Grow Life 420

#KahliBuds #MMJ #CBD #THC

Nearly three in five Americans consider alcohol or tobacco to be “more harmful” to a person’s health than marijuana, according to a new poll.

The YouGov survey that was released on Thursday asked respondents about a variety of cannabis use trends. One of the more telling findings is that 64 percent of Americans consider regular alcohol use more dangerous than cannabis, while 63 percent said the same about tobacco.

Only 14 percent said marijuana use is more problematic than regular alcohol use. Another 16 percent said cannabis was more dangerous than tobacco.

Overall, 53 percent of respondents said they believe both alcohol and tobacco are more harmful than marijuana.

The sentiment is consistent with other recent polling. For example, a Gallup survey released last year found that Americans consider marijuana to be less harmful than alcohol, cigarettes, vapes and other tobacco products. And at the same time, cannabis use has “surpassed cigarette usage in the U.S., while vaping still trails both,” it said.

Another poll published by the Journal of the American Medical Association (JAMA) last year similarly showed that people increasingly view smoking marijuana or being exposed to secondhand cannabis smoke as safer than smoking or being near tobacco smoke.

53% of Americans say both alcohol and tobacco are more harmful to a person’s health than marijuana.

% who say regular use of each of the following is worse for a person’s health:

Marijuana – 14%
Alcohol – 64%

Marijuana – 16%
Tobacco – 63% https://t.co/sGLkad1Wpz pic.twitter.com/a9xxadrnBm

— YouGov America (@YouGovAmerica) April 19, 2024

Meanwhile, the new YouGov poll also found broadly that 62 percent of Americans think cannabis should be legalized. That includes 71 percent of Democrats, 67 percent of independents and 46 percent of Republicans.

In terms of frequency of use, more than half of Americans (56 percent) said they’ve tried marijuana “at some point in their lives,” 24 percent said they’ve consumed cannabis in the past year and 17 percent has used it in the past month.

Among past-year consumers, 24 percent reported using cannabis multiple times in a day, 11 percent said they used once per day and 20 percent consumed “a few times a week.”

“What formats of cannabis consumption are most common? The most popular method, among the 60 percent of Americans who have ever tried marijuana or cannabidiol (CBD, an active ingredient in marijuana), is smoking flower or bud: 61 percent of this group—and 37 percent of Americans overall—say they’ve ingested it this way,” YouGov said.

If marijuana was legalized nationwide, 67 percent of respondents who haven’t used cannabis said they would continue to abstain. Another 14 percent said they “probably” wouldn’t try it, while six percent said they “probably” would use cannabis and two percent said they “definitely” would.

The poll involved interviews with 1,148 adults from April 5-8.

Meanwhile, another new survey of Americans’ habits, opinions and expectations around cannabis finds that nearly six in 10 adults are “surprised marijuana hasn’t been legalized across the United States yet.”

Nine in 10 Americans say marijuana should be legal for recreational or medical purposes, a Pew Research Center poll that was released last month found. And most agree that legalization bolsters local economies and makes the criminal justice system more fair.

Pew also released a separate report in February that found eight in 10 Americans now live in a county with at least one marijuana dispensary. The analysis also shows that high concentrations of retailers often “cluster” near borders abutting other states that have “less permissive cannabis laws”—indicating that there’s a large market of people who live in still-criminalized jurisdictions who cross state lines to purchase regulated products.

South Carolina Lawmakers Will Take Up Senate-Passed Medical Marijuana Bill This Week, Earning Praise From GOP Congresswoman

The post Three In Five Americans Say Marijuana Is Safer Than Alcohol Or Tobacco, Survey Finds appeared first on Marijuana Moment.

420GrowLife

via www.KahliBuds.com

Kyle Jaeger, KahliBuds, 420GrowLife

#KahliBuds #MMJ #CBD #THC

100th dispensary opens as NY Office of Cannabis Management awaits executive review Image Cannabis News April 18, 2024 New York Celebrates Opening of 100th Legal Cannabis Dispensary Amidst Review. Leaders in the state Office of Cannabis Management on Wednesday celebrated the opening of the state's 100th legal dispensary — putting on a brave face as the governor's office works to finish a review of the troubled Marijuana Business News Cannabis Jobs Spectrum News 1

Image

Cannabis News April 18, 2024

• Marijuana Business News
• Cannabis Jobs

420GrowLife

via www.KahliBuds.com

Cannabis News, KahliBuds, 420GrowLife

#KahliBuds #MMJ #CBD #THC

The Congressional Progressive Caucus (CPC) has unveiled a new legislative agenda that includes marijuana legalization and expungements among a list of priorities that members say Democrats “can pass with congressional majorities” if they keep the Senate and retake the House in the November elections.

The Progressive Proposition Agenda that was endorsed by the caucus covers a wide range of domestic policy issues that CPC’s chair, Rep. Pramila Jayapal (D-WA), says are designed to “motivate people with a vision of progressive governance under Democratic majorities in the House and Senate and a Democratic White House.”

Under a criminal justice section, the caucus is reiterating its call for federal cannabis legalization. It comes in stark contrast to a recent Republican Policy Committee memo urging GOP members to oppose even incremental reform proposals such as a bipartisan marijuana banking bill.

The progressive agenda specifically encourages legislative and administrative action to “reduce criminalization and incarceration through sentencing reform, legalizing cannabis, expunging records, providing restorative justice, and an accelerated and reformed clemency process for people with marijuana-related convictions.”

“Progressives are proud to have been part of the most significant Democratic legislative accomplishments of this century,” Jayapal said in a press release on Thursday. “We have made real progress for everyday Americans—but there’s much more work to be done.”

For too long, the majority of this country has been barred from the American promise of equality, justice, and economic opportunity.

We have to meet people's urgent needs AND rewrite the rules to break down these barriers.

Our Progressive Proposition Agenda can get it done.

— Progressive Caucus (@USProgressives) April 18, 2024

“With the Progressive Proposition Agenda, Democrats in Congress can meet the urgent needs people are facing, rewrite the rules to ensure majorities of this country are no longer barred from the American promise of equality, justice, and economic opportunity, and motivate people with a vision of progressive governance under Democratic majorities in the House and Senate and a Democratic White House,” she said.

