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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.
Members of the House of Representatives voted 321 to 103 in favor, representing 79% of the vote of HR 1595: The SAFE Banking Act, which amends federal law so that explicitly banks and other financial institutions may work directly with state-legal marijuana businesses. Now we look to the Senate, where we are cautiously optimistic.
Is cannabis legal for business purposes in Australia? Importation, cultivation, production, and other activities conducted for medicinal and scientific purposes are lawful under federal Australian law when the necessary licenses and permits have been obtained. How do state and federal cannabis laws interact in Australia?
A new study from an industry advocacy group in California examines the content of dozens of unregulated intoxicating “hemp” products that are easily available in the Golden State despite being banned by state law. The study, entitled The Great Hemp Hoax , was released Feb. percent THC. Theres no ambiguity or loophole.
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 tension between state and federal laws is and remains untenable. This is not just good policy, but good politics. This legislation is about accepting political reality.
We’ve been writing a lot lately about recent major changes in federal hemp laws that will likely affect every hemp company in the United States (see here , here , and here ). privacy law to date. ” A business derives at least 50 percent of its annual revenues from selling consumers’ personal information.
It is a scenario that frustrates legal cannabis businesses and law enforcement alike. The surge in cannabis policy reform across the country and world may have caused many to anticipate a heavy blow to illegal operators, and black-market activity did experience an initial decline.
Next year promises to be a pivotal year for cannabis policy reform. In addition to the 2020 Presidential election in November, voters will also be deciding that same day on several state-level marijuana policy initiatives. With this in mind, we are seeking guidance regarding how we can more effectively serve our membership.
Thats what Ballot Measure 119 is all about: a law that requires cannabis businesses to allow employees the chance to unionize without interference. This push led to significant changes, including the introduction of labor laws designed to safeguard worker rights. What is Ballot Measure 119?
The mission of the United Cannabis Business Association is to establish a comprehensive, statewide cannabinoid policy. It is in that same spirit that UCBA has spent the last three years advocating for responsible consumable hemp policy. Such a policy includes equal safety testing requirements to protect public health.
Every year, employers find themselves revisiting their marijuana and drug testing policies to account for newly enacted laws at the state and local level. At that time, many employers will be prohibited from taking certain actions in the absence of clear policies addressing marijuana use or evidence of impairment. Connecticut.
Although permitted under state law, a Nevada employee may still face discipline under a company’s drug policy. To address that concern, the Nevada Legislature passed a law requiring employers to attempt to make reasonable accommodations for its employees’ use of medical cannabis outside of the workplace.
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.
According to the county Land Use & Environment department, the review process “would cover the broadest scope of cannabis operations … (and) begins the work to open the cannabis industry’s commercial opportunities to more businesses.” both in San Diego.
Hybrid Financial has agreed to comply with all applicable securities laws and policies of the TSXV, and any other exchange upon which the Shares are traded, in providing its services. EDMONTON, AB , June 2, 2021 /CNW/ – Nova Cannabis Inc. is available at www.sedar.com and the Company’s website at www.novacannabis.ca.
House of Representatives’ Small Business Committee will hold a hearing on Wednesday on the challenges and opportunities small businesses face in the cannabis industry. Governor John Bel Edwards (D) of Louisiana signed legislation into law giving patients the option to inhale medical cannabis through vaporization.
Since that policy shift, a drug with public safety stigmas has essentially given the city some advantage on bridging funding gaps in historically underfunded priorities, and has even earned praise from the Orange County Grand Jury in a new June 3 report.
Massachusetts municipalities have collected more than $53 million in “impact” fees from cannabis companies since the launch of adult-use sales in 2018, according to a Northeaster University study published by the Massachusetts Cannabis Business Association outlined in a Boston Globe report. Read More at .
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?
DALLAS–(BUSINESS WIRE)– $ACB #GENH –Generation Hemp, Inc., a Dallas/Fort Worth based midstream hemp company (OTCQB: GENH) and its wholly-owned subsidiary, GENH Halcyon Acquisition, LLC (collectively the “Company”), today announced that its Chairman and CEO, Gary C. Generation Hemp Chairman and CEO, Gary C.
