U.S. Senator Introduces Decriminalization Bill
Congress will be reviewing new legislation that could have serious implications on cannabis businesses across the country. U.S. House Judiciary Chair Jerrold Nadler and U.S. Senator Kamala Harris introduced a bill that would decriminalize marijuana and impose a 5% tax on all recreational marijuana sales. Proponents of cannabis reform believe this bill would be a large step forward if it is passed.
Juneau, Alaska Embraces On-Site Consumption
Alaska, which is quickly becoming known as one of the most progressive states in the country when it comes to the marijuana industry, will now be implementing an on-site consumption policy in their capital city. Marijuana customers can legally enjoy their purchased edibles at any licensed retailers without needing to leave the store. Juneau also allows marijuana smoking in designated outdoor areas.
New York Takes Steps to Remedy Unfair Marijuana Convictions
New legislation decriminalizing marijuana use will go into effect in New York starting August 27th. The bill aims to not only expand decriminalization, but also to expunge the records of those that have suffered under the state’s existing cannabis policy. While it is not the comprehensive legalization bill reform advocates had hoped for, most agree that it is a step in the right direction.
Colorado Leads the Way for Cannabis Delivery
Colorado Governor Jared Polis signed a bill in May that will allow licensed medical cannabis shops to deliver marijuana products starting in January 2020. Recreational shops will have the same privileges starting in January 2021. Polis believes that giving cannabis consumers the ability to receive products without leaving their homes will reduce the risk of impaired driving. The measure, therefore, is aimed not only at expanding Colorado’s legal marijuana industry, but also at increasing public safety.
Public Pension Funds Investing in Marijuana
At least 16 state pension funds are investing in marijuana through a California-based real estate investment trust (REIT). The states investing in this fund include those where marijuana is legal both medically and recreationally as well as states where cannabis is only legal medically. Experts believe we’ll see even greater rates of investment in the cannabis industry as it becomes increasingly normalized throughout the country.
If you have questions or comments about the latest in marijuana news, contact us.