The cannabis reform proposals are among the items CPC says “Democrats can pass with congressional majorities that will deliver immediate, tangible results for everyday Americans as well as rebuild systems that have held communities back for too long.”

In contrast, the Republican Policy Committee set out a demonstrably different agenda in a recent memo that formally opposes marijuana banking legislation and a separate bill to remove past cannabis use as a disqualifying factor for federal employment and security clearances, while broadly criticizing the substance as a “gateway drug” that causes “violence, depression and suicide.”

Meanwhile, a separate Executive Action Agenda that CPC put forward last year urged President Joe Biden to direct federal agencies to “expedite” the ongoing marijuana scheduling review and reinstate guidance protecting state cannabis programs from federal interference.

That preceded the U.S. Department of Health and Human Services (HHS) disclosing their recommendation to move marijuana from Schedule I to Schedule III of the Controlled Substances Act (CSA). The Drug Enforcement Administration (DEA) is now completing its own review before making a final decision.

When CPC rolled out its platform in 2020, it called for marijuana to be legalized within the first six months of 2021 and the expungement of prior records.

—
Marijuana Moment is tracking more than 1,400 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.

Learn more about our marijuana bill tracker and become a supporter on Patreon to get access.
—

With respect to cannabis clemency, a Democratic senator introduced a bill on Thursday to create federal incentives for states, localities and Indian tribes that expunge low-level marijuana records—an equity-focused reform proposal Senate Majority Leader Chuck Schumer (D-NY) has repeatedly discussed attaching to bipartisan cannabis banking legislation that’s pending floor action.

Friday was also the deadline for senators to sign on to a bill to federally legalize marijuana that Schumer plans to introduce, alongside Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ), later this month.

GOP Senator Is Wrong About International Treaties Preventing Marijuana Rescheduling, Cannabis Companies And Advocacy Organizations Say

Photo courtesy of Philip Steffan.

The post Congressional Progressive Caucus Says Democrats Can Legalize Marijuana If They Win House And Senate Majorities In November Election appeared first on Marijuana Moment.

420GrowLife

via www.KahliBuds.com

Kyle Jaeger, KahliBuds, 420GrowLife

#KahliBuds #MMJ #CBD #THC

New York state is tossing out its current legal cannabis tax structure in favor of one that is less complicated. The complicated potency-based tax system is being replaced with a new wholesale structure that was part of the state’s new budget.

S.B. 8309 was passed by the state legislature last weekend and is expected to be signed by Governor Kathy Hochul. The language is similar to the changes proposed by Hochul in January. The Governor has become more involved in the oversight of the Office of Cannabis Management and the Cannabis Control Board since the program rollout has been fraught with problems. Last week, the Governor held a press conference discussing new law enforcement strategies to close unlicensed operations.

New tax structure

The new tax law entails levying a 9% excise tax at the wholesale level. That rate would be assessed on 75% of the retail price from vertically integrated businesses like those with a microbusiness license. The tax on medical cannabis would be cut from 7% to 3.5%.

In last week’s press conference, the Governor said, “We can build a fair and competitive legal market where tax revenue is actually reinvested in the communities harmed by the laws of the past.”

The New York Cannabis Conference (NYCC)  said, “The final state budget deal makes important progress toward establishing an economically viable, well-regulated, and equitable legal cannabis market. In addition, elimination of the potency tax will greatly simplify the cannabis tax system, while reducing the excise tax on medical cannabis is a step in the right direction toward ending the unfair penalization of patients and broadening access to medications that can help New Yorkers manage their pain and improve their overall quality of life.”

The NYCC is a coalition of the Association of New York Cannabis Processors, the Black Cannabis Industry Association, the Cannabis Farmers Alliance, the New York Cannabis Retail Association, and the New York Medical Cannabis Industry Association. 

Jason Klimek, co-leader of the cannabis team at Barclay Damon LLP, told Law360, “For example, under the potency-based tax system, $1,000 worth of cannabis flower with 20% THC is taxed at about $450 per pound, but the wholesale tax would reduce the amount to $90, Klimek said. The wholesale tax system will result in an effective tax rate that’s “on the higher end of average” among the states with legal adult-use cannabis, he said, but added that the change is expected to be revenue-neutral.”

The U.S. Census Bureau reported that in 2023 New York collected $33 million in cannabis tax revenue. The state had originally projected it would collect $56 million, but the proliferation of unlicensed stores with cheaper product prices has driven many consumers to buy from illicit dealers.

Now that New York is changing its tune on potency taxes, Connecticut and Illinois would be the only remaining states continuing to charge a potency tax.

1827000-1827477-tax bill

The post New York scraps potency tax in new budget appeared first on Green Market Report.

420GrowLife

via www.KahliBuds.com

Debra Borchardt, KahliBuds, 420GrowLife

#KahliBuds #MMJ #CBD #THC

In recent years, the cannabis industry has experienced unprecedented growth and evolution, fueled by shifting regulations and changing consumer attitudes. As the industry continues to mature, one critical aspect that demands attention is cannabis lending.

Access to capital is essential for cannabis businesses to expand operations, invest in infrastructure, and navigate the complexities of compliance. However, the landscape of cannabis lending is unique, presenting both opportunities and challenges for entrepreneurs and financial institutions alike.

Increase in lending solutions

Despite the regulatory complexities surrounding cannabis, there has been a notable increase in lending options for cannabis businesses. Traditional banks, credit unions, and specialized cannabis lending firms have entered the market, recognizing the industry’s growth potential.

The growing acceptance of cannabis legalization at the state level has led to a more favorable lending environment, along with advancements in financial technology platforms offering streamlined processes and flexible terms. Additionally, there has been a significant shift towards refinancing existing debt rather than providing initial cash-out financing, representing progress in the industry.

However, despite these advancements, many cannabis businesses still face challenges such as high-interest debt and short-term maturities, highlighting the ongoing need for more permanent financial solutions.

Challenges persist

While the landscape of cannabis lending is evolving, several challenges persist, primarily due to the federal illegality of cannabis. Cannabis remains classified as a Schedule I controlled substance under the Controlled Substance Act, which creates significant hurdles for banks and financial institutions. As a result, some traditional banks and credit unions remain hesitant to engage with the cannabis industry.

Another challenge for many operators in the cannabis industry is qualifying for bank financing, which typically offers the most favorable terms. Both banks and credit unions have strict credit criteria, often requiring “stabilized cash flow.” For owner-operators, this means demonstrating at least one to two years of business history with sufficient profitability to service the loan.

