Marijuana Legalization in Florida? This Week in Cannabis Investing
The real action in cannabis continues at the state level despite the federal government dragging its feet. Efforts have been made to make recreational weed legalization a reality in Florida. The state of Florida has been one of the most successful medical cannabis programs in the US in the last few years.
The proposed "Adult Personal Use of Marijuana" is gaining steam. The initiative has collected about 150,000 signatures.
Better-informed investors are smarter.
There are many benefits of weed legalization in Florida from a societal and economic standpoint, not to mention the political gains for the industry with another red state going adult use. Real money and attention are focused on making sure adult recreational cannabis use passes in Florida.
In Vermont, legal cannabis retail is growing fast.
Vermont's adult-use market is showing strong growth. In Vermont, recreational sales of weed did not start until October 2022. There are 25 stores that have opened in Vermont, with four more to open in a month.
In its first month of sales, Vermont generated over $2 million in adult-use sales and projects to make $65 million in the next five years. Vermont doesn't get a lot of media attention because of its limited ability to raise capital. This is a positive for the citizens because they will be able to purchase cannabis legally. Vermont has a long history with cannabis, and it's great to see it thriving.
New York's first legal cannabis retailer will open its doors on New Year's Eve, making it the second legal cannabis state.
The first state-sanctioned dispensary in New York is the Housing Works Cannabis Company. Following the legalization of cannabis in the Empire State, there will be a number of dispensary openings.
The first dispensary to open is Housing Works. In keeping with the state's social-equity efforts, Housing Works is a minority-controlled social-service agency that serves people with HIV and AIDS as well as the homeless.
"We're thrilled to be the first and hopefully setting a model that other people will have to follow," said Charles King, CEO of Housing Works. The location is ideal. We are between the West and East Villages. It is easy for tourists to come by here. We think we're going to get a lot of business here.
Cannabis Legalization comes with a cost
Many adult-use states have been launched by Team Poseidon. It's exciting to see people celebrate cannabis legalization for the first time, and it's a great reminder of what this industry has accomplished since Colorado's first sales in January. New York is off to a rocky start, but with the legal cannabis program underway, we will keep an eye on it.
Federal tax deductions for cannabis businesses are explored by congress.
The Senate failed to pass the SAFE Banking Act in the last days of the year, after a year of growing support for cannabis. SAFE Banking would have given cannabis businesses access to financial institutions and given them a path to placement on the major stock exchanges. The cannabis industry needs to learn from the painful memories of SAFE's failure to pass.
Federal tax reform in cannabis could be the next step to see substantial improvement and growth in the cannabis industry. Businesses of all sizes are affected by the tax burden on cannabis operators in the U.S. Legal cannabis businesses have more tax burdens than other businesses, which is a problem for the industry. Repealing 280E is the most powerful step that can be taken to help small cannabis businesses.
Nancy Mace filed a bill on the last day of the year to address the issue. The bill will need to be reintroduced in 2023 with a less appealing composition of House and Senate members. We need more work from our industry to put pressure on our elected officials to get things done. The industry's future is in its own hands.
Keywords: cannabis, Cannabis Businesses,state, Housing Works
Minnesota Lawmakers Unveil Revised Marijuana Legalization Bill, With Committee Hearing Scheduled Next Week
Legislators in Minnesota have introduced a marijuana legalization bill and have next steps to take.
At a press conference on Thursday, the House and Senate sponsors of a revised legalization bill were joined by leaders of each chamber as well as advocates to preview the legislation.
The House Commerce Committee will hold a hearing on the proposal next week.
In Minnesota, cannabis should be legal. "Minnesotans deserve the freedom and respect to make their own decisions about cannabis." Our current laws are harmful.
The people of Minnesota are ready. Adult use of cannabis will be legalized in Minnesota in 2023. We introduced legislation today. The first committee hearing will be next week.
January 5, 2023 is when the new year begins.
Port said that they are ready to act and that they have heard about it in their communities.
