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From proposed legislation targeting hemp products to new rules affecting packaging and labeling, heres what you need to know about the latest developments in the Sunshine State. This new effort follows a similar initiative placed before voters in 2024, Amendment 3 , which fell short of the 60% threshold it needed to pass.
Identical bills that were passed by the Virginia General Assembly put a cap on the total amount of THC (tetrahydrocannabinol), the main psychoactive compound in cannabis that makes users feel high, to 2 milligrams per package. Adam Ebbin (D-Alexandria) that would have carved a new path for recreational sales to start in 2023.
Legal sales of adult-use cannabis in Arizona commenced midday on Friday January 22 nd , several months ahead of industry expectations, and the fastest that any of the 15 states with recreational marijuana has gone from voter approval to actual sales. The state realized over $2.9M in recreational sales within 10 days of legalization.
This year, five states—New York, New Jersey, Connecticut, Virginia and New Mexico legalized recreational pot, bringing to 18 the number of states enacting law to regulate and tax cannabis for adult use. Municipalities must commit the stimulus money by 2024, and spend it by 2026. California may bring in $1.7 Read more at [link].
Tilray’s Leading European Footprint and Market Leadership in Germany Positions the Company to Seize Recreational Cannabis Opportunity. This ‘current value plus upside’ model is the backbone of the pursuit of our target of delivering $4 billion in revenue by the end of fiscal 2024. NEW YORK, Nov. Strong Presence in the E.U.:
The Maryland Hemp Coalition, hemp farmers, and other hemp-related businesses have filed a suit, challenging Maryland’s new recreational cannabis licensing policy, which they say favors only a special handful of businesses. milligrams per package, whether for ingestion or inhalation. 1, 2024, or later.
With the recent passage of House Bill 556 and Senate Bill 516 in Maryland, the legalization of adult-use recreational cannabis is set to begin on July 1, 2023. The legislation outlines three separate rounds of licensing, with the first round scheduled for the fall of 2023 and the second round in 2024. Home cultivation products.
With the recent passage of House Bill 556 and Senate Bill 516 in Maryland, the legalization of adult-use recreational cannabis is set to begin on July 1, 2023. The legislation outlines three separate rounds of licensing, with the first round scheduled for the fall of 2023 and the second round in 2024. Home cultivation products.
That much choice is not always a good thing, as it can be overwhelming for a cannabis novice — or a seasoned veteran — but once consumers acclimate to the choices, they’ll begin to appreciate the options available to find just what they need for medicinal purposes or want for recreational purposes. billion by 2024.
Cannabis companies look for experienced and talented employees, leading to competitive job salaries and benefits packages. Packaging Manager. In 2024, a vote on adult-use cannabis may propel the market to greater heights. New Jersey – Recreational sales are expected to start by summer 2022. Cannabis Job Salaries in 2022.
Virginia’s 2022 – 2024 budget bill, HB 30 , amended some of the above provisions and created labeling requirements for industrial hemp products that contain hemp-derived THC, but did not address commercial sales of adult-use cannabis ( see Item 4-14 #5c). Automatically expunging former marijuana offenses. Christina Sava.
Simon, Tilray’s Chairman and CEO, said, “Backed by accelerating trends towards legalization globally, we are focused on building the world’s leading cannabis-focused consumer branded company with a goal of $4 billion of revenue by the end of our fiscal 2024. market when legalization allows.”. About Tilray, Inc. Tilray, Inc.
Simon, Tilray’s Chairman and CEO, said, “Backed by accelerating trends towards legalization globally, we are focused on building the world’s leading cannabis-focused consumer branded company with a goal of $4 billion of revenue by the end of our fiscal 2024. August 17, 2021 04:03 PM Eastern Daylight Time. About Tilray, Inc. Tilray, Inc.
However, AB 37 will provide at least some tax relief to California cannabis businesses (from 2020-2024). AB 1259 takes effect immediately, and it will change up the packaging/labeling requirements for vape cartridges and pen makers by making life a little bit easier. ” Vape Cartridges and Pens.
California stands as a primary example in facing, maintaining, and boosting all things related to the cannabis industry, from legalization to delivery services, for both medical and recreational use. This provision represents a significant step towards ensuring equitable access to medical cannabis for patients across the state.
Many state policymakers fail to understand this dynamic, which recently resulted in the Minnesota Legislature accidentally legalizing edibles containing up to 50 milligrams of delta-9 THC per package, as some state legislators failed to understand that legalizing hemp-derived cannabinoids included delta-9 THC that falls at or below the 0.3%
People often fail to realize that new opportunities and room for innovation are abundant amongst ancillary businesses, such as packaging, real estate, and even professional services like insurance or litigation. . economy by 2024.
Governor Kevin Stitt signed legislation enacting a moratorium on some new medical marijuana licenses, effective on August 1, 2022 and ending August 1, 2024. Permits and taxes legal recreational sales from licensed retailers starting December 1, 2022. The initiative does not establish a licensed recreational marijuana market.
It’s easy to think about that growth as a factor of changing perceptions among consumers — recreational, medical , or something in between. Really large European ag-techs, really large North American CPG (consumer packaged goods) companies, Big Tobacco — they’re ready to make moves. billion by 2024. The power of federal reform.
In early 2024, a bill was signed by Kentuckys Governor to expedite the cannabis licensing process ahead by six months so the new medical cannabis market launch could also happen sooner. These applications flooded in during the two-month window for applying that ended in October of 2024.
Governor Kevin Stitt signed legislation enacting a moratorium on some new medical marijuana licenses, effective on August 1, 2022 and ending August 1, 2024. Permits and taxes legal recreational sales from licensed retailers starting December 1, 2022. The initiative does not establish a licensed recreational marijuana market.
Ralph Northam detoured his signing of adult-use cannabis legislation, but an amendment package decided by a tiebreaker cleared a path for the stroke of his pen on Wednesday. On April 7, the General Assembly approved the Democratic governor’s amendment package by way of Lt. Virginia Gov. The problem?
Ralph Northam detoured his signing of adult-use cannabis legislation, but an amendment package decided by a tiebreaker cleared a path for the stroke of his pen on Wednesday. On April 7, the General Assembly approved the Democratic governor’s amendment package by way of Lt. Virginia Gov. The problem?
Ralph Northam detoured his signing of adult-use cannabis legislation, but an amendment package decided by a tiebreaker cleared a path for the stroke of his pen on Wednesday. On April 7, the General Assembly approved the Democratic governor’s amendment package by way of Lt. Virginia Gov. The problem?
Ralph Northam detoured his signing of adult-use cannabis legislation, but an amendment package decided by a tiebreaker cleared a path for the stroke of his pen on Wednesday. On April 7, the General Assembly approved the Democratic governor’s amendment package by way of Lt. Virginia Gov. The problem?
Our ancestors consumed cannabis flower for recreational, medicinal, and spiritual purposes. This scheduling is clearly at odds with public opinion, as 91% of Americans believe that cannabis should be legal either for medicinal or recreational use. US House of Representatives Passes the MORE Act.
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