From: Cannabis Business Executive, click here to view the full article.
On December 17, 2020, both houses of New Jersey’s legislature passed companion bills to create a new regulatory framework to govern the cultivation, processing, distribution and sale of state legal marijuana. The bill is expected to be promptly signed into law by Governor Murphy. This law will give effect to the constitutional amendment passed by New Jersey voters on November 3, 2020 to legalize personal use cannabis.
New Jersey’s adult use law provides opportunities for separate licenses for ...
NJ Senate and Assembly committees have now voted in favor of moving the personal use cannabis bills to full votes of the Legislature on Thursday December 17, 2020. If passed on Thursday, it is expected that Governor Murphy will sign the bill into law soon thereafter. A copy of the amended bill will be posted on our website as soon as it is made available.
According to the bill, the Cannabis Regulatory Commission will have 180 days to release its rules and then begin accepting applications for licensure.
In a historic vote, the US House of Representatives voted 228-164 in favor of the Marijuana Opportunity Reinvestment and Expungement (MORE) Act.
The MORE Act would decriminalize marijuana at the national level by removing it from the controlled substances list. The Act would impose a 5% federal tax on marijuana sales to fund various services for individuals negatively impacted by the war on drugs. The MORE Act also would authorize the Small Business Administration to provide SBA loans to state legal cannabis entities, which would provide a needed source of lower cost financing for ...