Jun 27 2024

Delaware Senate Committee Approves House-Backed Bill to Allow Recreational Marijuana Sales to Begin in December

A key committee in the Delaware Senate has given approval to legislation that would allow medical marijuana dispensaries to begin selling recreational marijuana this year, months ahead of schedule.

Yesterday, the Senate Judiciary Committee voted to pass House Bill 408. The vote comes a week after the measure was passed by the full House of Representstives, 29 to 11. Sponsored by State Representative Ed Osienski with a companion bill from Senator Trey Paradee, the measure would establish a temporary conversion license for medical marijuana dispensaries, enabling them to sell recreational marijuana while maintaining their medical operations.

“As we approach the launch of recreational marijuana sales in Delaware, it’s vital to implement policies that support both new and existing retailers”, says Rep. Osienski stated. “Our experienced centers can smoothly handle this transition, using the fees from conversion licenses to support social equity applicants.”
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Jun 26 2024

These 5 States Have the Cheapest Legal Recreational Marijuana Prices

Recreational marijuana is legal in 24 states, with all but Virginia allowing licensed sales. Prices in these states vary substantially.

Among these states, the average price of marijuana and marijuana products varies significantly, with some states having averages more than double those of others.

Using data compiled by state regulatory agencies, here are the five legal marijuana states with the cheapest average cannabis prices:

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Jun 26 2024

Washington State Marijuana Sales Top $100 Million in May, Resulting in $37 Million in Taxes

Washington State’s legal marijuana market saw over $100 million in sales in May.

According to data released by the state, there was approximately $101.84 million in legal marijuana sales in May, a 1.3% increase from the previous month and a 1.8% increase over May 2023. This brings the yearly total to around $500 million.

Total sales for May fell around $8 million short of the record-breaking $109.6 million sold in June 2022.
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Jun 26 2024

Arizona: Nearly $100 Million in Legal Marijuana Sold in May, $24 Million in Taxes Garnered

Licensed marijuana stores in Arizona sold nearly $100 million worth of product in May.

According to the Arizona Department of Revenue, the state made $24,482,049 in tax revenue from $97 million in marijuana sales. This is roughly the same as the $24,586,563 in taxes garnered in April, but noticeably less than the $28,423,424 sold in May 2023, which remains the single-month record.

Recreational consumers accounted for 78% of the total marijuana sales in May ($76.4 million), while medical marijuana sales made up the remainder ($20.6 million). Continue reading

Jun 26 2024

Lawmaker Pushes Federal “Stop Pot Act”

A  US congressmember behind federal legislation aiming to penalize states and tribes that legalize marijuana continues to seek support for the measure.

The Stop Pot Act, introduced in September by Representative Chuck Edwards (R-NC), is cosponsored by Representatives David Rouzer (R-NC), Gregory Murphy (R-NC), Pete Sessions (R-TX), and John W. Rose (R-TN). The measure would withhold federal funding from states and tribes that have legalized recreational marijuana.

Specifically, if the Stop Pot Act is passed into law, the federal government would withhold 10% of federal highway funds from states that violate the federal Controlled Substances Act (CSA). Since the CSA classifies marijuana as a Schedule I drug, any state that legalizes it would be in violation of federal law and thus face funding cuts.
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Jun 26 2024

Over 50 Cities in Ohio Have Placed a Ban on Marijuana Stores, With Statewide Sales Starting Any Day

So far 56 cities in Ohio have placed bans or moratoriums on recreational marijuana sales.

Ohio recreational marijuana law, passed by voters last year, allows cities to opt-out of allowing recreational marijuana sales. So far, 56 cities have taken this approach to disallow marijuana stores.

Under Ohio’s law, those 21 and older are allowed to possess up to 2.5 ounces of marijuana and up to 15 grams of marijuana concentrates, and they can cultivate up to six marijuana plants at a private residence. The law allows licensed marijuana stores, overseen by the Division of Cannabis Control, to sell marijuana and marijuana products, with medical marijuana dispensaries having the option to obtain a dual-license to also sell to recreational marijuana patients. So far over 60 provisional dual-issue licenses have been issued, with sales expected to begin as soon as this week.
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Jun 26 2024

US Congress: GOP Lawmaker Says There’s Enough Votes to Pass Marijuana Banking Act

There’s enough votes in the United States House of Representatives to pass a federal marijuana banking act, according to Congressmember Nancy Mace (R-SC).

The SAFE Banking Act (H.R. 2891) has 124 sponsors in the House, more than any other marijuana-related measure. The proposed law would provide federal protections for banks and credit unions that serve marijuana businesses that are legally licensed under state law. This encompasses recreational marijuana retail outlets in the 23 states that permit them, as well as dispensaries in the 38 medical marijuana states.

Furthermore, the legislation would allow licensed marijuana businesses to take standard IRS tax deductions, a practice currently forbidden.
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Jun 26 2024

Delaware Legislature Approves Bill to Allow Marijuana Banking, Sending it to Governor Carney

Legislation to protect banks and other financial institutions that provide services to state-legal marijuana businesses has been given approval by the Delaware Legislature.

House Bill 355, sponsored by Representative Ed Osienski and Senator Trey Paradee, clarifies that providing financial services to legal cannabis businesses is lawful under Delaware state law. Passage of the bill removes a major barrier for the cannabis industry, which has struggled to access traditional banking services due to the continued federal classification of marijuana as a Schedule I drug.

“This legislation is a critical step forward for Delaware’s cannabis industry,” said State Treasurer Colleen Davis. “By ensuring safe access to banking services, we are empowering legitimate businesses to operate transparently and securely.”
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Jun 26 2024

South Dakota Voters to Consider Measure 29 to Legalize Marijuana in Less Than 20 Weeks

Voters in South Dakota will have the opportunity to legalize recreational marijuana in just 19 weeks, on November 5.

Measure 29, sponsored by South Dakotans for Better Marijuana Laws (SDBML), would make the possession and cultivation of marijuana legal for adults 21 and older. The initiative would also establish a licensed, regulated and taxed system of marijuana businesses, including retail outlets.

Possession limits would be set at two ounces of marijuana dried marijuana, 16 grams of marijuana concentrates, and “Cannabis products, other than concentrated cannabis, containing one thousand six hundred milligrams of tetrahydrocannabinol.”
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Jun 25 2024

Partisan Divide: Democrats Seek Federal Marijuana Reform, Republicans Push to Block it and Warn of Violence and Depression

With the November election just over four months away, and with the presidency, the entire US House, and a third of the Senate up for grabs, a stark contrast has emerged between the Democrats and Republicans.

The Biden Administration is moving to reschedule marijuana to Schedule III, officially recognizing its medical value. In contrast, House Republicans are attempting to pass legislation to block this change.

While 89 Democratic members of the House of Representatives and 18 senators, including Senate Majority Leader Chuck Schumer, are working to pass legislation to deschedule marijuana, not a single Republican has endorsed the the move. The most prominent Republican-backed marijuana bill, the Stop Pot Act, aims to keep marijuana in Schedule I and withhold federal funds from states that legalize it.
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