Sep 20 2023

Pennsylvania Senate Passes Bill Allowing All Licensed Marijuana Growers to Sell Directly to Patients

Legislation that would allow all licensed marijuana growers and processors to sell marijuana directly to patients has been passed overwhelmingly through the full Pennsylvania Senate.

By a vote of 44 to 3 the Senate passed Senate Bill 773, filed by Senator Chris Gebhard along with a bipartisan coalition of seven cosponsors. This sends the measure to the House of Representatives, with passage in that chamber putting the bill on the desk of Governor Josh Shapiro.

The proposed law would allow all licensed marijuana growers to receive a dual license that also allows them to operate a dispensary where they can sell marijuana and marijuana products.
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Sep 20 2023

US House Committee Passes Bill to Prevent Denial of Federal Employment Or Security Clearances Over Marijuana Use

The House Oversight and Accountability Committee has given approval to the Cannabis Users’ Restoration of Eligibility (CURE) Act (H.R. 5040).

The Committee passed the bill in a 30 to 14 vote. The measure was sponsored by Representatives Jamie Raskin (D-MD), Nancy Mace (R-SC) and Earl Blumenauer (D-OR).

The proposed law explicitly prevents federal employment and security clearances from being denied over someone’s admission that they are a previous marijuana user. Initially the measure would have also applied to current use, but an amendment from Chairman James Comer altered the proposal to apply only to past use.
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Sep 20 2023

Massachusetts Lawmakers Hold Hearing on Bill Allowing Medical Marijuana at Schools

Massachusetts’ Joint Committee on Cannabis Policy held a hearing yesterday to discuss legislation that would allow students who are authorized to use medical marijuana to use the medicine on school premises.

Filed by Senator Susan Moran, Senate Bill 59 was introduced in February. Seven months later, it has finally received a hearing in the Joint Committee on Cannabis Policy.

Senator Moran during the hearing called this an “incredibly important” issue.
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Sep 20 2023

Industrial Hemp Market Worth $8 Billion Globally, to Grow to $23 Billion by 2030

According to a new report, the global hemp market is valued at $8 billion as of the end of 2022.

The Global Industrial Hemp Market report, published by Verified Market Research, estimates that the market will grow at a compound annual growth rate of 14.05% between 2023 and 2030, to rise to an overall value of $23.20 billion.

“The global Industrial Hemp Market is poised for significant expansion, driven by an array of market drivers and regulatory shifts”, states the report. “Key players such as Hemp Oil Canada, Hemp Inc., Konoplex Group, BAFA, Hemp Poland, Dun Agro, HempFlax BV, HempFlax BV, and others are at the forefront of this transformative industry, capitalizing on the increasing consumer awareness of hemp-based products and their diverse applications.”
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Sep 20 2023

US Senators Introduce Bipartisan Marijuana Banking Bill, Credit Union National Association Announces Support

A bipartisan group of senators have introduced the SAFER Banking Act, an update on the SAFE Banking Act.

The Secure and Fair Enforcement Regulation (SAFER) Banking Act was introduced on Wednesday. Co-sponsors of the bill include Senate Majority Leader Chuck Schumer, D-N.Y., and Sens. Jeff Merkley, D-Ore., Steve Daines, R-Mont., Kyrsten Sinema, I-Ariz., and Cynthia Lummis, R-Wyo., Kevin Cramer, R-N.D., Cory Booker, D-N.J., Dan Sullivan, R-Alaska, and Bob Menendez, D-N.J.

The SAFER Banking Act would offer federal protections for banks, credit unions and other financial institutions accepting deposits, extending credit, or providing payment services to an individual or business engaged in cannabis related commerce in states where such activity is legal, so long as they are compliant with all other applicable laws and regulations. It also provides a safe harbor to credit unions and employees who are not aware if their members or customers are involved in cannabis businesses.
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Sep 20 2023

Legislation Filed in US Congress to Protect States That Legalize Magic Mushrooms

US Representatives Robert Garcia (D-CA) and Earl Blumenauer (D-OR) have filed the Validating Independence for State Initiatives on Organic Natural Substances (VISIONS) Act to protect state psilocybin laws.

