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New laws expanding the medical marijuana program in Louisiana went into effect on August 1. The state’s medical marijuana program has been criticized for being too limited and too restrictive since the program was established in 2016, but the three laws that went into effect on Saturday aim to improve the situation.
House Bill 1359 would create a 5 year medical marijuana pilot program, allowing patients to access their medicine from licensed dispensaries. Legislation is pending, House Bill 1648, to remove all criminal and civil penalties for the use, possession, and cultivation of marijuana by adults. FL resident? IN resident? New Hampshire.
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.
These multi state operators (MSOs) need to take the specific requirements of each state into account in every aspect of their business, from product types offered to how they bank. What are some of the issues that impact an MSO’s ability to access banking? Why MSOs face unique banking challenges. What are multi-state operators?
House Financial Services Committee has passed The Safe Banking Act, HR 1595 out of committee this week. Governor Jim Justice (R) of West Virginia signed legislation into law that allows financial institutions to provide banking services related to the state’s medical marijuana program. House Judiciary Committee.
Legislation is pending, AB 286, to temporarily reduce tax rates imposed on the retail sale and commercial cultivation of cannabis. Click here to email your lawmakers in support of compassionate care programs. Click here to email your lawmakers in support of banking access. California. CA resident? CA resident? HI resident?
Here’s the introduction to their piece………… Saint Vincent and the Grenadines has started its long-awaited cannabis cultivation amnesty program, a major move to pivot cultivators of illicit cannabis into the legal industry. Click the links below to view: Cannabis Cultivation (Amnesty) Bill, 2018.
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. MO resident?
Legislation is pending, AB 286, to temporarily reduce tax rates imposed on the retail sale and commercial cultivation of cannabis. Click here to email your lawmakers in support of protecting compassionate care programs. Click here to email your lawmakers in support of banking access. CA resident? CA resident? CT resident?
The refreshing aspect of visiting Hatch dispensaries is that they are not integrated with a cultivator. Hatch associates do not have to push any specific brands but instead offer a wide variety of products from cultivators across Illinois. Hatch also accepts cashless payment through Aeropay.
House Financial Services Committee has scheduled to convene a markup on The Safe Banking Act, HR 1595 on Tuesday, March 26th. Senate Bill 34 would exempt compassionate care programs from paying state cannabis taxes when they are providing free medical cannabis to financially disadvantaged people living with serious health conditions.
Legislation is pending, House Bill 2980, to amend the Illinois Banking Act and the Illinois Credit Union Act in a manner that facilitates banks and other financial institutions to safely conduct transactions with licensed marijuana businesses. Click here to email your lawmakers in support of banking access. IL resident?
With the company’s previously announced acquisition of OhiGrow, LLC, one of 34 licensed cultivators in Ohio, and Ohio Green Grow LLC (collectively, “OhiGrow”), Jushi expects to start its first cannabis plants this month at the OhiGrow facility in Toledo, Ohio. ” View original article.
At the state level, Governor Doug Burgum of North Dakota signed a package of bills into law to expand the state’s medical cannabis access program. Days later, the Chief Deputy announced that the cite and release program will be put on hold, without further details. Click here to email your lawmakers in support of banking access.
BTIG is a global financial services firm specializing in institutional trading, investment banking, research and related brokerage services. Lyon leads the firm’s research effort and focus on cannabis. His coverage of U.S. MSOs complements Mr. Catherwood’s longstanding REIT coverage, which is inclusive of cannabis-related REIT companies.
We note that SAFE Banking is still a topic of conversation on Capitol Hill, and that cannabis made an appearance in this year’s National Defense Authorization Act. CAPITOL HILL SAFE Banking is getting some rhetorical love in the Senate. This week, we remind everyone that retail sales of cannabis will begin on Saturday in Maryland.
In 2016, Pennsylvania adopted Act 16, becoming one of 38 states that have medical marijuana programs in the United States. While COVID fast-tracked certain aspects of the PA cannabis industry, major hurdles, like access to proper banking services, still plague operators in the space. January 6, 2022. Author Jay Majitov.
monetary banking protocols in banking cannabis and hemp operations. This honor is part of a financial services certification program overseen by the Policy Center for Public Health & Safety (PH&S) in collaboration with state attorneys general. . ALBUQUERQUE, N.M. , Dec. Department of Treasury and FinCEN.
For many, it feels like Alabama’s medical cannabis program has been a work in progress for years. The Alabama Department of Agriculture and Industries, tasked with issuing rules for cultivation activities, issued its proposed rule , “Medical Cannabis Cultivation,” on May 17, 2022. It was a year ago when this all started.
INCREASING DIVERSITY Illinois cannabis program is unique in that it centers diversity and equity. In the absence of federal banking standards for the cannabis industry, the Illinois Department of Commerce and Economic Opportunity (DCEO) has grant and loan programs to support small businesses, but its not sufficient to support needed growth.
Commercial marijuana activity remains a federal crime, and the Bank Secrecy Act (“BSA”) generally prohibits financial institutions from accepting marijuana-generated dollars. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts. That is changing.
House Financial Services Committee is scheduled to hold a hearing on cannabis business banking issues next week. Legislation is pending, House Bill 708 / Senate Bill 686, to legalize the use, possession, cultivation, and retail sale of small amounts of marijuana for adults. A subcommittee of the U.S. HI resident? IA resident?
Social equity programs are a relatively new phenomenon in the U.S. That makes it worthwhile for industry insiders and activists to examine how some of the programs have done – particularly as more states, and perhaps Congress, consider legalizing marijuana and incorporating social equity in some form. The Oakland and L.A.
