Congressional Committee Declines to Approve Cannabis Banking Regulations
A congressional committee decided against amending banking rules for the cannabis industry.
If enacted, the new regulations would have prevented the U.S Department of Treasury from attempting to penalize a financial institution solely because the institution provides financial services to an entity that is a manufacturer, producer, or a person that participates in any business or organized activity that involves handling marijuana or marijuana products in compliance with state and local law.
After considerable debate, the House Appropriations Committee rejected the regula....
California Senate Approves Bill to Establish Marijuana Banks and Credit Unions
Legislation that would allow for the creation of a special class of state-chartered banks and credit unions that could service Californias legal marijuana industry has been passed by the full Senate.
The status quo for our growing legal cannabis industry is unsustainable, says SenatorRobert Hertzberg D, who filed Senate Bill 930. Its not only impractical from an accounting perspective, but it also presents a tremendous public safety problem. This bill takes a limited approach to provide all parties with a safe and reliable way to move forward on this urgent issue.
The measure was approved by the full Senate yesterday in a 29 to 6 vote. The vote sends the bill to the House of Representatives, where passage would send it to the desk of Governor Jerry Brown.
Oregon marijuana prices plummet due to massive oversupply
Oregons marijuana consumers are currently enjoying historically low prices, but the future of the states small businesses have become uncertain.
The states marijuana prices have fallen dramatically as the legal market has produced a considerable surplus of products, reports CBS News.
A study by the states Office of Economic Analysis found that the average price of a gram fell by more than 50 percent in the past year, from $14 in 2015 to $7 in 2017. Oregon currently carries nearly 1 million pounds of marijuana to serve over 4 million people.
Data from the Oregon Liquor Co....
Oregon to pause accepting marijuana license applications
FILE - In this May 25, 2016, file photo, Oregon Liquor Control Commission member Marvin Revoal, left, moves an artificial marijuana plant during a hearing at the OLCC in Portland, Ore. Faced with a backlog of applications for recreational marijuana licenses, the Oregon Liquor Control Commission says it will set aside any applications received after June 15, 2018, until the pileup is cleared. (image:Andrew Selsky, File/Associated Press)
Faced with a backlog of applications for recreational marijuana licenses, the Oregon Liquor Control Commission says it will set aside any applications received after June 15 until the pileup is cleared.
The commission says it has issued almost 1,900 recreational marijuana licenses since April 2016 as well as almost 29,000 marijuana worker permits.
The agency says the pace of application submissions has not eased, causing the review process to lengthen.
To power through the backlog, the agency says it will temporarily shift employees to focus on renewals and applications ....
Five reasons why lighting giant Osrams acquisition of Fluence is a big deal for cannabis
One of the marijuana industrys largest lighting suppliers, Fluence Bioengineering, is about to go global, and marijuana industry watchers are taking note.
The deal signals increased interest from international businesses and investors in well-positioned U.S. ancillary cannabis companies.
Fluence, an Austin, Texas-based company that makes LED-based lighting systems for commercial farming, was recently acquired by Osram for undisclosed terms.
Munich-based Osram is a 4.1 billion euro international lighting manufacturer that trades as OSR on the European exchanges.
Canada Senate Committee Approves Marijuana Legalization Bill
Legislation to legalize marijuana, which has already been passed by Canadas House of Commons, has been given approval by a key Senate committee.
The Senate committee passed 40 amendments Monday to Bill C-45, including one that would allow provinces and territories to ban homegrown marijuana. Most of the other amendments were technical in nature and didnt fundamentally change the measure 29 of the 40 were actually introduced by the bills primary sponsor.
Bill C-45 was passed by the House of Commons in November by a vote of 200 to 82. In March the Senate voted 44 to 29 to pass it through its 2nd reading. The measure must now be passed through a third reading in the Senate before it can be sent to the Governor General....
Californias legal marijuana businesses blow whistle on unlicensed operators
A number of permit-holding marijuana retailers in California view unlicensed competitors as serious threats.
While fully compliant cannabis retailers across the Golden State are being forced to pass high tax rates on to their customers, some brazen unlicensed dispensaries advertise that they dont pay state or local taxes, meaning their marijuana is far cheaper than prices at law-abiding shops.
The disparity has led licensed retailers to file complaints with the California Bureau of Cannabis Control about many of those unlicensed competitors, plenty of whom were identified....
Marijuana Legalization Bill Filed in North Carolina
Legislation that would legalize recreational marijuana has been filed in North Carolinas House of Representatives
Filed by Representative Kelly Alexander Jr. D, House Bill 944 would allow those 21 and older to legally possess up to four ounces of marijuana for personal use. The bill would raise the threshold for felony possession from 1.5 ounces to 16 ounces; possessing over four ounces, but less than 16, would be a misdemeanor.
In addition, the measure would also allow those convicted of possessing up to four ounces of marijuana before the law would take effect to petition the court to have the charge expunged removed from their criminal record.....
Exclusive: US marijuana sales may reach $10 billion this year, $22 billion by 2022
Eli McVey, John Schroyer and Jenel Stelton-Holtmeier
Retail sales of medical and recreational cannabis in the United States are expected to hit $8 billion-$10 billion this year a nearly 50 percent increase from 2017 and rise as high as $22 billion by 2022.
Thats according to exclusive projections from the 2018 edition of the Marijuana Business Factbook released Wednesday at the start of MJBizConNEXT in New Orleans.
The anticipated explosive industry growth is a backdrop for MJBizConNEXT, which is hosted by Marijuana Business Daily. The industry conference is expected to draw 3,000 marijuana professionals and 280-plus exhi....
Welcome to the latest edition of NORMLs Weekly Legislative Roundup
Lets talk about some new state-level developments. The Maine House of Representatives and Senate overrode Gov. Paul LePages R veto of marijuana legalization implementation legislation this week. The enactment of the legislation establishes a framework for the retail sale of marijuana to adults, but also amends numerous provisions of the 2016 voter-approved measure including those specific to home grow limits and taxation.
The New Approach Missouri medical cannabis campaign submitted 372,483 petition signa....
We make every effort to provide timely and accurate information, however we cannot guaranty the accuracy of these listings.
To correct a listing, please use the corrections link or contact the web master, Mark.
This web site contains no advertising. Listings in this directory are licensed business. Reviews and editorials are the opinion of the author only, not those of the National Cannabis Review.