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. Authored By: By Dr. Ayoka Nurse.
CPA’s” PUBLISHER: CANNABIS LAW REPORT. CCIA Policy Conference What’s Missing? – On Wednesday, March 20, 2019, the California Cannabis Industry Association (“CCIA”) will host its 4th Annual Policy Conference in Sacramento, California. AUTHOR: “Jordan Zoot. “aBIZinaBOX Inc.,
Drug Enforcement and Policy Center, August, 2022. Moritz College of Law. 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. Cat Packer. Independent.
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. Colorado (pop.
The Supreme Court’s holding last Monday affirmed the principle that Congress does not have the power to order states to pass or refrain from passing laws. Murphy holds that state-law repeals are not pre-emptible. The federal government just cannot prescribe what shall be orthodox in marijuana policy. NCAA, et al.,
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.
Although cannabis is still classified as a controlled substance at the federal level, New York State recently enacted the Marijuana Revenue and Taxation Act (MRTA), a law legalizing adult-use cannabis within the state. What constraints does the MRTA place on the location of these businesses? Questions abound, however.
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.
Additionally, on June 18, 2019, the Governor signed into law an emergency bill increasing the amount of marijuana and marijuana products that a caregiver may wholesale to other caregivers and dispensaries from 30% of annual yield to 75% of annual yield. In fiscal year 2023, Maine is banking on $33.2
Although not specifically about the cannabis sector this paper talks about developing agri-businesspolicies that will work for Africa and not multinationals that are foreign-owned. Agenda 2063 is Africa blueprint and master plan for transforming Africa into the global economic powerhouse in the near future.
The Fireside Chat series of NCIA’s #IndustryEssentials webinars are an exclusive monthly opportunity for NCIA members to hear from our government relations team and guests about the latest developments in federal policy LIVE. Clearly, policymakers are interested in cannabis tax policy, but to what end? How is the IRS enforcing it?
PORTLAND, Oregon—March 1, 2023—Regulatory compliance firms Allay Consulting and The GMP Collective are joining forces amid the rapid national growth of the cannabis, hemp and emerging psychedelics sectors, with a focus on current Goods Manufacturing Practices (cGMP) compliance.
Lesotho’s Prime Minister, Dr Moeketse Majoro and six cabinet members visited Bophelo on 19 May 2021 where they met Louisa Mojela, Bophelo’s founder and now chairperson of its Toronto-based owners, Halo Collective. Bophelo is the first cannabis business globally to be part of a special economic zone that brings significant benefits.
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. FL resident? Update : H.333
Collectively, the four aforementioned newly legal states are projected to earn $4.5 Let’s take a look at some key business details and projections for those newly legal states: 1. Legal Cannabis Business Framework . Legal Cannabis Business Framework . billion in annual sales by the fourth year of operation. Connecticut.
There has been a recent flurry of movement – both in the courts and in state legislatures – on the marijuana law front across several states. The laws’ employment provisions were effective immediately, but they do not become operative until the New Jersey Cannabis Regulatory Commission (“CRC”) adopts implementing regulations.
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.
Director of Policy (Deputy Director, NS) #10901. The Policy Director will also oversee the development and implementation of the Office’s public health educational campaign as well as the monitoring, surveillance, and reporting on key metrics related to the impacts of cannabis legalization. Range From $112155 to $141538 Annually.
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
Every year, the IRS collects billions of dollars from cannabis business owners. Section 280E of the internal revenue code states that businesses “trafficking in controlled substances … prohibited by Federal law” may not deduct any expenses incurred in producing, distributing, and selling that product.
The manufacture, distribution, and possession of cannabis is illegal under federal law, which categorizes it as a Schedule 1 controlled substance. This prohibition stands in contrast to the 18 states that have “legalized” recreational cannabis use and the 37 states that have enacted laws regulating cannabis use for medical reasons.
According to state law, providing sales tax revenues to the public would be detrimental to the existing businesses when there are only two. “If If we gave out information or precise information about how much marijuana sales tax is collected by one business.
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. ” sba loans. montana update.
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