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Attorneys Generals from 34 states and territories sent a letter today to Congressional leadership urging members to expeditiously pass The Secure and Fair Enforcement (SAFE) Banking Act so that state-licensed cannabis business can explicitly engage in relationships with banks and other financial institutions.
In the previous Congress, The Ending Federal Marijuana Prohibition Act became the first bill in American history to end the federal policy of criminalization that earned bipartisan support. Marijuana legalization is here to stay and it is time that federal policy reflect that.” ” said NORML Executive Director Erik Altieri.
Today, we stood with Representatives Tulsi Gabbard and Don Young as they introduced the Ending Federal Prohibition Act and Marijuana Data Collection Act. This is not just good policy, but good politics. As long as marijuana remains a Schedule I substance, federal policy remains ignorant of this fact.
Is cannabis legal for business purposes in Australia? Cannabis businesses must comply with several laws, including: Narcotic Drugs Act 1967 regulates cannabis cultivation and manufacture for medicinal or scientific purposes. Laws apply to business activities of all kinds at the local government level. The specific license type.
Drug Enforcement and Policy Center, August, 2022. According to its sponsors and supporters, the Safe and Fair Enforcement (‘SAFE’) Banking Act would help address the challenges faced by small cannabis businesses that cannot currently access banking services or loans. Ohio State Legal Studies Research Paper No.
While we’re on the topic of dramatic legal changes, it’s probably a good idea to talk about a California privacy law that’s about to take effect and require many cannabis and hemp companies across the nation to dramatically change their business practices—the California Consumer Privacy Act (or “CCPA”).
We’ll hand them an iPad, and ask them to fill out a couple quick surveys,” said Michael McDonell, chair of WSU’s Collaboration on Cannabis Policy, Research and Outreach. McDonell said research institutions are limited in their access to cannabis users by federal laws that could affect funding.
House of Representatives’ Small Business Committee will hold a hearing on Wednesday on the challenges and opportunities small businesses face in the cannabis industry. Activists in Mississippi have collected approximately two thirds of the needed signatures to qualify a medical cannabis ballot initiative in 2020.
Senator Ron Wyden introduced legislation in the Senate — The Marijuana Revenue and Regulation Act — to permit states to establish their own marijuana regulatory policies free from federal interference. House Financial Services Committee is scheduled to hold a hearing on cannabis business banking issues next week.
This week, a bipartisan coalition of more than 100 co-sponsors has reintroduced legislation in Congress, The Secure and Fair Enforcement Banking Act (SAFE Banking Act), HR 1595, to allow state-licensed marijuana-related businesses to engage freely in relationships with banks and other financial institutions. CO resident? Update : H.333
But there is some other news: the IRS seems likely to increase auditing of marijuana businesses, and Epidiolex has been removed from the controlled substances list. Industry grou ps are advocating that marijuana businesses be included in that legislation. In Canada, cannabis businesses are eligible for federal government relief.
The current public policies in local and state cannabis ordinance and equity programs may enhance racial disparities if they follow the pattern of exclusion and criminalization that encompass past policies promoted as beneficial to African Americans but uphold racial capitalistic practices. Theme 3 involved access to capital.
Judges are frustrated, businesses are losing money, and lawsuits that should never have been filed are clogging up the courts. If you run a cannabis business, you need to know why this is happeningand how to avoid becoming the next case on the docket. Cannabis litigation is exploding. Why Are There So Many Cannabis Lawsuits?
Over the study period, 59% of dispensary licenses were issued to minority- or women-owned businesses (compared to 21% for the medical cannabis market). Additionally, minority- or women-owned businesses held 63% of craft grower, 61% of infuser, and 74% of transporter licenses. Black loan applicants face higher bank loan denial rates.
The latest proposal submitted by House Democrats, entitled the HEROES Act, includes a provision that would allow “…access to financial services to cannabis-related legitimate businesses and service providers…” The language is from the SAFE Banking Act passed by the House last year. So let’s get started.