Psilocybin mushrooms.

The new bill would make it so that federal funds would be prohibited from being used to “prevent any State or unit of local government from implementing such State’s or unit of local government’s own laws that authorize the use, distribution, sale, possession, research, or cultivation of psilocybin.”

In a social media post Rep. Garcia said: “Proud to introduce the VISIONS Act today, which protects legal psilocybin/mushroom use from federal prosecution anywhere where psilocybin is legal. Psilocybin treatments can offer relief to those suffering from anxiety, depression and PTSD for veterans.”
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Sep 19 2023

In Less Than 50 Days Ohio Could Become the 24th Legal Marijuana State

On November 7th of this year voters in Ohio will have the opportunity to make their state the 24th with legal recreational marijuana.

In a little over a month and a half voters in Ohio will decide the fate of Issue 2, which would legalize the personal possession of up to 2.5 ounces of marijuana and up to 15 grams of marijuana concentrates, for those 21 and older. The proposal would also allow for the personal cultivation of up to six marijuana plants.

Issue 2 would also establish a Division of Cannabis Control, as part of the Department of Commerce, with the authority to “license, regulate, investigate, and penalize adult use cannabis operators, adult use testing laboratories, and individuals required to be licensed.” The state would be required to issue at least 50 licenses for marijuana retail outlets.
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Sep 17 2023

CA Bill Legalizing Marijuana Cafes Received by Governor

Legislation that would legalize Amsterdam-style marijuana cafes in California was officially presented to Governor Gavin Newsom on September 15.

Governor Newsom has until October to decide the fate of Assembly Bill 374, which would legalize marijuana cafes where cannabis can be purchased and consumed, as could infused and non-infused food and drinks. Governor Newsom has the option of signing it into law, allowing it to become law without his signature, or vetoing it. The measure passed the Senate 34 and 3 and passed the Assembly 66 to 9, meaning there is well more than the 2/3rds support required to override a potential veto.

Specifically, AB 374 would “allow for the preparation or sale of noncannabis food or beverage products, as specified, by a licensed retailer or microbusiness in the area where the consumption of cannabis is allowed”, and would “allow for the sale of prepackaged, noncannabis-infused, nonalcoholic food and beverages by a licensed retailer”. The law would also allow them to “sell tickets for, live musical or other performances where the consumption of cannabis is allowed.”
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Sep 16 2023

In Michigan, $276 Million in Legal Marijuana Purchased in August, Over $40 Million in Taxes Garnered

In Michigan, August marijuana sales fell barely short of July’s record-breaking numbers despite prices dropping.

In total there was $276,262,397.68 worth of legal marijuana sold in August, less than half a million dollars short of the $276,746,264.07 sold in July (the current monthly record). This is according to a report just released by the Michigan Cannabis Regulatory Agency.

Although August marijuana sales didn’t quite beat July’s numbers, they are a noticeable increase over the $260 million sold in June and the $245 million sold in May. Sales numbers include the distribution of dried marijuana flower as well as other marijuana products including concentrates, edibles and topicals.
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Sep 15 2023

US Senate Committee Schedules Vote for Bill Allowing Banks to Service Marijuana Businesses

On September 27 the Senate Banking Committee will vote on legislation that would allow banks to provide services to marijuana businesses that are legal under their state’s law.

The SAFE Banking Act has received bipartisan support and has been listed as a top priority for Senate Majority Leader Chuck Schumer. After months of negotiations the measure will finally receive a vote in the Senate Banking Committee, with proponents of the measure confident that it has the 60 votes needed to be passed out of the Senate and sent to the US House of Representatives.

The measure would have a wide-reaching impact on the growing marijuana industry. Because marijuana is federally illegal, state-licensed marijuana stores are required to operate entirely cash-only, a clear security risk. The SAFE Banking Act would explicitly give these businesses access to banking and financial services, including bank loans.
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