Blog Archives - Page 31 of 82 - The Real Dirt with Chip Baker

Connecticut Cannabis Legalization Bill Headed to Governor

by The Real Dirt | Jun 18, 2021 | 420 News, Blog, Cannabis Law, Cannabis Law and Compliance, Cannabis News, Legalization, Politics

Connecticut cannabis legalization has been passed in the senate

Connecticut has become the latest U.S. state to pass legislation authorizing adult recreational use of marijuana. Washington D.C., Guam, and Commonwealth of the Northern Mariana Island have also legalized adult recreational use.

On Thursday, the state’s legislature voted to broaden its policy that so far has limited use of the drug for medical purposes. Gov. Ned Lamont, who helped introduce the bill, is expected to sign the bill into law.

“It’s fitting that the bill legalizing the adult use of cannabis and addressing the injustices caused by the war of drugs received final passage today, on the 50-year anniversary of President Nixon declaring the war,” Lamont said in a statement on Thursday. “The war on cannabis, which was at its core a war on people in Black and Brown communities, not only caused injustices and increased disparities in our state, it did little to protect public health and safety.”

Under Senate Bill 1201, approved by the state’s senate on Thursday, slated to become effective on July 1, adults 21 and older can legally purchase and possess marijuana for recreational use. Individual possession limits are capped at 1.5 ounces of cannabis or equivalent cannabis concentrate, with up to 5 ounces of cannabis or equivalent cannabis concentrate permitted in a locked container.

Recreational retail sales are not scheduled to begin until May of next year, according to the measure. And residents looking to grow marijuana plants for their own recreational use will have to wait to do so until 2023. Home cultivation for authorized medical patients can begin as soon as October this year.

In February, Lamont published revenue projections estimating that sales from an adult-use cannabis program starting in May 2022 would generate tax revenues of approximately $33.6 million by fiscal year 2023. According to the estimate, that number would jump to $97 million by fiscal year 2026.

The vote by Connecticut’s lawmakers comes amid a wave of recent state legalizations, including by regional neighbors New Jersey and New York, and others still scheduled to take effect this year.

New Jersey residents officially voted to legalize recreational weed beginning January 1. New York followed and green-lighted adult use on March 31.

Read Full Story on Yahoo Finance

Weedmaps joins Nasdaq with $579 million infusion

by The Real Dirt | Jun 17, 2021 | 420 News, Blog, Business, Cannabis Law and Compliance, Cannabis News, Industry News, Legalization

Cannabis advertising platform Weedmaps started trading on the Nasdaq on Wednesday in the wake of the completion of its merger with special purpose acquisition company Silver Spike Acquisition Corp.

The transaction brought California-based Weedmaps, a leading but sometimes controversial online marketplace for cannabis consumers and businesses, $579 million in gross proceeds, according to a news release.

In connection with the closing of the deal, Silver Spike changed its name to WM Technology. Its Nasdaq ticker symbol is MAPS.

Shares were up 9% Wednesday at more than $20 each.

The transaction was approved unanimously by Silver Spike’s board of directors. It also was approved by stockholders at a special meeting last week.

Chris Beals, Weedmaps chief executive officer, said in a release that the merger will enable the company to accelerate its growth as it benefits from ongoing legalization across the country.

For the year ended Dec. 31, 2020, the company generated net income of $39 million on $162 million in revenue.

Weedmaps, which has been operating as WM Holding Co., has run into issues with regulators in recent years.

In early 2018, California regulators ordered the company to stop carrying advertising from illegal cannabis retailers.

Weedmaps also was the focus of a federal investigation at least partially tied to its relationships with licensed and apparently illicit California companies.

Original Story from MJ Biz Daily

Louisiana Marijuana Decriminalization Signed into Law by Governor

by The Real Dirt | Jun 16, 2021 | 420 News, Blog, Cannabis Law, Cannabis Law and Compliance, Cannabis News

A bill to decriminalize the possession of small amounts of marijuana for personal use in Louisiana will become law after Gov. John Bel Edwards signed the legislation from Democratic Rep. Cedric Glover Tuesday.

“This is not a decision I took lightly,” Edwards said. “The state of Louisiana should no longer incarcerate people for minor legal infractions, especially those that are legal in many states, that can ruin lives and destroy families, as well as cost taxpayers.”

Although Edwards said the bill won’t technically “decriminalize” possession of small amounts of pot, the penalty would be less than most speeding tickets.

The bill would make possession of 14 grams or less — about half an ounce — a misdemeanor in all cases and limit the fine to $100 with no jail time. It takes effect Aug. 1.

Glover said he believes House Bill 652, which is based on a local ordinance passed in Shreveport, found a sweet spot with those whose attitudes about weed are evolving but who don’t yet support full legalization.

“One thing I think we can find common ground on is the belief that the possession of small amounts of marijuana should not lead you to jail or to become a felon,” Glover has said repeatedly. Glover formed a rare alliance with conservative Shreveport Republican Rep. Alan Seabaugh, whose amendment in the House set the parameters for penalties.

“It essentially provides for the officer to write a ticket with no jail time,” Seabaugh said then. Louisiana had been one of 19 states that haven’t either legalized pot or decriminalized it.

The bill does not alter the penalties for someone who is distributing marijuana, only for possession. A bill from Republican state Rep. Richard Nelson that would have legalized the sale and use of marijuana died in the House earlier in the session.

But a bill from Republican Houma Rep. Tanner Magee adding smokable cannabis to the state’s medical pot program options has already won final passage and also has the governor’s support.

Original Story from Town Talk

NFL Paying $1 Million to Fund Cannabis Research

by The Real Dirt | Jun 16, 2021 | 420 News, Blog, Cannabis Law, Cannabis Law and Compliance, Cannabis News, Culture, Medical Marijuana

After putting out a formal request for information about pain management alternatives to opioids in February, the NFL and NFL Players Association are providing $1 million to fund research on cannabinoids and pain relief, according to Front Office Sports.