Senator Ron Wyden and Congressman Earl Blumenauer introduced legislation to allow for interstate commerce when it comes to state-legal cannabis programs. Click here to email your lawmakers in support of compassionate care programs. Click here to email your lawmakers in support of banking access. This week, U.S. California.
Legislation is pending, Senate Bill 34, which would exempt compassionate care programs from paying state cannabis taxes when they are providing free medical cannabis to financially disadvantaged people living with serious health conditions. Click here to email your lawmakers in support of compassionate care programs. CA resident?
In preparation, the CCA established a framework for cannabis business licensing, cultivation, manufacturing, distribution, testing, and adult-use retail sales that would be regulated by a newly formed Cannabis Control Authority. Agencies tasked with moving the program forward are currently putting their efforts on hold until after 2023.”
Tom Wolf (D) was quoted as saying in an official press release: “It’s been five years since Pennsylvania legalized medical [cannabis], and in that time the Department of Health has examined the program’s successes and challenges and made important recommendations on improving the law. Pennsylvania’s Medical Cannabis Bill: About HB 1024 .
The following year, Greek lawmakers approved a law to allow the cultivation and processing of medical cannabis with up to 0.2% tetrahydrocannabinol (THC), which was followed in 2021 by the approval of a bill to legalize the cultivation and sale of medical marijuana with more than 0.2% How do Greeks generally view marijuana?
On December 3, 2019, four federal agencies, in consultation with state banking regulators, clarified the legal status of hemp growth and production under the Bank Secrecy Act (BSA) for banks 1 providing financial services to hemp-related businesses. JD Supra Release. Background. The Joint Statement.
Legislation is pending, AB 286, to temporarily reduce tax rates imposed on the retail sale and commercial cultivation of cannabis. Click here to email your lawmakers in support of compassionate care programs. Click here to email your lawmakers in support of banking access. CA resident? CA resident? CA resident? HI resident?
Grown at Harborside Farms in Salinas, California, this selection of flower is single origin, sustainably grown and strain-specific, coming from a long line of cultivation experience and California cannabis legacy. . Premium Flower: Jushi Holdings Inc’s The Bank. Harborside’s Key Mini Pre-roll Packs contain seven strain-specific.5
Cuomo’s administration projects that legalization could generate 30,000 to 60,000 jobs across New York and that tax collection from the program could reach $350 million annually, the release states. ” Lawmakers could vote on the legislation as early as Tuesday. View original article.
This burgeoning industry encompasses a wide range of activities, including cultivation, processing, distribution, and retail sales of medical cannabis products. The establishment of cultivation, processing, and dispensary facilities creates a diverse array of employment opportunities, spanning from agricultural roles to retail positions.
Both sides of the aisle support cannabis reform, with multiple federal bills seeking to address everything from banking to social justice. Cannabis banking was originally included in the federal defense spending bill but stripped from it at the last moment. Federal Cannabis Reform (or not). Trade Samples. Emergency Regulations.
Click here to email your lawmakers in support of banking access. A package of bills, soon to be combined into one omnibus bill, to permit the use, possession, cultivation, and retail sale of marijuana for adults 21 and over is pending. Burton Hearing Room. CA resident? Connecticut. DE resident? IA resident?
Hemp Crop Report Documenting Industrial Hemp Cultivation and State Legislation in the U.S. We’ve seen hemp cultivation significantly expand in the U.S. in 2018, with over triple the number of acres planted in hemp compared to last year and the addition of 4 more states with hemp programs,” said Eric Steenstra, President of Vote Hemp.
He also pointed out inconsistencies in banking practices due to federal prohibition. Specifically, Thomas referred to legislation passed by Congress every year since 2015 prohibiting the Justice Department from interfering in states’ medical cannabis access programs. 20-645_9p6b.
Many of the 21 current cultivation facilities are expanding capacity, but it will take time before those efforts result in an increased supply of cannabis. Further, the state has no immediate plans to license any new large-scale cultivation centers. It does, however, plan to issue up to 40 licenses to smaller “craft growers” by July 1.
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Her father wanted to take the business further than cultivation and turn it into a full seed-to-sale business. Traditional methods weren’t available, like getting a loan from the bank, because the industry was still federally illegal.”. So, she left her job and jumped on board to help her father build the company, she said. . “At
It is far more cost-effective to cultivate your own cannabis than to get it from the street, a dispensary, a coffee shop, or a social club. While seed banks outside the country offer seeds for “souvenir reasons,” it is unlawful to bring marijuana seeds into the country. To Conclude.
Congressional Democrats Plan Hearing And Vote On Marijuana Business Banking. Party leaders are also laying the groundwork to vote on a marijuana banking bill soon, Marijuana Moment has learned. Congressional Democrats Plan Hearing And Vote On Marijuana Business Banking. Study: Oregon Has 6.5 Years of Cannabis Oversupply.
Thereafter, Dr. Imani Brown joined DCR as City’s First Social Equity Program Manager working to develop the program further and lend support to its platform. . Most Temporary Cultivation licenses Expired. July 2019 – Hemp Cultivation Registration. . Then, in April 2019.
million cultivated marijuana plants and made more than 6,600 marijuana-related arrests in 2021, according to annual data compiled by the US Drug Enforcement Administration. . million cultivated cannabis plants last year – a 20 percent increase over 2020’s totals. million plants via its domestic eradication program.
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