New cannabis markets across the U.S. are preparing for new business opportunities. Georgia began accepting applications for medical cannabis producer licenses, Michigan's largest city approved an ordinance allowing for adult-use marijuana businesses, and New Jersey lawmakers are pushing to pass a bill that will establish regulations for the state's new adult-use market -- check out the latest!
NATIONAL HIGHLIGHTS
U.S. House Of Representatives Scheduled To Consider Federal Marijuana Legalization This Week
The U.S. House of Representatives is scheduled to consider and possibly vote on legislation to federally legalize marijuana this week. The Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act would remove marijuana from the federal Controlled Substances Act and open the industry to new multibillion-dollar business opportunities. While the bill may receive a yes vote from the House, it may face a harder challenge against the Senate – unless Democrats win control of the Senate through two runoff Senate races in Georgia in January. (Marijuana Business Daily)
STATEWIDE CHATTER
Georgia
The Georgia Access to Medical Cannabis Commission issued a Request for Proposals (RFP) last week that will lead to the granting of two “Class 1” licenses and four “Class 2′′ licenses to grow cannabis and process it into oils for the state’s medical cannabis program. Dispensary license applications are not yet available. The commission will most likely work to develop an RFP for dispensary licenses over the next couple of months so that dispensaries are able to begin operations and products are made available to patients in a timely manner. (Savannah Now)
Maine
Maine’s new adult-use marijuana market recorded $1.4 million in sales for its first month, earning almost $141,000 in tax revenue. The state currently only has six licensed and operational adult-use retailers located in Auburn, Bangor, Northport, South Portland and Stratton. The Maine Office of Marijuana Policy is still accepting applications for retail licenses with no current deadline for submission. (Press Herald)
Michigan
The Detroit City Council voted to approve an adult-use marijuana ordinance, providing new cannabis retail opportunities within the city. The ordinance allows for up to 75 retail licenses and ensures that at least 50% of the licenses will be issued to residents of Detroit. In order to compliantly operate a marijuana business in Michigan, applicants must obtain the proper permits from both city and state regulators. Detroit regulators expect to make retail applications available in January 2021. The city’s new opportunities are timely because beginning on March 1, 2021, Michigan state regulators will remove the eligibility restriction that requires an adult-use license applicant to also hold an active state medical marijuana business license. (Detroit Free Press)
New Jersey
Governor Phil Murphy and Senate President Stephen Sweeny have reached an agreement on how to tax cannabis, overcoming a hurdle that kept a cannabis legalization bill from advancing forward. The agreement allows the Cannabis Regulatory Commission to charge a fee on cultivators equal to a 7% sales tax, a fee that will be reevaluated every year. The 216-page bill establishes basic regulations for the state’s new adult-use cannabis industry and outlines six different business license types to service the market. The legalization initiative passed by voters established that licenses must be made available by June 30, 2021. (NorthJersey.com)
Ohio
After a recent survey showed that nearly 43% of patients travel between 10 and 30 miles to visit a dispensary, Ohio medical marijuana regulators are deciding whether to license additional dispensaries. The state currently as 52 operational dispensaries with an additional five that are seeking their final approval to operate. An attorney for the Ohio Board of Pharmacy, the board that regulates Ohio’s medical marijuana program, said she doesn’t know exactly when a decision will be made, but hopes its within a few months.(Cleveland.com)
South Dakota
South Dakota’s adult-use marijuana law is to be challenged in court after a lawsuit was filed to question the constitutionality of the voter-approved amendment that legalized marijuana in the state. The lawsuit was filed on November 20 by Pennington County Sheriff Kevin Thom and South Dakota Highway Patrol Superintendent Rick Miller, and has the support of anti-legalization Governor Kristi Noem. Lawsuits challenging new marijuana markets are common, especially in more conservative states. (Marijuana Business Daily)
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