Newsletter
NJ gov signs 280E cannabis tax bill (Newsletter: May 10, 2023)
Senators want SBA loans for marijuana biz; CA drug war reparations; Bankers want SAFE; NH legalization vote; NORML psychosis op-ed
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/ TOP THINGS TO KNOW
Sen. Jacky Rosen (D-NV) led a group of eight senators in urging Appropriations Committee leaders to take steps to ensure cannabis businesses can access federal Small Business Administration loans and other services.
Washington State Gov. Jay Inslee (D) signed a bill to protect job applicants from anti-marijuana discrimination during the hiring process.
New Jersey Gov. Phil Murphy (D) signed a bill to decouple state tax policy from the federal 280E provision, thereby allowing marijuana companies to deduct business expenses in their state filings.
The California Task Force to Study and Develop Reparation Proposals for African Americans is proposing to compensate about two million Black people with a total of nearly $228 billion for racially disproportionate harms that resulted from the war on drugs.
The New Hampshire Senate Judiciary Committee voted to recommend that the body kill House-passed marijuana legalization bills as well as a medical cannabis home cultivation measure—but they will still come up for floor consideration, as soon as Thursday.
The American Bankers Association is calling on Congress for “swift passage” of marijuana banking legislation that’s set to get a Senate hearing this week.
NORML Deputy Director Paul Armentano argues in a new Marijuana Moment op-ed that an emerging alarmist media narrative about cannabis and psychosis largely ignores the actual science on the topic.
/ FEDERAL
The National Institute on Drug Abuse is funding research on safe consumption sites for illegal drugs in New York City and Rhode Island.
The Drug Enforcement Administration and Substance Abuse and Mental Health Services Administration issued a temporary rule to extend telemedicine flexibilities.
A Customs and Border Protection official spoke at a Senate Appropriations Committee hearing about drug trafficking organizations’ “ability to rapidly respond to changes in the drug environment such as the legalization of marijuana.”
Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT) spoke about the prospects for their marijuana banking bill.
Rep. Nancy Mace (R-SC) spoke about her deal with House Speaker Kevin McCarthy (R-CA) to get a committee vote on her marijuana legalization bill and advance other issues, saying, “It’s important that I use my one voice and my one vote, my one voice, to advocate and work on the things that South Carolina cares about and the country cares about.”
Rep. Marjorie Taylor Greene (R-GA) retweeted a video of President Joe Biden as a senator advocating for drug interdiction, saying, “Joe Biden used to care about the war on drugs & border security, but the Joe Biden in this video isn’t around anymore.”
/ STATES
Illinois Gov. J.B. Pritzker’s (D) office said he supports a proposal to consolidate marijuana oversight under a single regulatory agency.
California regulators are modifying rulemaking for standard cannabinoids test method and standardized operating procedures regulations.
A New Mexico courts official spoke about efforts to expunge marijuana records.
A New York regulator discussed steps to combat unlicensed marijuana sales.
Vermont regulators will hold a networking event on compliant cannabis packaging on Thursday.
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Marijuana Moment is tracking more than 1,000 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.
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/ LOCAL
Denver, Colorado officials posted information about the process for marijuana business applications.
/ INTERNATIONAL
Ugandan judiciary officials are pushing back against claims that a recent court ruling invalidating a drug law has resulted in the legalization of marijuana.
/ SCIENCE & HEALTH
A review highlighted “CBD’s promising biological features for dentistry application.”
A case study of medical cannabis, melatonin and oxygen–ozone therapy to treat glioblastoma multiforme showed “a complete and durable remission of the disease and long survival.”
/ BUSINESS
Ascend Wellness Holdings, Inc. reported quarterly net revenue of $114.2 million and a net loss of $18.5 million.
WM Technology, Inc. reported quarterly revenue of $48 million and a net loss of $4 million.
MariMed Inc. reported quarterly revenue of $34.4 million and a net loss of $664,000.
Cronos Group Inc. reported quarterly net revenue of $20.1 million and a net loss of $19.3 million.
Innovative Industrial Properties, Inc. reported quarterly revenue of $76.1 million.
Emerge Law Group was ordered to pay $7 million in a legal malpractice case brought by Tidewater Investments, LLC over a failure to identify zoning restrictions.
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