We are now a quarter through 2022; what can we expect for the rest of the year regarding cannabis legalization? So far this year, we have seen New York snd New Jersey working diligently to get their marijuana programs up and running. Along with New Mexico going live with their marijuana program. We always get a lot of activity on the state level. However, this year, we have also seen the MORE Act pass through the house; and the Cannabidiol and Marihuana Expansion Act pass unanimously through the senate. With 2022 being such a busy year for cannabis, what else can we expect?
New York is expecting to begin sales at the end of 2022. The state officials say that the delay is worth it because they want to start the program out the right way. To begin, New York set aside 30,000 acres for farmers to grow cannabis. Officials also stated that people impacted by the war on drugs would get first dibs on licenses.
New Jersey is a little more ahead of things with its program. The state is expecting recreational sales to start in a few weeks after seven dispensaries were approved to begin retail sales. Regulations have already been made and found on www.NJ.gov. The state anticipates 800,000 potential customers and $19million in annual revenue.
New Mexico officially began retail sales on April 1st. The state saw a whopping $5.2million in revenue on the first weekend of adult-use sales. The state is off to a great start in reaching its $300million annual revenue projection. New Mexicans were very excited to see legalization, and so were their Texan neighbors.
The More Act
Things the bill will do.
Decriminalize marijuana at the federal level
Gives States power to set their marijuana policies
requires federal courts to expunge prior marijuana convictions
Authorizes a 5% tax to fund programs supporting communities most impacted by the War on Drugs
Provides funding for small cannabis businesses
Prevents deportations for marijuana convictions
Prohibits denial of federal housing benefits based on marijuana offenses or use of things the bill will do.
Our blog on the more act- https://www.acssafe.com/post/the-more-act-what-does-this-mean-for-marijuana-in-america
The Cannabidiol and Marihuana Expansion Act
The Cannabidiol and Marihuana Expansion Act passed unanimously through the Senate in March. What does this mean exactly? It will allow marijuana to be studied more on the federal level without facing penalties. Who does this help? It helps medical marijuana patients and doctors throughout the United States. This bill seems like a substantial movement for cannabis. Check out the blog for more information. https://www.acssafe.com/post/the-cannabidiol-and-marihuana-expansion-act
On Thursday, a bill passed through the house to legalize medical marijuana. If passed, South Carolina will have the strictest regulations in the country. It would only allow fifteen cultivation centers and thirty processing facilities, a pretty limited amount. The reason representatives are being so restrictive and weary of legalization is; that they are worried that legalizing marijuana will make the people of the state lazy and dependent on the plant.
Rhode Island may be the next state to legalize marijuana. In 2021 Rhode Island's Senate passed legislation that will allow thirty-three retail licenses across the state. Before the state issues these licenses, they will allow communities to opt-out of the program. However, if a zone opts out, it will not receive any tax revenue. The vote will be in November, and afterward, the state will move on to the next step with the program.