Similarly, for landlords or real estate investors leasing to cannabis businesses, lenders also seek stable cash flows.

What to consider when seeking financing solutions

The requirement of one to two years of operating history poses a challenge, especially in new and rapidly growing markets where licenses are issued. To overcome this challenge, lenders explore creative solutions, such as including additional businesses, revenue streams, or assets in the loan package to qualify companies for favorable financing terms.

Operators should also be aware that various lenders, including conventional banks and credit unions, are active in the cannabis lending space. To qualify for conventional financing programs, the ability to demonstrate profitability and collateral, preferably real estate, can be highly advantageous for securing favorable financing terms.

Locking down the best deal

For operators and businesses, the primary consideration when seeking financing is the cost of capital. Qualifying with conventional lenders typically yields the most favorable terms, including lower interest rates, longer terms, and longer amortization periods.

While some institutional lenders in the cannabis space can provide competitive rates, they often have conservative underwriting standards similar to banks and credit unions to mitigate risk.

Recently the competitive landscape for deposits has significantly intensified. Major operators are keenly aware of this dynamic, which has been accentuated by notable failures such as those of First Republic Bank and Silicon Valley Bank last year, leading to the competitive environment for deposits becoming fiercely competitive nationwide and across various industries.

Emphasis on assets and deposits

For cannabis businesses seeking loans, qualifying based on revenue and pledging underlying assets as collateral, such as real estate, is crucial. However, banks increasingly require a minimum deposit requirement alongside the loan.

For example, a $5 million loan might come with a covenant mandating a minimum liquidity of $1.5 million to $2 million to be maintained at the bank. While this benefits banks by growing deposits, it can pose a challenge for businesses.

Different financial institutions may have varying ratios, but the emphasis on deposits remains a common motivation, which can be both advantageous and a potential hurdle for operators.

Impact of the federal landscape

The potential rescheduling of cannabis will undoubtedly have a significant positive impact on the cannabis industry, particularly with the elimination of IRS tax code section 280E. While this may not dramatically improve an operators’ on-paper financial performance, it would substantially increase their actual cash results by an estimated 20% to 30%, providing opportunities for growth and expansion.

This change would enable cannabis businesses to make acquisitions and pursue other ventures, fostering increased activity within the industry.

While the cannabis lending landscape has made significant strides, there are still challenges to overcome. However, with innovative solutions and an evolving regulatory environment, the future looks promising for cannabis operators seeking financial stability and growth opportunities.

Dan Roda is the chief operating officer of Safe Harbor Financial, which facilitates banking, payments and financial services to the regulated cannabis industry.

The post Unlocking Growth: Navigating the evolving landscape of cannabis lending appeared first on Green Market Report.

420GrowLife

via www.KahliBuds.com

Staff, KahliBuds, 420GrowLife

#KahliBuds #MMJ #CBD #THC

In an exit interview of sorts, longtime Oregon congressman and cannabis champion Earl Blumenauer strongly implied that if the Biden reelection campaign were smart, it would wrap both arms around the marijuana legalization ballot measure in Florida.

Blumenauer, who founded the Congressional Cannabis Caucus in 2017 and has reliably been a marijuana reform champion in Washington, D.C., announced last year that he wouldn’t be seeking reelection this coming November. But he told reporters on Friday that he’s still going to push Democratic candidates and the party at large to get federal reform accomplished this year, including the proposed rescheduling of cannabis to Schedule III.

That includes, he said, urging any and all who will listen that marijuana legalization is a winning political issue.

“If I were Joe Biden, trying to get right with young voters, particularly with young voters of color, and to atone for being on the wrong side of the failed War on Drugs, this is the issue to champion. In almost every state where cannabis legalization has been on the ballot, it passes overwhelmingly, often outperforming the same politicians who were reluctant to embrace it,” Blumenauer said at the outset of his prepared remarks.

“There is no longer any risk for anyone embracing full cannabis legalization. To the contrary, Joe Biden himself owes his (2020) victory in Arizona to the young voters who turned out en masse for a ballot measure to legalize cannabis, where it passed 60-40. That resulted in a 30,000 vote margin of victory for Biden in Arizona,” Blumenauer asserted.

“The reason that the Democrats control the Senate can be attributed to (U.S. Sen.) John Fetterman’s (of Pennsylvania) longtime advocacy for legalization. There’s no doubt in my mind that that was the source of the very narrow margin that resulted in his being elected to the Senate, and making (U.S. Sen.) Chuck Schumer the majority leader.”

Blumenauer went even further and said he believes that the elections of Sens. Jon Ossoff and Raphael Warnock in Georgia in 2020, which gave Democrats a slim majority in the U.S. Senate, was due to the fact that neither candidate scorned marijuana.

“I will use every opportunity to make the point that cannabis can help Democrats win in 2024,” Blumenauer said.

Florida?

What Blumenauer didn’t mention is Florida, which will consider the question of adult-use cannabis on November’s ballot.

Reading between the lines, however, it wouldn’t be much of a stretch to suggest that Biden could wrap up the presidential race if he and other Democrats decided to champion the recreational marijuana legalization ballot measure in the Sunshine State, for several reasons.

First, it’s low-hanging fruit, politically speaking. The ballot measure already has plenty of high-profile Republican opposition, including from Gov. Ron DeSantis, and some political analysts are suggesting the measure will benefit Democrats.

Secondly, Florida is one of the key prototypical swing states, a bellwether that has turned plenty of presidential elections on its own. Florida went for Trump in 2020 and in 2016, after Democrat Barack Obama carried the state in 2012 and 2008, and Republican George W. Bush won Florida twice in 2004 and 2000.

If, as Blumenauer suggested, marijuana was the push that Biden needed in Arizona four years ago, it could play a similar role in Florida.

Third, there’s basically no risk, politically speaking, for Biden or Democrats in general to stake out a position in favor of the ballot initiative – and even for wider cannabis reform. Doing so could also help Democrats in other states, such as Virginia, where Republican Gov. Glenn Youngkin is up for reelection in 2025, after just vetoing a bill to authorize recreational marijuana sales.

And it could have down-ballot ripple effects, playing a role in Senate or House races, Blumenauer suggested on Friday.

