Cannabis Business Times
by Melissa Schiller
30 Jan 2021
This week, U.S. Rep. Greg Steube (R-FL) introduced the Marijuana 1-to-3 Act to move cannabis from Schedule I to Schedule III of the Controlled Substances Act. At the state level, lawmakers in North Dakota and Florida introduced adult-use legalization proposals, while a Kentucky legislator put forth a measure to legalize medical cannabis.
Here, we’ve rounded up the top 10 headlines you need to know before this week is over.
- Federal: U.S. Rep. Greg Steube (R-FL) has introduced the Marijuana 1-to-3 Act to move cannabis from Schedule I to Schedule III of the Controlled Substances Act. Although rescheduling would lift the burden of tax code 280E and make cannabis research easier, the move would not end federal prohibition entirely. Read more
- California: The California Department of Food and Agriculture (CDFA) has filed proposed emergency regulations with the Office of Administrative Law (OAL) to implement Assembly Bill 1525, which became law in September to provide the state’s licensed cannabis businesses broader access to financial services. The new law provides a safe harbor for banking institutions doing business with cannabis companies and essentially makes it easier for cannabis businesses to start relationships with banks. Read more
- After a judge ruled that cannabis billboards are illegal on California roads that cross state borders, the Bureau of Cannabis Control (BCC) has issued a notice announcing new rules for the advertisements. Under the new regulations, cannabis companies cannot place new billboard ads on any interstate highway that crosses the California border, and businesses must remove any current billboards placed along these roads. Read more
- North Dakota: Rep. Jason Dockter has sponsored an adult-use cannabis legalization bill, despite his opposition to legalizing cannabis in the state. Dockter believes legalization is inevitable as more states regulate cannabis within their borders, and says lawmakers should draft a legalization proposal instead of leaving the issue in the hands of a ballot initiative campaign. Read more
- North Dakota lawmakers are also considering legislation to update the state’s medical cannabis program. Bills pending in the state legislature would expand the list of qualifying conditions and allow access to edible products, among other changes. Read more
- Kentucky: Sen. Steve West has introduced a medical cannabis legalization bill, Senate Bill 92. The legislation would allow practitioners to recommend medical cannabis to their patients, and would legalize the cultivation, manufacturing, distribution, sale and delivery of cannabis products in the state. Read more
- Florida: Rep. Carlos Guillermo Smith and Sen. Jeff Brandes have filed complementary bills to legalize adult-use cannabis in the state. Smith’s H.B. 343 would legalize cannabis for adults 21 and older, while Brandes’ S.B. 710 revises “the sales tax exemption for the sale of marijuana and marijuana delivery” for cannabis purchases. Read more
- Montana: Rep. Matt Regier is drafting legislation to amend I-90, the ballot initiative voters approved in November to legalize adult-use cannabis in the state. Regier plans to introduce bills that would give more cannabis tax revenue to human services, as well as allow licensed dispensaries to advertise their products. Read more
- Tennessee: Rep. London Lamar introduced legislation this week to decriminalize the possession of less than one ounce of cannabis. H.B. 413 would essentially legalize the possession and the casual exchange of up to one ounce of cannabis, as long as no transaction is taking place. Read more
- Pennsylvania: Gov. Tom Wolf called for adult-use cannabis legalization in his 2021 agenda. “The revenue generated from legalization will be used to support historically disadvantaged small businesses through grant funding and provide them the assistance they need to build back from the economic crisis and strengthen our economy,” Wolf said. Read more