It is time. Adult-use cannabis will be legalized in Minnesota this year.
In order to build the same kind of bipartisan support that has been built in the House, the Senate will be taking time to educate members. She hopes the initial committee hearing will be held as soon as possible.
The legislation is an iteration of a bill that was passed in the House. A grassroots effort to build support for reform will be led by that group.
The November election put the Democrats in control of the Senate and gave them a majority in the House.
The governor supports ending cannabis prohibition.
It is time to expunge cannabis convictions in Minnesota.
The new bill is in line with the legislation that was passed by the Senate in the past. There are a few changes to the legislation.
There is a new license category for businesses that sell lower-potency products under the new Minnesota law.
If they have a liquor license, they would be able to allow on-site consumption if they sell low-THC beverages.
Adults can purchase up to two ounces of cannabis and cultivate up to eight plants, four of which could be mature.
They could have up to two ounces in a public place and up to five pounds in a private home.
Adults would be allowed to give up to two ounces of marijuana for free.
It would promote social equity by making licensing more diverse.
Marijuana records would be wiped clean. The Bureau of Criminal Apprehension has the responsibility of identifying people who are eligible for relief.
The creation of a system of licensed cannabis businesses could also be done by the governments.
Cannabis delivery services would be allowed under the bill.
Local municipalities would not be allowed to prohibit marijuana businesses from operating in their areas, but they could set "reasonable" regulations on the time and location of those businesses.
The tax on retail cannabis sales is eight percent.
Substance misuse treatment programs would be funded by part of that revenue.
The Office of Cannabis Management would regulate the market and issue licenses.
A division of social equity would be created.
Priority licensing would be given to people living in low-income neighborhoods and military veterans who lost honorable status due to a cannabis-related offense.
Liquor stores are not allowed to sell marijuana products in the current statute.
The Board of Pharmacy rules regarding synthetic cannabinoids were put in place last year.
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The bill development processes of any legislation in the history of the legislature have been engaged in by us. Minnesotans will be able to grow, sell and buy cannabis if they choose to do so.
The caucus believes that the marketplace should be structured to benefit people who were harmed by the previous prohibition regime, and to benefit local and small over big and national. If they choose to, that includes engaging with tribal communities.
Cannabis being illegal in Minnesota has done more harm than good, according to the Senate.
Adult-use cannabis should be legalized and records expunged. It is time to legalize it.
January 5, 2023 is the date of the Minnesota Senate.
The main goal of the legislation is to address the wrongs of prohibition, and it doesn't allocate special funding for various projects like other states have.
She said that cannabis taxes wouldn't solve any of the social problems. We won't use cannabis taxes to fix the education changes that our communities need, to build all the affordable housing that we need, to fix all the infrastructure that we need.
The time has come to end cannabis prohibition.
Legislators from the DFL introduced a bill to expunge cannabis convictions and create a safe, regulated market.
With Democrats in control of both chambers, lawmakers and the governor are optimistic about the chances of legalization.
Democrats agreed to discuss the issue after their election victory.
The speaker of the house said recently that she expects cannabis reform to be included in the budget request of the governor.
Marijuana reform was not included in a list of legislative priorities released by Democrats on Tuesday.
In his last budget request, the governor included funding for legalization, but it was not enacted. He and Hortman have differing opinions about how quickly the issue can be advanced, with Walz recently saying it would be done by May.
The assistant leader in the new DFL Senate majority believes that legalization will pass this session, though he agrees with the speaker that there is a question of timing.
Two polls released in September found that the majority of Minnesota residents support adult-use marijuana legalization, and one survey showed that even more Minnesotans approve of the state's move to legalize marijuana-infused with the cannabinoid THC.
The House conducted a survey at the State Fair that found majority support for legalization. A majority of Minnesotans support the legalization of cannabis for adult use.
The number of fairgoers who supported the issue this year was higher than last year. A majority of people in the House support legalization.
Keywords: Cannabis, Minnesota, House, Minnesota House DFL