“We’ve had Republican pollsters join Democratic pollsters, giving briefings to congressional members and their staff, about how there’s no problem embracing legal cannabis. On the contrary, failure to do that makes their candidacies less attractive,” Blumenauer said.

All of which adds up to a simple political lesson, Blumenauer implied: If Biden doesn’t start taking cannabis reform a bit more seriously, it could become the straw that breaks his campaign’s back.

The post Could marijuana help Biden keep the White House? Blumenauer thinks so appeared first on Green Market Report.

420GrowLife

via www.KahliBuds.com

John Schroyer, KahliBuds, 420GrowLife

#KahliBuds #MMJ #CBD #THC

Dozens of marijuana companies and advocacy groups are pushing back against Sen. Mitt Romney’s (R-UT) recent claims that the U.S. would be in violation of international drug treaty agreements if it reschedules cannabis to Schedule III of the Controlled Substances Act (CSA).

In a letter sent to Romney this month, more than 50 organizations said the senator made “inaccurate claims that neither reflect the current state of medical and scientific knowledge about marijuana nor an accurate application of relevant treaties to proposed reforms.”

Signatories—including major marijuana businesses, industry groups, law firms, ancillary businesses and and cannabis advocacy organizations—said in the April 9 letter that they wanted to “correct the record.”

Late last month, Romney and Sens. James Risch (R-ID) and Pete Ricketts (R-NE) sent a letter to Drug Enforcement Administration (DEA) Administrator Anne Milgram arguing that rescheduling marijuana—as recommended by the Department of Health and Human Services (HHS)—would put the U.S. out of compliance with international treaty obligations and make it harder to ensure that other countries continue to enforce drug laws, “including for deadly narcotics like fentanyl.”

The new industry and advocacy group response contends that Romney’s understanding of the law is out of date.

“Your letter cites a 1977 decision from the U.S. Court of Appeals for the D.C. Circuit describing obligations under the Single Convention that would not be met if marijuana were reclassified under schedule III,” it says. “However, in the many years since the court weighed in, the U.N. Commission on Narcotic Drugs voted to reclassify cannabis in recognition of its medical uses. Moving marijuana to schedule III, as recommended by HHS, simply acknowledges this accepted reality.”

“The U.S. is not required under any applicable Treaty to keep marijuana in schedule I or II under the CSA. So long as certain requirements are met, the drug Treaties provide the U.S. with the flexibility to classify relevant substances based on scientific and medical evidence and in accordance with domestic laws such as the CSA. The U.S. Department of State addressed this in the fall of 2023 during an intersessional meeting of the UN’s Commission on Narcotic Drugs, stating that the Single Convention is primarily focused on drug trafficking and has an international, rather than domestic, focus.”

Ever since news leaked in August that the Department of Health and Human Services (HHS) had sent a recommendation to DEA that marijuana be rescheduled as a Schedule III drug, some have warned that the move could still hit legal snags. One of the open questions is whether U.S. interpretations of international drug law would block the proposal.

Officials and advocates have interpreted the country’s duties under those treaties in competing ways.

Among those who’ve raised concerns is Rep. Andy Harris (R-MD), who raised the issue in a letter to DEA Administrator Milgram in January, claiming that any reclassification that puts marijuana outside of Schedule I or Schedule II “would constitute a violation of the Single Convention,” referring to the 1961 United Nations (UN) Single Convention on Narcotic Drugs.

In 2016, DEA itself said in a denial of a cannabis rescheduling petition that “in view of United States obligations under international drug control treaties, marijuana cannot be placed in a schedule less restrictive than schedule II.”

But as a coalition of 12 senators pointed out in a separate letter to Milgram a week before Harris’s was sent, the UN has since revised global cannabis scheduling policies and allowed other member states, such as Canada, to legalize and regulate marijuana without penalty. Those lawmakers urged DEA to legalize marijuana completely.

Earlier this month, meanwhile, Canadian Prime Minister Justin Trudeau said his government’s concern about possible United Nations (UN) penalties for legalizing marijuana never materialized, disclosing that no officials have so much as discussed the issue with Canada since the reform was enacted in 2018.

The prime minister was a chief proponent of legalization, and the government has defended its decision to advance the reform—including at a meeting of the UN Commission on Narcotic Drugs in 2020.

In February, a group of lawyers specializing in cannabis issued argued in a legal opinion that international drug treaties ought not stand in the way of moving marijuana to Schedule III. In fact, it said, a move to Schedule III would better uphold the country’s broader obligations under international law to regulate cannabis in a way that protects public health and safety.

The new letter to Romney echoes many of that opinion’s arguments.

“The current placement of marijuana under schedule I prevents the U.S. from ensuring the substance’s availability for medical and scientific research as required by the Single Convention,” it says. “Reclassification under schedule III would, therefore, bring the U.S. closer to compliance with Treaty requirements.”

Meanwhile, HHS has reportedly requested a legal opinion on the implications of possible marijuana rescheduling from the Justice Department’s Office of Legal Counsel (OLC), and some suspect it concerns the potential international treaty consequences. Rep. Earl Blumenauer (D-OR) has requested clarification on the request from HHS.

A Democratic congresswoman has separately implored DEA to “reject any argument” that rescheduling marijuana under federal law would constitute a violation of international treaty obligations. She also asked the agency to reveal a list of any “outside partners” it has met with to discuss the global implications of a potential cannabis reclassification.

The UN’s International Narcotics Control Board (INCB) did recently reiterate that it considers legalizing marijuana for non-medical or non-scientific purposes a violation of international treaties.

