As states get ready for their new legislative sessions to start, many governors and lawmakers are reiterating their support for cannabis law reform and announcing legalization proposals. The future looks especially promising for New York and Connecticut -- check out the latest!
NATIONAL HIGHLIGHTS
The Chances For Federal Cannabis Reform In 2021 Have Increased
After the Georgia Senate runoffs, Democrats have won control of the U.S. Senate, brightening the outlook for federal cannabis reform. Until now, efforts of cannabis reform in Congress - including the removal of cannabis from the Controlled Substances Act and ending the federal government’s prohibition on the plant - have stalled in the Republican-controlled Senate. In response to the news, shares of cannabis companies surged. (Marijuana Business Daily)
STATEWIDE CHATTER
Arizona
Arizona’s adult-use law allows medical marijuana dispensaries to begin selling marijuana to adult consumers on April 5, 2021, regardless of whether or not they are licensed by the state to do so. The provision was created to motivate regulators to establish final rules for the adult-use market in time for the first licensing process set to begin on January 19. While the process is largely reserved for the existing medical marijuana operators, a number of licenses will be available in rural, underserved communities for new entrants to the market. Many state leaders are anticipating that the existing operators will receive approval quickly after applications open, allowing sales to start as early as next month. (AZ Marijuana, Marijuana Moment)
California
In 2021, California will merge the three state agencies that oversee cannabis regulation into one, known as the Department of Cannabis Control. This means that regulatory issues will become easier to navigate for businesses. The plan of action comes after many cannabis operators complained of confusion caused by conflicting answers to policy questions and interpretations of state rules from the different agency officials. The new centralized agency may encourage additional local governments to opt into the state’s adult-use program. More than two dozen cities and counties approved marijuana-related ballot measures in 2020. (Marijuana Business Daily)
Connecticut
Gov. Ned Lamont of Connecticut reiterated his support for legalizing cannabis during his annual State of the State address last week. The governor pledged to cooperate with lawmakers to advance the issue in 2021, stating he doesn’t want to surrender the opportunity to out-of-state markets or, even worse, underground markets. Now that neighboring states have legalized adult-use and Connecticut needs to offset the economic effects of the coronavirus pandemic, the push for legalization is stronger than ever before. (Marijuana Moment)
Massachusetts
Massachusetts cities and towns brought in $14.9 million in annual adult-use cannabis tax revenue as the industry enters its third year. Cannabis stores saw a 75% annual sales gain over 2019, and the market is only anticipated to grow as additional cities and towns opt in to adult-use cannabis business. Local governments can establish up to a 3% local tax on cannabis in addition to state sales and excise taxes, which could help re-fuel their economy. The state’s Cannabis Control Commission is always accepting applications for retail stores. (Mass Live)
Montana
Montana lawmakers rejected a $1.35 million budget request to fund the state’s new adult-use cannabis program passed by voters last November. The state revenue department requested the money to set up a department of 20 full-time employees to oversee the program, so the move raises uncertainty about the program’s ability to meet its deadlines. The adult-use initiative establishes that business license applications must be made available by January 1, 2022. A University of Montana study projects sales of $217 million in the first full year the program is operational. (Marijuana Business Daily)
New York
Gov. Andrew Cuomo shared some details about his cannabis legalization proposal for 2021, one day after state lawmakers introduced a separate cannabis reform bill. Cuomo’s plan includes the creation of a new Office of Cannabis Management to oversee the state’s marijuana and hemp industries, and provisions for social equity business licensing. Lawmakers are generally in favor of legalizing cannabis, but there have been ongoing disagreements over specific details such as tax structure and allocation of tax revenue. Nevertheless, the governor and legislators are more motivated to compromise and pass a bill this year than ever before. The state is expected to generate $300 million in annual cannabis tax revenue once the program is fully operational. (Marijuana Moment)
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