News

Marijuana tax money targeted for Colorado’s full-day kindergarten rollout 

 

Up to $25 million is expected to help districts in rural areas, as well as others struggling financially. The money would help buy new desks and furniture, fixtures for bathrooms and classrooms, and other equipment schools need as they expand their full-day kindergarten offerings. 

The bill, HB-1055, won House approval 56-8 and now awaits action by the Senate.

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Also at the legislature . . . 

The Colorado House passed a bill to reduce drug possession penalties, moving the bill to the Senate. The bill would lower the penalty for Schedule I or II drug possession to a level 1 drug misdemeanor instead of a level 4 drug felony. Level 4 drug felonies are punishable by six to 12 months in prison.

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The bill allowing greater investment flexibility in marijuana businesses, HB-1090, cleared another hurdle Tuesday, when appropriations committee referred it unamended to the Senate. The Denver Business Journal gave a preview of what passage of the bill may mean to Colorado. 

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File under “People in glass houses”  

The Trump administration issued a memo saying immigrants working in legal marijuana industry lack “moral character” for citizenship. 

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Business News

Good news for those seeking investors

A poll found that 46% of U.S. adults would consider investing in the marijuana industry.
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Bank of America began covering marijuana stocks.

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Pinnacol Assurance released its first-ever public data analysis of safety in Colorado’s cannabis industry.

 “As a whole is relatively safe compared with other cultivation, retail and manufacturing jobs in Colorado.”

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Dave Martyn, president of the Compass Cannabis chain of Canadian dispensaries…

sat down with Peter Miller, CEO of cannabis branding and packaging company SLANG Worldwide. When discussing exactly what the future of the global cannabis industry will look like, both Miller and Martyn suggested companies look to the past. Industry models in recreational cannabis forerunners like Colorado, Washington and of course Canada, serve as examples of what works.
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Hometown reporter and cannabis industry hits national mainstream news as a legitimate beat

Former cannabis reporter Alicia Wallace from The Denver Post is headed to CNN for their new cannabusiness coverage. CNN states: “CNN Business launches a new content initiative focused on one of the most dynamic growth industries in America: the cannabusiness sector. The next generation of entrepreneurs, investors, and consumers are captivated by this storyline, and CNN Business is making a new commitment to cover every aspect of the cannabis industry, from innovation to regulation.”

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Car fatalities

Much has been written recently about the “connection” between cannabis legalization and fatal car crashes. But a new study has concluded that “there is no statistically [significant] relationship between marijuana legalization and fatal crashes” and that the “concerns of policy makers and the public that legalizing marijuana will worsen road safety are not entirely founded.”

In Colorado, the study’s author noted that the fatal car accident rate was considerably higher  compared to Georgia and Iowa in 2001, but that trend started happening prior to medical cannabis legalization and also leveled out by 2003.

No slack for social use in Denver 

The Denver City Council rejected a bill that would have loosened restrictions on marijuana social use businesses. 

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You know you’ve made the Big Time when . . . 

Jeopardy featured a question about the first legal recreational marijuana sale in the U.S.  And Alex Trebek actually said the words “Bubba Kush.” Awkward. 

The new Colorado U.S. Attorney weighs in

U.S. Attorney Jason Dunn says he agrees with rescinding the Cole Memo, but says “jury is still out” on enforcement around marijuana concentrates. He also said that he recognizes the relationship between states’ legal marijuana industries and the federal government isn’t sustainable, but declined to comment on legislation from U.S. Sen. Cory Gardner that would keep law enforcement from stepping in.

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It’s Official!

And in closing, The Onion officially endorsed legal marijuana.  The reasons are well, unique.  A sampling:

”Ending the prohibition on cannabis will send a clear message that we are a society on the verge of collapse, and hopefully inspire the citizens of this nation to make the final push over the edge.”

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Legislative Update

With less than four weeks left until the end of the Colorado legislative session, lawmakers are acting on several cannabis-related bills ranging from cannabis delivery to public investment to tasting rooms. One, a bill adding autism spectrum disorders as a medical cannabis-qualifying condition, was already signed by Colorado Gov. Jared Polis. 

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Chuck Smith, president of Colorado Leads, was quoted in The Denver Post about the need for public and private investment in the cannabis industry.

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Both the cannabis delivery and hospitality bills advanced in the House.

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The state’s current medical and recreational marijuana laws are set to sunset in September of this year, so lawmakers have been reviewing the laws and regulations. 

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And The Colorado Sun looked at the increasing political clout wielded by Colorado’s cannabis industry.

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