Here’s a full list of the groups that signed the recent letter to Romney, as well as a copy of the letter itself:

• Acreage Holdings
• Ascend Wellness Holdings
• Asian Americans for Cannabis Education
• American Trade Association of Cannabis and Hemp AYR Wellness
• Bada Bloom
• Balanced Veterans Network
• Cannabist Company
• ConBud
• Cresco Labs
• Dutchie
• Good Day Farm
• Green Thumb Industries
• Hemp for Victory
• Hero Grown
• Holistic Solutions
• Holistic Industries
• Housing Works
• IAVA
• Jushi Holdings
• Justus Foundation
• Kush Culture Industries
• Law Enforcement Action Partnership
• Lume Cannabis Co.
• Major Bloom
• Majority Minority Group Marcu Enterprises Marijuana Policy Project MoodiDay
• National Cannabis Roundtable
• National Hispanic Cannabis Council (NHCC) Native Roots Dispensary
• New York CAURD Coalition
• New York for Social and Economic Equity Perkins Coie LLP
• PharmaCann Inc.
• Phylos Bio
• Physicians Research Center, LLC
• Porter Wright
• PPP Dispensary
• Quality Roots
• Queen City Remedies
• Realm of Caring
• Santa Cruz Veterans Alliance
• Scotts Miracle-Gro
• Simply Pure Trenton
• Tetragram Inc.
• The Bronx Community Foundation
• The Travel Agency: A Cannabis Store
• The Weldon Project
• Trulieve
• Tuatara Capital
• United States Cannabis Council
• Valley Wellness
• Verano Holdings
• Vicente LLP
• Wana Brands
• Wyld
• Veterans Cannabis Project

Marijuana Rescheduling Could ‘Ease Researcher Access’ For Studies, Federal Agency Says In Overdue Report To Congress

 

The post GOP Senator Is Wrong About International Treaties Preventing Marijuana Rescheduling, Cannabis Companies And Advocacy Organizations Say appeared first on Marijuana Moment.

420GrowLife

via www.KahliBuds.com

Ben Adlin, KahliBuds, 420GrowLife

#KahliBuds #MMJ #CBD #THC

“As one of the few majority-Black-owned licensed manufacturers, this support holds profound significance.”

By Bhaamati Borkhetaria, Commonwealth Beacon

After nearly two years of delays, a social equity fund designed to help struggling marijuana businesses finally began dispensing some money, with Gov. Maura Healey (D) handing out $2.3 million in grants and laying plans to build the fund up to $27.4 million later this year.

The Cannabis Social Equity Trust Fund was signed into law in 2022 to steer a portion of marijuana tax revenues to “entrepreneurs from communities that have been disproportionately harmed by marijuana prohibition and enforcement.” The fund sat empty for many months, largely because of the way the law was drafted.

Now that those drafting issues have been resolved with legislation passed in December, Healey is starting to push money out the door, starting with grants ranging from $20,000 to $50,000 to 50 cannabis businesses in 28 different communities.

Phil Smith, who received a $50,000 grant for his business, Freshly Baked Co. of Taunton, said the money would help him pay off loans to ensure some stability.

“As one of the few majority-Black-owned licensed manufacturers, this support holds profound significance, affirming our commitment and the state’s commitment to breaking barriers and fostering inclusivity in the cannabis industry,” said Smith.

Stakeholders were disappointed last summer when it was revealed that a much smaller starting amount of $2 million to $4 million would actually make it into the fund. However, Juan Vega, the assistant secretary of the Executive Office of Economic Development, said the fund should grow to more than $27 million later this year.

“I believe that part of what this fund is meant to do is to try to address this issue that a lot of social equity applicants and economic empowerment priority applicants have,” said Vega. “[They] do not have access to massive capital, do not have deep pockets, do not have the ability to draw from a larger operator. The intent here is to try to level the playing field a bit and provide some much-needed capital and cash to these businesses.”

With cannabis prices down and many operators buckling under the debt they’ve taken on to keep their businesses afloat, some cannabis operators doubt the $2.3 million is going to save many companies.

“I think the social equity fund is a great idea, but the $50,000 grants are not gonna help any business survive,” said Sean Hope, the owner of the Cambridge dispensary Yamba, who did not receive a grant on Tuesday. “Frankly, that amount of money is too little too late for a lot [of us]. And we’re gonna apply for it, and we’ll gratefully accept it, but I think you’re gonna continue to see closures over the next eight to 10 months despite getting the $50,000.”

The social equity fund law required 15 percent of marijuana tax revenues to be funneled into the trust fund. In 2022, the state collected $156.7 million in marijuana taxes, which could have meant more than $20 million could have ended up in the trust fund.

Cannabis operators are struggling across the state and the biggest ask that many have is for capital. Many operators are struggling to even open their businesses and those with open storefronts are having a hard time becoming profitable while still paying off their debts.

Because cannabis is illegal on the federal level, cannabis businesses are unable to secure funding in the ways many traditional businesses do. Operators often can’t take out small business loans because banks and credit card companies are unwilling to work with them.

Social equity operators are particularly suffering because that group historically hasn’t had access to capital. The social equity programming in Massachusetts was set up to address this gap and help entrepreneurs from communities harmed by the war on drugs build wealth. However, without a functioning social equity trust fund, these companies have slowly accumulated more and more debt as they go through the cumbersome regulatory process of opening a business.

“It’s an extremely expensive process, and I can’t think of one other business in the world that could compare to dispensaries in terms of startup costs,” said Kijana Rose, a cannabis business owner based in Roslindale who sells vegan cannabis baked goods. “While the fees for the licenses themselves might not be so astronomical, the bureaucratic process in order to get there is extremely expensive. There’s a lot of debt that’s gonna be incurred.”

The head of the Massachusetts Cannabis Coalition, Ryan Dominguez, said that he would have loved to see the social equity trust fund get funded and give out grants much sooner but that he’s glad it’s running now.

“I do think that a lot of operators are dealing with a host of issues right now,” said Dominguez. “So I think that these immediate grant funds can help to stabilize maybe some of those, but I just know that a lot of these kind of $50,000 grants will probably get spent immediately. I think it’s a good first step but there’s definitely a need for more.”

This article first appeared on CommonWealth Beacon and is republished here under a Creative Commons license.

Hemp Market Saw Growth In 2023 After Major Declines In 2022, USDA Report Shows

The post After Long Delay, Marijuana Social Equity Fund In Massachusetts Awards $2.3 Million In Grants To Cannabis Businesses appeared first on Marijuana Moment.

420GrowLife

via www.KahliBuds.com

Marijuana Moment, KahliBuds, 420GrowLife

#KahliBuds #MMJ #CBD #THC

NM gov presses feds on marijuana seizures; Fed cannabis research report; Lawmakers & brands mark 4/20; NH medical expansion; PA patients’ gun rights

Subscribe to receive Marijuana Moment’s newsletter in your inbox every weekday morning. It’s the best way to make sure you know which cannabis stories are shaping the day.

