Mar 30 2024

US House: Marijuana Banking Act Gains Three New Sponsors, Now At 112

A bill in the US House of Representatives to allow marijuana banking now has 112 sponsors.

Yesterday Congressmembers Troy Carter (D-LA), Ann D Kuster (D-NH) and Schakowsky (D-IL) joined on as sponsors to the SAFE Banking Act, bringing the total number of sponsors to 112, with eight signing on this month alone.

The SAFE Banking Act would explicitly allow banks and other financial institutions (credit unions, for example) that provide banking services to marijuana businesses that are legal under their state’s laws. This would allow banks to provide marijuana businesses with services such as debit and credit card processing and bank loans.
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Mar 29 2024

Hawaii House Committee Passes Senate-Approved Bill to Decriminalize One Ounce of Marijuana

Legislation to decriminalize the possession of up to one ounce of marijuana has been passed by a key committee in the Hawaii House of Representatives.

The House Judiciary and Hawaiian Affairs Committee voted 7 to 2 yesterday to pass Senate Bill 2487. The full Senate gave approval to the measure earlier this month, with the vote being 24 to 1.

Under current Hawaii law possessing up to three grams of marijuana is decriminalized, punishable by a maximum fine of $130. However, possessing more than three grams is a misdemeanor. Senate Bill 2478 would increase the three gram limit to one ounce (28 grams), mirroring the possession limit established in many other states that have decriminalize or legalized marijuana. It would also reduce the fine from $130 to $25.
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Mar 29 2024

North Carolina: $50 Million Marijuana Superstore Opens in Three Weeks

In three weeks the Eastern Band of Cherokee Indians (ECBI) will open their marijuana superstore on tribal land, accessible by those 21 and older regardless of whether or not they’re a tribal member.

On April 20, the unofficial marijuana holiday, the ECBI will open their marijuana superstore, located at the previous home of a bingo hall that cost over $50 million to refurbish. The Great Smoky Cannabis Company is located near Harrah’s Cherokee Casino Resort roughly three hours from Charlotte and 4.5 hours from Raleigh.

In September members of the EBCI voted overwhelmingly in favor of a measure to legalize recreational marijuana for everyone 21 and older. This allows the tribe’s planned medical marijuana superstore to open for recreational consumers rather than being exclusive to medical marijuana patients.
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Mar 29 2024

Maryland Legislature Approves Bill to Establish Psychedelics Task Force

Legislation to establish a psychedelics task force has been given approval by the Maryland House and Senate, with one technical vote required before the measure can be sent to Governor Wes Moore.

Psilocybin (top left), mescaline (top right), DMT (bottom left), and psilocin (bottom right).

House Bill 548 was passed through a second reading in the Senate today, 16 days after it was approved through the full House of Representatives by a vote of 136 to 1. A companion measure, Senate Bill 1009, passed the full Senate on March 18 in a unanimous 45 to 0 vote, and it was passed through a second House reading yesterday.

Now, if the Senate passes House Bill 548 through a third reading, or the House passes Senate Bill 1009 through a third reading, the legislation will be sent to a supportive Governor Moore.
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Mar 29 2024

IRS Issues Guidance on Marijuana Businesses Receiving Over $10,000 in Cash

The IRS’s Office of Chief Counsel has published a memorandum providing guidance to state-legal marijuana companies that are having issues complying with Form 8300, which must be completed whenever a company receives over $10,000 in cash.

The memorandum was issued in response to a set of questions regarding the Bank Secrecy Act, asked by those working with marijuana businesses that are legally licensed under their state’s laws. Of particular note, the memorandum states that marijuana companies are not required to check the “suspicious transaction” box on the form simply because they are operating a marijuana business.

“You have asked a series of question related to the filing of Form 8300 that have arisen in examinations of trades or businesses involved in the legalized substance industry”, states the letter. “The memorandum provides guidance on many of these issues in a question-and- answer format. We are working on additional guidance on questions related to cash couriers/armored cars who transport cash between growers/manufacturers and dispensaries/sellers.”
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Mar 29 2024

President Biden Issues Proclamation Saying “My Administration Has Taken Historic Steps to End America’s Failed Approach to Marijuana”

President Biden has issued “A Proclamation on Second Chance Month, 2024″, saying “my Administration has taken historic steps to end America’s failed approach to marijuana.”

(Photo credit: Reuters).