CRCC’s paper, published by the Ohio State University (OSU) Moritz College of Law, is titled “Not a SAFE Bet: Equitable Access to Cannabis Banking, An Analysis of the SAFE Banking Act.”. Drug Enforcement and Policy Center, August, 2022. But unfortunately, SAFE, as written, is unlikely to result in equitable access to financial services.
Since 2014 when sales began in Colorado and Washington, legalization policies have provided states a new revenue stream to bolster budgets and fund important services and programs. Eight of the laws were approved in 2020 or 2021, and in seven of those states, sales and tax collections have not yet begun. Here’s what they say.
The Cannabis Freedom Alliance (CFA) will take this opportunity to provide you each month with relevant news, policy, and legislative updates on how CFA and its members are marching towards the goal of ending cannabis prohibition. A new report from the Marijuana Policy Project shows that states have collected $7.9
What constraints does the MRTA place on the location of these businesses? Applicants who do not qualify as social or economic equity applicants should be considering how their operations might meet the policy goals of MRTA, because the legislation’s licensing framework includes several criteria focused on social and economic equity.
Thats what Ballot Measure 119 is all about: a law that requires cannabis businesses to allow employees the chance to unionize without interference. Ballot Measure 119, known as the United for Cannabis Workers Act, sets a new licensing requirement for cannabis businesses in Oregon. What is Ballot Measure 119?
Licensed medical marijuana businesses, e.g., commercial grow operations, manufacturing facilities, and dispensary stores, are required to use seed-to-sale systems. Louis Post-Dispatch reports the DHSS received 2,266 cannabis business applications filed by at least 700 different groups. Randal Williams, et al.
“We are delighted to be expanding our Craft Cannabis Collection in the Province of Ontario – Canada’s largest and fastest growing recreational cannabis market,” stated Sugarbud’s CEO, John Kondrosky. We Take Pride. We Take Our Time………….
Medicann is a premier cannabis-specialized clinic, providing patients with access to local specialist doctors and pharmacists that have experience prescribing cannabis-based medication. a global leader in the cannabis industry serving both medical and consumer markets and dedicated to helping people improve their lives.
From opt-outs to gross limitations on the number of initial cannabis stores, “competent” is hardly a word we could use to describe Ontario’s marijuana policy. Ontario will not allow dispensaries to offer “click-and-collect” purchases or home deliveries. . No Click-and-Collect or Delivery Options.
The Core Business delivered strong organic growth 13 in H1 2021 (17% year-on-year) despite some of Eurofins’ businesses remaining affected by lockdowns during H1 2021. With organic revenues 13% above H1 2019 in H1 2021, Eurofins’ Core Business is once again leading the TIC industry in terms of organic growth.
–(BUSINESS WIRE)–International cannabis brand Cookies today announced the debut of new top-shelf concentrate and flower product lines at the Cookies Tacoma retail location, with statewide availability coming soon through an exclusive partnership with expert extraction company Edgemont Group , maker of Full Spec and Leafwerx products. .–(BUSINESS
To collect signatures for our trip to Washington DC for NORML’s national conference and lobby day, we hosted pop-up stops at the many dispensaries across Las Vegas and a few in Reno. We heard their viewpoints on cannabis reform and asked them questions in person on how their policies would affect consumers and patients.
Kind Idaho Chair Jackee Winters is laser-focused on qualifying the group’s medical cannabis legalization initiative for the state’s 2022 ballot in order to help her daughter, who suffers from a brain tumor, get legal access to cannabis. It’s time for Idaho to grow up,” she told Cannabis Business Times and Cannabis Dispensary.
SEATTLE–(BUSINESS WIRE)–Today, Leafly , the world’s leading cannabis marketplace and resource, released Seeds of Change : Strategies to create an equitable cannabis industry , a first-of-its-kind report that measures states’ efforts in making social equity a foundational part of cannabis legalization.