Your support makes Marijuana Moment possible…

Before you dig into today’s cannabis news, I wanted you to know you can keep this resource free and published daily by subscribing to Marijuana Moment on Patreon. We’re a small independent publication diving deep into the cannabis world and rely on readers like you to keep going.

Join us at https://www.patreon.com/marijuanamoment

/ TOP THINGS TO KNOW

President Joe Biden and Vice President Kamala Harris both touted their support for marijuana law reform at exactly 4:20 p.m. on 4/20 in joint social media posts.

White House Press Secretary Karine Jean-Pierre said on the eve of 4/20 that President Joe Biden has been “very, very clear” about his support for decriminalizing marijuana—adding that a cannabis rescheduling review is still under consideration by the Department of Justice.

New Mexico Gov. Michelle Lujan Grisham (D) met with Homeland Security Secretary Alejandro Mayorkas to push back against a recent spate of seizures of marijuana products from licensed businesses in her state by Customs and Border Protection agents.

Rep. Earl Blumenauer(D-OR)  said this year will be the “last 4/20 celebration that cannabis will be on Schedule I”—adding that lawmakers are “making progress” on passing a cannabis banking bill soon.

• “Every day we’re closer on SAFE Banking.”

A new report from the National Highway Traffic Safety Administration on barriers to marijuana research concludes that “rescheduling cannabis may ease researcher access to products”—though it sidesteps a congressional mandate for recommendations on letting scientists study dispensary products.

The Democratic Legislative Campaign Committee marked 4/20 by calling out Virginia Gov. Glenn Youngkin (R) for vetoing marijuana sales legalization and resentencing bills—saying the moves are “hindering economic opportunity and needed criminal justice reform.”

A new poll found that 6 in 10 Americans are “surprised marijuana hasn’t been legalized across the United States yet”—and that 4 in 10 are current consumers, with most of them saying they prefer cannabis to alcohol or cigarettes.

Elected officials used the 4/20 holiday to spread the message that marijuana reform is a mainstream political issue.

Major brands and organizations latched onto cannabis culture with a variety of 4/20 promotions and deals this year.

New Hampshire House and Senate committees held hearings on a variety of bills to expand the medical cannabis program—including measures to legalize home cultivation for patients and allow doctors to recommend marijuana for any condition they see fit.

A Nebraska bill that would have set a 25 percent tax on consumable hemp and CBD products—down from an initially proposed 100 percent rate—died with the end of the legislative session amidst a filibuster.

A Pennsylvania Republican senator filed a bill to let medical cannabis patients obtain licenses to carry guns.

The Minnesota House of Representatives passed a bill making changes to marijuana social equity rules and the process for awarding business licenses.

/ FEDERAL

Former Senate Majority Leader Tom Daschle (D-SD) spoke in support of a pending federal marijuana reform bill at a cannabis happy hour event.

Senate Banking Committee Chairman Sherrod Brown (D-OH) reiterated his support for combining marijuana banking legislation with measures on cryptocurrency and other issues.

Rep. Nancy Mace (R-SC) tweeted, “Schumer could have done Safe Banking in the 117th Congress, but he didn’t have the cajones to do it… This is just more of the same, say one thing, do another, DC BS. Both sides are particularly well-versed at it.”

Rep. Barbara Lee (D-CA) said lawmakers have “been negotiating on SAFE banking for a while.”

The House Ethics Committee is reportedly investigating an allegation that Rep. Matt Gaetz (R-FL) used illicit drugs as a member of Congress.

The House marijuana banking bill got two new cosponsors for a total of 115.

/ STATES

New York Gov. Kathy Hochul (D) announced new plans to shut down unlicensed marijuana businesses under provisions included in budget legislation. A senator touted various “wins” for cannabis in the budget deal, while other lawmakers decried the lack of relief funds for farmers.

Illinois Gov. J.B. Pritzker (D) touted the economic impact of his state’s marijuana legalization law while campaigning for President Joe Biden’s reelection.

Oklahoma’s attorney general cheered the House’s passage of a bill that will allow police to arrest and incarcerate undocumented immigrants, which he said will assist his efforts to “eliminate Oklahoma’s numerous illegal marijuana grows often run by foreign nationals.”

Oregon regulators approved rules on marijuana batch tagging and published a related informational bulletin.

California regulators announced a recall of marijuana products due to the presence of aspergillus and because of inaccurate labeling reporting more THC than the product contains.

Missouri regulators issued a health advisory about risks associated with hemp-derived intoxicating cannabinoids.

The Eastern Band of Cherokee Indians, located within North Carolina, began medical cannabis sales, with plans to expand to recreational marijuana soon.

Washington State sent tips about staying compliant at 4/20 celebrations.

Missouri regulators’ marijuana tracking system crashed on 4/20.

Connecticut and West Virginia officials sent reminders about the dangers of impaired driving ahead of 4/20.

Arkansas regulators announced that the state now has more than 100,000 registered medical cannabis patients.

—
Marijuana Moment is tracking more than 1,400 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.

Learn more about our marijuana bill tracker and become a supporter on Patreon to get access.
—

/ LOCAL

Springfield, Alabama City Council members criticized the mayor for hosting a 4/20 event.

/ INTERNATIONAL

Belgium’s Federal Parliament approved an informational report on cannabis and drug policies.

The Australian Therapeutic Goods Administration issued a notice about “questionable” medical cannabis products.

/ SCIENCE & HEALTH

A study found that “there was a robust effect of CBD across all focal seizure subtypes in patients with” tuberous sclerosis complex.

A study of rats suggested that cannabidiol lipid nanoparticles “holds promise as an intervention addressing both metabolic and neurodegenerative aspects of [diabetic Parkinson’s disease], offering a potential therapeutic strategy.”

/ ADVOCACY, OPINION & ANALYSIS

The Democratic Legislative Campaign Committee tweeted, “Every state legislature under Democratic control has legalized or decriminalized cannabis. In fact, there are only four states that haven’t legalized or decriminalized some form of cannabis – and they’re all led by Republicans.”

Cannabis Association of New York members are threatening to leave the group over a letter its leaders sent urging state officials not to issue a large number of new marijuana business licenses.

/ BUSINESS

Canopy Growth Corporation announced that Constellation Brands, Inc. subsidiaries exchanged their common shares in the company for exchangeable shares and that it has a new board of directors.

Eaze workers ratified their first statewide three-year contract.

