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New Jersey prepares to launch recreational cannabis market

New Jersey prepares to launch recreational cannabis market

New Jersey recreational cannabis sales to start soon

New Jersey’s recreational cannabis market is gearing up to launch within weeks and is poised to become one of the largest on the East Coast with annual sales projected to top $2 billion within a few years.

The state is positioned to beat rival New York to the punch and to match, if not exceed, Massachusetts in annual adult-use sales.

But, like most new markets, industry officials are concerned about whether supply will be adequate to meet demand – at least in the early stages.

New Jersey’s adult-use market – approved by voters in November 2020 – is expected to launch with only a handful or so of the state’s existing medical cannabis operators.

The start of recreational marijuana sales also comes as social equity applicants are struggling to develop their business know-how, raise funds and secure real estate.

Existing medical marijuana operators might get as much as an 18-month head start on some new cannabis businesses, an industry expert said.

Missed deadline

The recreational marijuana law implementing the voter initiative called for sales to begin by Feb. 22, 2022, but the state ignored that deadline, saying it was too early.

Gov. Phil Murphy then hinted in late February that the market could launch “within weeks,” and state regulators indicated recently that they were nearly finished reviewing applications by five current MMJ operators.

Industry officials say that the state’s Cannabis Regulatory Commission could take up and approve those applications at its March 24 meeting, but it’s unclear how quickly sales would then be allowed to begin.

“We could have only five operators trying to meet the initial demand of the entire state,” said Rob DiPisa, co-chair of the cannabis law practice at Cole Schotz in New Jersey.

“It’s almost naive to think we aren’t going to run into some issues.”

While that’s been the case in other new adult-use markets as well, the New Jersey recreational marijuana law included provisions intended to prevent negative fallout for the state’s roughly 120,000 MMJ patients.

MJBizDaily projects that New Jersey recreational marijuana sales will ramp up from $625 million to $775 million in 2022 to more than $2 billion a year by 2025 or 2026.

Medical marijuana sales, meanwhile, are expected to peak by 2023 and then begin declining, as has been the trend in most adult-use states.

Tennessee Medical Marijuana Bill Introduced

Tennessee Medical Marijuana Bill Introduced

Tennessee medical marijuana bill would legalize medical cannabis

A bill introduced to the Tennessee General Assembly in early February that would legalize medical marijuana in the state has moved into the Senate Judiciary Committee for discussion. SB 2477 and HB 2458 were introduced by Reps. Janice Bowling (R) and Iris Rudder (R) respectively.

These bills together establish the framework for a regulated Tennessee medical cannabis industry. Patients with qualifying conditions would be able to purchase cannabis products from licensed retailers. Licensing and regulations for cultivation, production, distribution, transport, selling, and acquiring cannabis for medical use and research will be created.

Tennessee medical marijuana cards will be available to patients and caregivers. Patients and caregivers must be 18 years or older to obtain a medical marijuana card. However a caregiver may not use medical marijuana without having a qualifying condition themself. A Tennessee medical marijuana card will be valid for two years, with an option for renewal.

The bill requires a patient registry to be established by June 1, 2023. This includes application forms and procedures for obtaining patient and caregiver medical marijuana cards, and an integrated, electronic system for tracking the application process and the status of medical marijuana cards.The commission must ensure that a process is available for healthcare providers to electronically report a qualifying diagnosis as part of the patient medical cannabis card registry process by September 30, 2022.

This Tennessee medical marijuana bill will create the Tennessee medical cannabis commission, which will have 12 members. The Governor, Speaker of the Senate and Speaker of the House must make their initial appointments to the commission by August 30, 2022. However each member of the commission must meet specific, individual requirements which are as follows:

(1) One person with professional experience in industrial or agricultural systems management, including commodities, manufacturing, or distribution in a regulated industry;

(2) One person with professional experience in legal or social justice issues related to a regulated industry;

(3) One person with professional experience in public health, mental health, substance use, toxicology, biochemistry, or medical research and

(4) One person with professional experience in the field of law enforcement and peace officer standards (POST) certification;

(5) One person with experience in multiple crop development and agricultural practices;

(6) One person with experience in complex agriculture, health, science, business, or government systems;

(7) One person who is a licensed pharmacist; and

(8) One person with professional experience in the field of law enforcement and POST certification;

(9) One person with experience in public or rural land use management;

(10) One person who is a physician licensed to practice in this state;

(11) One person who is licensed to practice law in this state; and

(12) One person with professional experience in agricultural lending or banking or with state-chartered banks or credit unions.

Each member of the commission will receive $700 for each meeting of the commission that the member attends and will be reimbursed for their actual and necessary expenses incurred in connection with their official duties.

The bill also specifies that the state will regulate medical marijuana from seed to sale to use and reasonably regulate and control all aspects of industry. Any county or municipality seeking to ban the cultivation, processing, manufacture, or sale of medical cannabis may do so by a two-thirds vote of the local legislative body. This must be done by April 1, 2023.

Tennessee medical marijuana law will impose a 9% tax rate on retail medical marijuana sales, with an additional 2.1% maximum permitted from counties or municipalities. The bill also includes a 10% excise tax applied to net earnings.

Tax collected from the retail sale of Tennessee medical marijuana will be apportioned and allocated in the following manner:

(1) Five percent to the POST commission for opioid and methamphetamine drug enforcement training purposes;

(2) 25 percent to the department of agriculture for programs and grants administered by the department that facilitate agricultural development in this state, including, but not limited to, the agriculture enterprise fund and the Tennessee agricultural enhancement program;

(3) 20 percent to the department of economic and community development for community and rural development program grants administered by the department;

(4) 45 percent to the medical cannabis fund; and

(5) Five percent to the department of veteran’s services for programs administered by the department that provide treatment for veterans diagnosed with post-traumatic stress disorder.

