Taxpayers in California may have to spend $100 million to “bailout” the failing marijuana industry as the legal market struggles to compete with the illegal trade of drugs in the Golden State.
“Los Angeles will be the biggest beneficiary of the money, which was proposed by Gov. Gavin Newsom to be provided as grants to cities and counties to help cannabis businesses transition from provisional to regular licenses,” reports the Los Angeles Times.
“California voters approved Proposition 64 five years ago and entrusted the Legislature with creating a legal, well-regulated cannabis market,” said Assemblyman Phil Ting (D-San Francisco), the chairman of the Assembly Budget Committee. “We have yet to reach that goal.”
California offers $100 million to rescue its struggling legal marijuana industry https://t.co/wXpdPc7w5U
— Los Angeles Times (@latimes) June 14, 2021
“Separately, the governor wants to give cannabis businesses a six-month extension beyond a Jan. 1 deadline to transition from provisional licenses by complying with mandates of the California Environmental Quality Act. That extension, which faces opposition for delaying promised environmental safeguards, was not included in the state budget bill approved Monday and is still being negotiated with lawmakers,” adds the LA Times.
Read the full report here.
BREAKING NOW: Illinois Governor Signs Law Legalizing ‘Recreational Marijuana’ and ‘Commercial Sale’
Illinois Governor JB Pritzker signed into law new legislation Tuesday that will legalize the possession and consumption of recreational marijuana on January 1st, 2020.
“Supporters say it will be a game-changer for revenue in the state, while opponents say it makes the state more dangerous,” reports ABC Chicago. “Tuesday morning, the governor put pen to paper here in the Austin neighborhood, legalizing the recreational use of marijuana and it’s commercial sale in the state.”
NEW: Illinois has become the latest state to legalize marijuana. The bill, signed by Gov. JB Pritzker, will also "clear the cannabis-related records of nonviolent offenders." https://t.co/bwIk70AVqF
— ABC News (@ABC) June 25, 2019
“As the first state in the nation to fully legalize adult-use cannabis through the legislative process, Illinois exemplifies the best of democracy: a bipartisan and deep commitment to better the lives of all of our people,” said Gov. JB Pritzker. “Legalizing adult-use cannabis brings an important and overdue change to our state, and it’s the right thing to do. This legislation will clear the cannabis-related records of nonviolent offenders through an efficient combination of automatic expungement, gubernatorial pardon and individual court action. I’m so proud that our state is leading with equity and justice in its approach to cannabis legalization and its regulatory framework. Because of the work of the people here today and so many more all across our state, Illinois is moving forward with empathy and hope.”
“My office is proud to have helped develop this historic legislation, which will provide conviction relief to hundreds of thousands of Illinois residents in the most extensive and equitable way possible,” said Cook County State’s Attorney Kim Foxx. “The time for justice is now, especially for communities of color who have long been disproportionately impacted by low-level cannabis convictions and the failed war on drugs. We look forward to continuing our efforts to ensure the broadest relief possible under this revolutionary law.”
This is a developing story. Check back for updates.
GOING GREEN? NY Gov. Cuomo Seeks to Legalize Recreational Marijuana in Early 2019
New York Governor Andrew Cuomo unveiled his proposal Monday to legalize recreational marijuana use throughout the state; saying the move would generate billions to help the region’s aging infrastructure and massive pension plans.
“Gov. Andrew M. Cuomo announced that he would push to legalize recreational marijuana next year, a move that could bring in more than $1.7 billion in sales annually and put New York in line with several neighboring states,” writes the New York Times.
“The fact is we have had two criminal justice systems: one for the wealthy and the well off, and one for everyone else,” said the governor. “Let’s legalize the adult use of recreational marijuana once and for all.”
Ten other states and the District of Columbia have legalized the use of recreational marijuana in recent years; implementing a series of different laws over how the substance can be purchased and where it can be used.
Read the full report at the New York Times.