/ CULTURE

Former basketball player Carmelo Anthony is launching his own cannabis brand.

The San Francisco Museum of Modern Art is featuring a collection of bongs in its gift shop.

Make sure to subscribe to get Marijuana Moment’s daily dispatch in your inbox.

The post Biden celebrates 4/20 with cannabis reform push (Newsletter: April 22, 2024) appeared first on Marijuana Moment.

420GrowLife

via www.KahliBuds.com

Tom Angell, KahliBuds, 420GrowLife

#KahliBuds #MMJ #CBD #THC

A Nebraska bill containing a provision to set a 25 percent tax rate on hemp and CBD products—down from an initially proposed rate of 100 percent—fell apart this week, with its sponsor acknowledging on the final day of the state’s legislative session that it did not have the votes to overcome a filibuster.

Sen. Lou Ann Linehan (R) asked the measure be pulled from the agenda on Thursday.

“I’m willing to come back this summer, this fall, whenever,” Linehan said during floor debate. “But I hope we have a lot of conversations between now and then about all your perfect answers to this problem. Because it’s easy to say, ‘No, no, no.’ That’s real easy. So everybody who’s saying we can do better, I hope you have those ideas to the Revenue Committee by the end of June.”

The measure, LB 388, is part of a broader debate on how lawmakers want to balance sources of state revenue. Residents, many lawmakers have argued, regularly complain property taxes are too high, and proponents of the bill have said raising sales taxes would prevent further state reliance on property taxes to fund schools. Opponents, however, criticized the bill’s overall increase in taxes, with some Democrats noting that sales taxes in particular would hit poorer Nebraskans hardest.

The failure of the bill and its included hemp and CBD provisions, among a host of other changes, means the legislature is likely headed to a special session to deal with tax issues this summer.

As for the proposed hemp and CBD sales tax hike, Linehan’s initial proposal contained a 100 percent tax rate on CBD and consumable hemp products. An amendment approved last week, however, reduced that rate to 25 percent, which lawmakers said was the result of negotiations with industry representatives,

“The 100% tax was unworkable for CBD companies in our state. They were concerned it would drive them out of business,” Sen. Anna Wishart (D), who’s backed past efforts to end marijuana prohibition in the state, told Marijuana Moment in an email at the time. “In talking with representatives from a group of CBD companies in the state, I worked with them and other senators to negotiate the tax down to 25%.”

Linehan’s office did not respond to Marijuana Moment’s request for comment about the updated tax rate last week, although in March she had told local media that the 100 percent hemp tax proposal was intended as a starting point for negotiations.

“Are we going to keep it 100 percent? No, we’re not,” Linehan said.

Some lawmakers had said in an earlier debate on the proposal that the tax was out of step with rates set on CBD and hemp products in other states and that, if the goal of the bill was to raise revenue, Nebraska should consider legalizing and regulating marijuana.

“I looked around. I saw some statistics on other states—neighboring states—and it’s a lot lower. Definitely not 100 percent,” Sen. Terrell McKinney (D) said. “So we’re not going to be comparable to our neighboring states if we tax it at 100 percent.”

“Honestly speaking, what we really need to have a conversation about in our state, in the state of Nebraska, is our refusal to open ourselves up to other revenue streams,” he continued. “One revenue stream that we should open ourselves up to is the legalization of marijuana.”

Neither medical nor adult-use cannabis are legal in Nebraska, though activists are working to change that this year.

“We have a brain-drain issue,” said Sen. Jen Day (D), “and we refused to recognize that and address it from the other policy perspectives that caused the issues with brain drain—one of those being the fact that we have chosen year after year after year not to legalize even medical cannabis in the state.”

“Through the end of 2022, states have reported a combined total of more than $15 billion in tax revenue from legal adult-use cannabis sales,” she noted.

Adam Morfeld, a former Nebraska state senator who now co-chairs the advocacy group Nebraskans for Medical Marijuana, posted to social media ahead of last week’s amendment that the situation showed that the state’s “policies dealing with hemp, CBD and marijuana are so backwards.”

Some lawmakers have lamented that the complex measure’s many provisions seemed to come out of nowhere, although sponsor Linehan and others said on the floor last month that the details were taken from other bills that lawmakers had introduced and debated. The hemp and CBD tax, for instance, ostensibly came out of LB 1341, introduced in January by Sen. Justin Wayne (D) and apparently never acted on by lawmakers.

That bill as introduced indeed would have increased taxes on consumable hemp, but only to 7.5 percent.

—
Marijuana Moment is tracking more than 1,400 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.

Learn more about our marijuana bill tracker and become a supporter on Patreon to get access.
—

The proposal comes as the state, like many others across the country, witnesses an explosion of hemp-derived products, including intoxicating cannabinoids such as delta-8 THC. Late last year, the state’s attorney general, Mike Hilgers (R), filed suit against retailers in the state over their sale of delta-8 products.

Meanwhile, activists are hoping to qualify two medical cannabis initiatives for November’s ballot.

A recent poll by the campaign found 70 percent support in the state for legalizing medical marijuana.

Organizers at Nebraskans for Medical Marijuana (NMM) have been petitioning for the change since July, about two months after turning in a pair of complementary ballot proposals to the secretary of state’s office.

The governor has already voiced opposition to the reform effort, saying in September that legalization “poses demonstrated harms to our children,” and that medical cannabis should only be accessible if its approved by FDA.

Late last year, NMM told Marijuana Moment that the governor’s argument was a “cop out,” and she says the campaign will let voters decide for themselves.

One of NMM’s earlier campaigns gathered enough signatures for ballot placement in 2020, but the measure was invalidated by the state Supreme Court following a single-subject challenge. Supporters then came up short on signatures for revised petitions in 2022 due in large part to the loss of funding after one of their key donors died in a plane crash.

Nebraska lawmakers, including campaign co-chair Sen. Anna Wishart (D), have also attempted to enact the reform legislatively, but cannabis bills have consistently stalled out in the conservative legislature.

Wishart’s medical cannabis bill received a hearing in the unicameral Judiciary Committee in February, but it did not advance. She attributed the inaction to changes in committee membership. An earlier version of the measure ultimately stalled out in the GOP-controlled legislature amid a filibuster that supporters could not overcome.

