriminalization and legalization. The takeaway was that the focus on criminal justice reform and economic variables continue to propel cannabis to the forefront of a national discussion.

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