“While this represents a different stance by the league, it’s still conservative compared to players who use cannabis or cannabis products – particularly CBD, a non-psychoactive cannabinoid that has gained mainstream acceptance,” per FOS.

The NFL did shorten the window during which it tests players for THC and raise the threshold to trigger a positive test last season, but players can still be fined several weeks’ salary and be forced to join a treatment program for testing positive for the inhibiting chemical in marijuana. Though it shouldn’t be the case, that currently makes the use of CBD – which both past and current players swear by – somewhat of a grey area in the NFL.

In the February information request, the NFL-NFLPA’s pain management committee said it was looking for information including:

The potential therapeutic role of medications and non-pharmacological interventions that are considered to be alternatives to opioids in routine pain management of NFL players. Medications may include, but are not limited to, cannabinoids such as cannabidiol (“CBD”).
The impact of cannabis or cannabinoids on athletic performance in NFL players.
The potential therapeutic role of medications and non-pharmacological interventions that are considered adjunctive to routine post-surgical orthopedic pain management in NFL football players.

Nothing is for certain, but it seems like a good assumption the new funding will be used to delve into some of the areas mentioned above.

“This isn’t an NFL or a sports issue; this is a societal issue,” the NFL’s chief medical officer Allen Sills told Bloomberg.

Original Story from Green State

California offers $100 million to rescue struggling legal marijuana industry

by The Real Dirt | Jun 15, 2021 | 420 News, Blog, Business, Cannabis News, Growing, Industry News, Legalization

California legal marijuana industry is getting $100 million from government for support

SACRAMENTO — The California Legislature on Monday approved a $100-million plan to bolster California’s legal marijuana industry, which continues to struggle to compete with the large illicit pot market nearly five years after voters approved sales for recreational use.

Los Angeles will be the biggest beneficiary of the money, which was proposed by Gov. Gavin Newsom to be provided as grants to cities and counties to help cannabis businesses transition from provisional to regular licenses.

“California voters approved Proposition 64 five years ago and entrusted the Legislature with creating a legal, well-regulated cannabis market,” said Assemblyman Phil Ting (D-San Francisco), the chairman of the Assembly Budget Committee. “We have yet to reach that goal.”

Many legal marijuana growers, retailers and manufacturers have struggled to make the transition from a provisional, temporary license to a permanent one renewed on an annual basis — a process that requires a costly, complicated and time-consuming review of the negative environmental effects involved in a business and a plan for reducing those harms.

As a result, about 82% of the state’s cannabis licensees still held provisional licenses as of April, according to the governor’s office.

The funds, including $22 million earmarked for L.A., would help cities hire experts and staff to assist legal marijuana businesses in completing the environmental studies and transitioning the licenses to “help legitimate businesses succeed,” Ting said.

The grant program is endorsed by Los Angeles Mayor Eric Garcetti, who said in a letter to legislators that the money is “essential in supporting a well-regulated, equitable, and sustainable cannabis market.”

Separately, the governor wants to give legal marijuana businesses a six-month extension beyond a Jan. 1 deadline to transition from provisional licenses by complying with mandates of the California Environmental Quality Act. That extension, which faces opposition for delaying promised environmental safeguards, was not included in the state budget bill approved Monday and is still being negotiated with lawmakers.

The governor’s proposal to extend provisional licenses has drawn objections from a coalition of seven environmental groups including Sierra Club California, Defenders of Wildlife and the Nature Conservancy.

They said in a letter to Newsom that the proposal allowing the extension of provisional licenses and interim alternatives to CEQA rules goes against what voters were promised and is “wholly inadequate to protect local communities and the environment.”

Read Full Story on Los Angeles Times

Nevada Governor Signs Multiple Marijuana Reform Bills

by The Real Dirt | Jun 14, 2021 | 420 News, Blog, Cannabis Law, Cannabis Law and Compliance, Cannabis News, Industry News, Legalization

nevada governor passed more cannabis reform bills last week

Carson City, NV: Democrat Gov. Steve Sisolak has signed multiple marijuana reform bills into law.

On Monday, the Governor signed Assembly Bill 341. The new law, which takes effect on October 1, 2021, provides regulations for the establishment of on-site “cannabis consumption lounges” for those ages 21 and older. Regulators must still determine the specific types of cannabis products that are “appropriate for consumption” in the facilities.

Alaska and Colorado have previously enacted legislation explicitly permitting social consumption sites for cannabis, and New York’s nascent adult-use law also regulates on-site facilities. Similar legislation is currently pending in California.

Late last week, the Governor signed Assembly Bill 400 into law. It amends the state’s traffic safety statutes so that the operation of a motor vehicle with trace amounts of either THC or its metabolite is no longer a per se violation of law. The new law takes effect on October 1, 2021.

Under the state’s existing traffic safety laws, it is illegal to operate a motor vehicle with low levels of either THC or the 11-hydroxy-THC metabolites in one’s blood or urine, even absent any further evidence of psychomotor impairment. The revised measure eliminates the application of those limits in certain circumstances.

NORML has consistently opposed the imposition of THC per se limits, opining that such thresholds are not evidence-based and that they may lead to the criminal prosecution of people who consumed cannabis several days previously but are no longer under its influence.

Also on Friday, the Governor signed Assembly Bill 158, which revises first-time penalties imposed upon minors who possess small quantities of cannabis. It reduces existing penalties — which include up to six-months in jail and a $1,000 fine — to community service. The measure also requires courts to automatically seal records for these offenses if the offender completes the term of their sentence. The new law takes effect on July 1, 2021.