“America was founded on the promise of new beginnings”, states the proclamation, issued today.  “During Second Chance Month, we recommit to building a criminal justice system that lives up to those ideals so that people returning to their communities from jail or prison have a fair shot at the American Dream.”

As part of the proclamation, President Biden says “my Administration has taken historic steps to end America’s failed approach to marijuana.  Incarceration for marijuana possession alone has destroyed too many lives, particularly for Black and brown Americans, who have been arrested, prosecuted, and convicted at higher rates than other racial and ethnic groups.”
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Mar 28 2024

Delaware Governor Sent Bill to Allow Medical Marijuana for Any Condition, Allow Those 65+ to Self-Certify

Legislation that would make several changes to Delaware’s medical marijuana law has been passed by the full legislature and sent to Governor John Carney.

House Bill 285 would remove the state’s list of qualifying medical marijuana conditions, allowing physicians to recommend the medicine for any condition they deem appropriate. In addition, the proposal would allow those aged 65 and older to self-certify themselves as medical marijuana patients. This means they would not be required to receive a recommendation from a healthcare professional in order to become a medical marijuana patient.

HB 285 would also allow physicians to issue two or three year medical marijuana cards, whereas currently they are restricted to issuing just one-year cards.
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Mar 28 2024

Virginia Governor Vetoes Bill to Legalize Marijuana Sales

Virginia Governor Glenn Youngkin has officially vetoed legislation that would have legalized licensed marijuana sales.

Governor Glenn Youngkin (photo credit: Al Drago/Bloomberg).

“States following this path have seen adverse effects on children’s and adolescent’s health and safety, increased gang activity and violent crime, significant deterioration in mental health, decreased road safety, and significant costs associated with retail marijuana that far exceed tax revenue,” Governor Youngkin said in a veto letter. “It also does not eliminate the illegal black-market sale of cannabis, nor guarantee product safety. Addressing the inconsistencies in enforcement and regulation in Virginia’s current laws does not justify expanding access to cannabis, following the failed paths of other states and endangering Virginians’ health and safety.”

The legislation (Senate Bill 448), passed by the Virginia Legislature in February, would have allowed marijuana sales to begin on May 1, 2025. Those 21 and older would have been allowed to purchase up to 2.5 ounces of dried marijuana and up to 100mg of THC in edible form per transaction. Licensing and regulations for the marijuana industry would have been overseen by the Virginia Cannabis Control Authority.
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Mar 28 2024

Randomized Clinical Trial Finds CBD Provides Sustained Relief From Menstrual-Related Symptoms

According to a new study consuming soft-gel caps containing the marijuana compound cannabidiol (CBD) is associated with the persitent alleviation of menstrual-related symptoms (MRS).

CBD capsules.

The study was published in the journal Experimental and Clinical Psychopharmacology, with the abstract published online ahead of print by the US National Library of Medicine.

“Some individuals attempt to alleviate menstrual-related symptoms (MRS) by using cannabis and report having expectations that cannabis can improve MRS; however, no study has examined the effect of cannabinoids on MRS”, claim researchers. “The present study is a pre–post, randomized, open-label trial that aimed to examine the effects of oral cannabidiol (CBD) isolate for alleviating MRS.”
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Mar 28 2024

DEA Says They’re “In the Process” of Writing Marijuana Rescheduling Recommendation, Says Administrator “Will Make a Decision On Where to Place It”

In recent remarks an official with the DEA said that when it comes to marijuana’s scheduling status, the agency is “in the process” of writing a recommendation, clarifying that Administrator Anne Milgram “will make a decision on where to place it – whether to change it or whether to remove it”.

In a recent episode of the DEA’s podcast and Youtube show Prevention Profiles: Take Five, Senior Prevention Program Manager Rich Lucey interviewed DEA pharmacologist Buki Ebeigbe, with a focus on the current review of marijuana’s scheduling status. Currently marijuana is Schedule I, making it illegal for all uses; recently the Department of Health and Human Services (HHS) requested the DEA to move marijuana to Schedule III.

During the talk, Lucey said “I just think it’s important for people to – again, going back to correcting misperceptions and really the issue of transparency and, by us even doing this podcast, just to help people understand the process. We don’t want it to necessarily feel as if it’s behind this shroud of secrecy, which I think then lends itself to this idea that it’s a whole arbitrary process.”
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