The cannabis legalization wave that started during state elections last November is only gaining momentum. In just the last week, New York became the 16th state to legalize adult-use cannabis and New Mexico's legislature passed a legalization bill that is only awaiting a signature from the governor to become the 17th state. Meanwhile, a federal cannabis legalization bill is in the works as more and more states join the movement -- check out the latest!
NATIONAL HIGHLIGHTS
A Bill To Federally Legalize Cannabis Is Coming
Senate Majority Leader Chuck Schumer announced last week that a bill to federally legalize cannabis will be introduced in the Senate “shortly”. While the bill hasn’t been filed yet, it’s expected to remove cannabis from the list of federally controlled substances and promote social equity. Schumer stated the bill will specifically seek to restrict large alcohol and tobacco companies from dominating the industry, instead prioritizing small businesses - especially those owned by people who have been disproportionally impacted by prohibition. (Marijuana Moment)
STATEWIDE CHATTER
New York
New York became the 16th state to legalize adult-use cannabis last week. After much debate and discussion this year, Gov. Andrew Cuomo and state lawmakers reached an agreement on a cannabis legalization proposal. The proposal was re-filed as S 854-A, known as the Marijuana Regulation and Taxation Act. Adults 21 and older will be able to possess and purchase cannabis from licensed retailers, with sales expected to launch sometime in 2022. Licenses for cultivators, processors, distributors, cooperatives, microbusinesses and nurseries will also be created, with a prohibition on vertical integration except for microbusinesses and existing medical cannabis operators. It will take about 18 months for adult-use sales to go into effect, but the state’s total cannabis market is estimated to be worth $4.6 billion. (Forbes)
New Mexico
Immediately following New York, New Mexico is slated to become the next state to legalize adult-use cannabis. Lawmakers held a special session last week to provide one more opportunity to pass cannabis legalization this year. In just the first day, a legalization bill advanced to full chamber hearings, along with a separate bill to automatically expunge past cannabis convictions. Both measures passed out of the legislature by the following day. The legalization bill is a revised version of HB 12, a bill that lawmakers were previously considering during the regular legislative session. The bill establishes that regulators will need to draft specific licensing and business regulations by January 1, 2022, and issue business licenses to qualified applicants by April 1, 2022. The state is just waiting on Gov. Michelle Lujan Grisham to sign the bill into law, which she has promised to do. (New York Times)
Virginia
Gov. Ralph Northam has officially proposed moving up the timeline to legalize cannabis in the state, among other proposed amendments he submitted to lawmakers last week regarding the cannabis legalization bill they passed in February. Many legislators and reform advocates support the governor’s suggested changes, and lawmakers will consider them in an upcoming special session on April 7. Northam is seeking to allow legal possession and home cultivation in July instead of 2024, expedite automatic expungements for people with prior marijuana-related convictions, and immediately fund a public education campaign on the health and safety risks of cannabis. Northam has not yet signed Virginia’s cannabis legalization bill for these reasons, hoping to improve the legislation before it is signed into law. (Marijuana Moment)
Vermont
Vermont's three-member Cannabis Control Board is close to being officially formed; a key development to move forward with the implementation of the state’s adult-use market. The governor announced his picks for the board, but they still have to be approved by the Senate, which is expected to confirm them within the next week. The board will be responsible for licensing cannabis businesses to service the new market. Under Vermont’s law, cannabis businesses should be able to open as soon as October 2022. However, the governor’s appointment of the board members is two months behind the implementation timeline outlined by lawmakers. Some lawmakers are concerned that this could delay the market by up to a year, since the board must make recommendations to the legislature regarding market regulations. If the legislature doesn’t receive the recommendations by May when they adjourn, the timeline could be pushed back significantly. (VT Digger)
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