A second stakeholder meeting focused on the scope of potential investors, mandatory disclosure of financial records, and divestiture of bad actors.
An adult-use ballot initiative failed in 2016, but cannabis industry giants are organizing to try again in 2020.
After several amendments and a compromise between the legislature and the governor, patients will get better access.
State Senator Bob Hertzberg, who worked alongside state Treasurer Fiona Ma, described the bill as “an interim bridge . . . not too complex,” and better than “a cockamamie public bank.”
As cannabis tourism is on the rise across the US, lawmakers in the nation's most populous state aim to set some ground rules.
A push to get legalization on the 2019 ballot was bogged down by fallout from the state’s divisive 2015 effort.
Minority Cannabis Business Association says the city’s position as one of the largest cannabis markets means its “programs and market rollouts will likely be adopted by others in the industry.”
At an industry summit in Los Angeles, California’s top cannabis regulators came together to discuss the state’s plans to prop up licensed operators, banking and tax hurdles, and social equity programs.
On the road to the legislative session’s end, legalization at times seemed certain. But consensus among lawmakers, and support in the Senate, fell short.
Today in Albany, the legislative session draws to a close.
Colorado’s Marijuana Enforcement Division held its first meeting about a bill to open the state industry to outside investors, which one participant said will “benefit corporations tremendously.”
“The objections from members are varied, and for every one we satisfy, another objects,” Sen. Diane Savino told Cannabis Wire.
“Render Them Bereft”: Cannabis Trade Associations Call on LA City Attorney to Expand Enforcement against Unauthorized Retailers
In the Coalition’s view, it currently “appears that the City’s enforcement is focused on closing illicit retail businesses, not dismantling them.”
Both proposals could have provided a shot in the arm for licensed businesses as the state cannabis industry continues to struggle with competition from illegal operators.
“There is no flower in the system. There’s none to be bought. I’m running out,” said Jacob Abraham, who owns a medical cannabis dispensary.
“We can already buy these products today at local gyms, coffee shops, wellness stores, and even now at CVS.”