The tides have been rapidly changing for hemp companies to gain access to banking, which has not traditionally been available to hemp companies due to the fact that hemp was (sort of) federally illegal until about a year ago. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts.
Move cannabis excise-tax collection and remittance to retail in 2023, establishing one point of collection and remittance and greatly simplifying tax requirements for the entire cannabis supply chain. Allow eligible equity retailers to keep a percentage of the excise tax they collect. You can access the bill language here.
High Tide gains access to Daily High Club’s over 15,000 subscription box members who are ideal customers for High Tide to potentially launch cannabis subscription boxes in the event of U.S. million in cash (collectively with the Share Consideration, the “ Consideration “). federal legalization.
1647, the Veterans Equal Access Act, which expands medical cannabis access to eligible military veterans. Legislation is pending, House Bill 19-1234, to allow licensed marijuana businesses to deliver both medical and adult use marijuana to private residences. Representative Earl Blumenauer (D-OR) has reintroduced H.R.
Kind Idaho Chair Jackee Winters is laser-focused on qualifying the group’s medical cannabis legalization initiative for the state’s 2022 ballot in order to help her daughter, who suffers from a brain tumor, get legal access to cannabis. It’s time for Idaho to grow up,” she told Cannabis Business Times and Cannabis Dispensary.
–(BUSINESS WIRE)–International cannabis brand Cookies today announced its long-awaited expansion to the East Coast in partnership with New Día , LLC in Worcester, Massachusetts. New Día is an exceptional minority-owned business, neighbor, and benchmark for inclusion and diversity within the cannabis industry in Massachusetts.
Opportunities for Marijuana Establishments to Access Financial Services: Recent Advancements at the State and Federal Level. The result is that these businesses are cash-only businesses whose only access to capital is through private-equity. Authored By: Hannah King. Proposed Legislation in Maine.
Hardware stores and dispensaries alike, business operators who work out of commercial properties have been ensnared in a recent theft trend. Businesses succumbed to 2020’s initial waves. Predictably, malevolent and roving mobs are proving unlikely to bypass businesses known for holding mountains of cash and big stashes of cannabis. “We
This only reaffirmed that social justice needs to be a priority when discussing marijuana policy in this community. June 2018: Collected 79 Candidate Surveys from across Nevada. to engage their lawmakers in marijuana policy reform. December 2018: “Access for All” Patient Voucher Program. July 2018: Lobby Day in DC.
Curiously, federal law also requires these cannabis businesses to pay federal taxes on their income even though that income is illicit money as far as federal law is concerned. These businesses are similarly denied any tax credits to which they may otherwise be entitled. The Controlled Substances Act. In a 1981 U.S.
We know that current tax policies disproportionately burden cannabis farmers and small businesses and create instability throughout the supply chain, ultimately undermining the societal benefits of a taxed and regulated market. million to help expand access to legal retail throughout California.
Its operations include: CRFT a curator and aggregator of craft cannabis, providing advocacy and access for premium small-batch growers to Canada’s cannabis market; Medcann Health Products – a cultivation and processing facility in Chemainus, BC; Feelwell Brands , a successful cannabinoid brand house licensed in the state of California; and.
California Steps Up Tax Collection Efforts. The California Department of Tax and Fee Administration (CDTFA) has stepped up its attempts to collect about $200,000 in unpaid taxes from both illegal and licensed cannabis operations. The CDTFA plans to escalate tax enforcement against legal cannabis businesses.
Tax revenue from legal cannabis sales is collected by the state and used to fund whatever the state needs. 70% of respondents stated that they would pay fair market value or above for a house near a cannabis business. Just this year, we welcomed two new states to the lineup of those with legal access to cannabis.
Oliver shares her personal experiences and lessons learned as a small business owner in the cannabis industry with Cannabis Business Times. RELATED: 6 Cannabis Business Lessons We Learned Too Late. The value of hiring a professional lobbyist compared to the price you pay for bad policy. I wish I knew… 1.
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