GOP Congressman Claims Top Federal Drug Official ‘Adamantly Opposes’ Marijuana Rescheduling, But Agency Endorsed FDA Recommendation

The post Nebraska Bill With 25% Tax Rate On CBD And Consumable Hemp Products Is Dead As Legislative Session Draws To Close appeared first on Marijuana Moment.

420GrowLife

via www.KahliBuds.com

Ben Adlin, KahliBuds, 420GrowLife

#KahliBuds #MMJ #CBD #THC



420GrowLife

via www.KahliBuds.com

Jeremiah Vandermeer, KahliBuds, 420GrowLife

#KahliBuds #MMJ #CBD #THC

President Joe Biden and Vice President Kamala Harris both touted their support for marijuana law reform to mark the cannabis holiday 4/20 at exactly 4:20 p.m. on Saturday.

The comments are latest sign the administration plans to continue to focus on the popular issue ahead of the November election.

“Sending people to prison just for possessing marijuana has upended too many lives and incarcerated people for conduct that many states no longer prohibit,” the president said in a post on X. “It’s time that we right these wrongs.”

Sending people to prison just for possessing marijuana has upended too many lives and incarcerated people for conduct that many states no longer prohibit.

It’s time that we right these wrongs. pic.twitter.com/0avI1FmWf9

— Joe Biden (@JoeBiden) April 20, 2024

“Nobody should have to go to jail for smoking weed,” the vice president said in her own tweet at the same time. “We must continue to change our nation’s approach to marijuana while reforming the justice system so it finally lives up to its name.”

Nobody should have to go to jail for smoking weed.

We must continue to change our nation’s approach to marijuana while reforming the justice system so it finally lives up to its name. pic.twitter.com/AJFmexf8a3

— Kamala Harris (@KamalaHarris) April 20, 2024

A day before, on Friday, White House Press Secretary Karine Jean-Pierre said Biden has been “very, very clear” about his support for decriminalizing marijuana. She added that the administration is waiting for the Justice Department to complete its review into cannabis scheduling and doesn’t have any additional updates on advancing reform or further expanding pardons.

She was responding to a question at a press briefing about advocates’ criticism that Biden has not yet fulfilled his campaign pledge to federally decriminalize marijuana, even though he has taken meaningful steps by directing the scheduling review and granting hundreds of cannabis pardons.

“Look, on decriminalization the president has been very, very clear he doesn’t believe that anyone should be in jail or be prosecuted just for using or possessing marijuana,” she said. “He continues to say that. He believes that.”

That was the second time the White House has been asked about marijuana policy in the last week, as discussions around reform have been amplified around the cannabis holiday 4/20. As was the case earlier this week, Jean-Pierre reiterated that the U.S. Department of Health and Human Services (HHS) has recommended moving marijuana from Schedule I to Schedule III of the Controlled Substances Act (CSA) based on a review that was “guided by evidence [and] by science,” which is “what we believe here in this administration.”

“The scheduling review is now with the Department of Justice. Certainly, the process is still going—the review is still going—so DOJ has this,” she said. “But the president has been really, really clear about how he feels about people being prosecuted just for using or possessing marijuana. That has not changed.”

Asked whether there are any plans to further expand on the marijuana pardons the president has issued, the press secretary said “as it relates to pardons, I don’t have anything to preview at this time.”

“But look, there’s a review that Department of Justice is currently undergoing, so we’ve got to let them do their review,” she said. “The president has been pretty clear on where he stands on this, and so I would refer to Department of Justice on on rescheduling and their review.”

While the administration has repeatedly promoted Biden’s marijuana scheduling directive and pardons, especially in recent months as the presidential election approaches, it’s notable that the press secretary used the word “decriminalization” to discuss his position on the issue. Biden campaigned on decriminalization, but that specific language hasn’t been employed of late.

That might have to do with the reality that even moving marijuana to Schedule III as HHS has recommended would not, in fact, decriminalize it—nor do the president’s clemency actions to date constitute a formal decriminalization policy.

That’s why a group of 20 justice and drug reform advocacy organizations called on Biden and Vice President Kamala Harris to publicly support the removal of marijuana from the CSA, rather than merely a move to Schedule III, in a letter to the White House on Tuesday, as a reporter referenced in his questions to Jean-Pierre on Friday.

While DEA has not given a specific sense of timing for when it will complete and submit its cannabis review, there are heightened expectations that it will come before the November election—both because of past precedent in scheduling matters and because the Biden administration has become increasingly vocal about its role in facilitating the review.

Biden has continued to tout the marijuana scheduling directive and cannabis pardons he’s issued, including in a presidential proclamation declaring April “Second Chance Month.”

The president also discussed the marijuana actions in a historic context last month, during his State of the Union address.

Harris, meanwhile, separately urged DEA to finish its review and reschedule marijuana “as quickly as possible” while meeting pardon recipients for a roundtable event at the White House last month. Behind closed doors, she also said “we need to legalize marijuana.”

The head of the Food and Drug Administration (FDA) under HHS told congressional lawmakers last week that there’s “no reason” for DEA to “delay” making a marijuana scheduling decision.

A DEA official recently said it sometimes takes up to six months for DEA to complete its analysis of health officials’ scheduling recommendations—which is just about how long it has now been since the agency began its current cannabis assessment.

Meanwhile, last month, HHS Secretary Xavier Becerra defended his agency’s rescheduling recommendation during a Senate committee hearing and also told cannabis lobbyist Don Murphy that he should pay DEA a visit and “knock on their door” for answers about the timing of their decision.

Certain DEA officials are reportedly resisting the Biden administration’s rescheduling push, disputing the HHS findings on marijuana’s safety profile and medical potential, according to unnamed sources who spoke with The Wall Street Journal.

Meanwhile, a Democratic congressman said on Friday that this Saturday will be the “last 4/20 celebration that cannabis will be on Schedule I,” adding that he’s “quite confident” the GOP House will take up a bipartisan cannabis banking bill if lawmakers “break this loose in the Senate.”

Marijuana Rescheduling Could ‘Ease Researcher Access’ For Studies, Federal Agency Says In Overdue Report To Congress

The post Joe Biden And Kamala Harris Tweet About Marijuana At Exactly 4:20 On 4/20 appeared first on Marijuana Moment.

420GrowLife

via www.KahliBuds.com

Kyle Jaeger, KahliBuds, 420GrowLife