Lastly, the bill will license medical cannabis cultivation operations which will be able to sell and distribute cannabis products to retail dispensaries. The bill currently does not include any cap on how many licenses may be given out for cultivations.

The bill will allow the following medical conditions to quality for Tennessee medical marijuana: cancer; glaucoma; epilepsy; HIV/AIDS; Crohn’s disease; muscular sclerosis; opioid addiction; renal failure; severe nausea or chronic pain and many more. The commission may, by rule, add other qualifying conditions at any point.

Read the full text of the bill here.

Missouri Cannabis Legalization Bill Introduced

Missouri Cannabis Legalization Bill Introduced

Missouri cannabis legalization bill introduced

Missouri is trying to introduce legal cannabis. It remains to be seen if it will pass or remain unattainable for the state.

A Missouri lawmaker introduced a comprehensive bill to legalize recreational cannabis on Tuesday. The measure, titled the Cannabis Freedom Act (HB 2704), was introduced in the Missouri House of Representatives by Representative Ron Hicks, a Republican from St. Charles.

If passed, the bill would legalize cannabis for adult-use, regulate recreational cannabis commerce and expunge convictions for past cannabis-related offenses. In a statement, Hicks acknowledged the assistance from interested parties and an Oklahoma colleague in drafting the legislation.

“The Cannabis Freedom Act is the product of input from many different stakeholders including members of law enforcement and those who have endured incarceration for conduct that society now deems acceptable,” Hicks said. “I am particularly grateful for input from Oklahoma State Representative Scott Fetgatter for his assistance in creating a free market program that is also strictly regulated.”

Missouri Cannabis Legalization Bill Permits Possession and Sale

Under the bill, adults 21 and older would be permitted to purchase and use recreational cannabis. Adults would be also be allowed to grow up to 12 cannabis plants at home for personal use.

The bill tasks the Missouri Department of Agriculture with regulating the recreational cannabis program. The department would draft the rules for the program and issue licenses for cannabis producers, manufacturers, distributors, and retailers, without caps on the number of licenses that could be issued to qualified cannabis businesses.

The Cannabis Freedom Act directs the state Department of Revenue to set a tax of up to 12 percent on recreational cannabis products. Medical cannabis purchases by registered patients would not be subject to the retail tax. Revenue raised by marijuana taxes would be used to administer the recreational cannabis program, with the remainder divided equally among the Missouri Veterans Commission and funding for teachers’ salaries and pensions for first responders.

Thailand legalizes growing cannabis at home

Thailand legalizes growing cannabis at home

Thailand legalizes growing cannabis at home

BANGKOK (Reuters) – Thailand’s narcotics board on Tuesday said it would remove cannabis from its drugs list, paving the way for households to grow the plant.

Thailand became the first Southeast Asian country to legalise marijuana in 2018 for medical use and research.

Under the new rule, people can grow cannabis plants at home after notifying their local government, but the cannabis cannot be used for commercial purposes without further licenses, Health Minister Anutin Charnvirakul told reporters.

The rule must be published in the official Royal Gazette and 120 days must pass before home cannabis plants will become legal.

Meanwhile, the health ministry will this week present to parliament a separate draft bill which provides details on the legal use of cannabis, including its production and commercial use, including guidelines on recreational use.

Homegrown cannabis should be used for medical purposes like traditional medicine, food and drug regulator chief, Paisal Dankhum has said previously and that there would be random inspections.

The draft bill punishes growth of cannabis without notifying the government with a fine of up to 20,000 baht ($605.33) and prescribes a fine of up to 300,000 baht or three years in jail, or both, for selling it without a license.

The move is the latest step in Thailand’s plan to promote cannabis as a cash crop. About a third of its labour force works in agriculture, according to the World Bank.

Thailand plans to legalize cannabis in 2022

Thailand plans to legalize cannabis in 2022

Thailand Ministry of Health to legalize cannabis

The Ministry of Public Health of Thailand stated that it will push for the legalization of cannabis in 2022.

As reported by the Bangkok Post, the country had already removed cannabis stems and branches from its list of category 5 narcotic substances but kept flowers and buds.

However, the new Narcotics Code, which came into force last Thursday, no longer includes cannabis and hemp.

According to the Thai newspaper, Health Minister Anutin Charnvirakul outlined the next goals in the regulation of the plant: “What we have achieved so far is to declare that cannabis stems, roots, and leaves are not drugs. Starting next year, we will remove everything – stems, roots, leaves, buds, flowers, and seeds – from the list of narcotic drugs.”

Cannabis And Hemp In Thailand

The only exception to the new rule is that CBD extracts with a THC percentage higher than 0.2% will not be allowed. Charnvirakul justified this by saying that “the figure has not been set unilaterally by Thailand. It is the standard of the World Health Organization.”

In the meantime, once the new narcotics schedule comes into effect, all cannabis-derived products (such as oil, soap, cosmetics, and supplements, which normally have less than 0.2% THC) will be authorized in the country.

The objective behind the relaxation of cannabis regulations is to stimulate the economy, agricultural tourism, and encourage people to grow and process cannabis to supplement their income.

Thus, residents of the country who wish to grow cannabis at home will be able to do so without quantity restrictions. The only requirement is to obtain permission from local authorities before doing so.