This year’s legislative session isn’t expected to have as many cannabis bills – or the drama (well, maybe) – as last year. But five new bills ranging from prohibiting employers from firing employees for using marijuana during off-hours to reducing felonies for criminal marijuana possession have been introduced. And bills addressing diversity in cannabis-industry ownership and statewide expungement of former marijuana crimes are expected in the near future.
Highlights of proposed legislation are below. For more detailed info on all cannabis-related bills, go here.
- HB 1080. Removes the requirement that managers and employees of a medical marijuana business or a retail marijuana business with day-to-day operational control must be Colorado residents when they apply for licensure.
- HB 1089. Prohibits an employer from terminating an employee for conducting off-duty activities that are lawful in Colorado even if those activities are not lawful under federal law.
- More info here »
- SB 016. Adds providing alcohol and the sale, dispensing distribution or transfer of marijuana or marijuana concentrates by an employee to a student to the parent notification requirements by schools.
“High time” to legalize cannabis, says New Mexico Guv
During her State of the State, New Mexico Gov. Michelle Lujan Grisham told lawmakers that legalization of marijuana provides a lucrative economic opportunity for the state and is supported by a vast majority of state residents.
New Mexico only has a 30-day session, so lawmakers need to hustle if they want to be the 12th state in the country to legalize cannabis for adult use.
And yes, she really did say that.
Where is the federal banking bill?
U.S. Rep. Ed Perlmutter and three other congressmen who’ve been pushing to give cannabis businesses access to banking services sent a letter to the Senate Committee on Banking, Housing and Urban Affairs to address the chairman’s concerns about the Secure and Fair Enforcement (SAFE) Banking Act and urging him to take action.
The chairman, Mike Crapo of Idaho, recommended adding public health and safety requirements to the bill, including potency disclosures and a possible 2% THC limit on products before banks could do business with cannabis companies.
The representatives said they are hesitant to expand the scope of the bill, saying “we should exercise caution before adding limitations on the legislation’s safe harbor that impose unworkable burdens on financial institutions.”
Colorado Attorney General Phil Weiser and five other attorneys general also weighed in a separate letter to the U.S. Senate, stating “the SAFE Banking Act is a narrowly tailored solution that would provide immediate public safety benefits without supporting expansion of the existing cannabis industry.”
Read More »
What are the chances something happens this year?
Industry observers say it’s unlikely the Republican-controlled Senate will pass a major piece of marijuana reform this year, but they expect the momentum to continue.
More »
One example of why the cannabis industry needs banking
The number of break-ins at Denver marijuana businesses hit a three-year high in 2019, according to the Denver Police Department.
“We probably won’t see any relief in these kinds of robberies until these businesses aren’t forced to deal only in cash,” said John Goutell, general counsel for Frosted Leaf.
News
Land of Enchantment lawmakers not enchanted with cannabis
/in Legislation /by AdminA bill in New Mexico’s Legislature that would have legalized recreational marijuana was rejected by a committee in the Senate, effectively killing the bill this year. A majority of state residents back legalization, as does Gov. Michelle Lujan Grisham.
Federal banking bill update
/in Banking, Politics /by AdminIn a statement, Buck said the banking bill “jeopardizes public safety.” More »
Taking stock
/in Businesses, Economy, Investment /by AdminThe Motley Fool looks at four catalysts that could help make or break cannabis stocks this year.
Read More »
The first known case of a cannabis-associated, 12-hour erection
/in Health, Research, Science /by Admin“Clinicians in a recently published case study have concluded that cannabis was the likely culprit behind a 32-year-old man’s persistent, painful erections. It’s a rare and curious example of marijuana being associated with what’s known in medical jargon as priapism—an erection lasting more than four hours that’s not related to sexual activity.”
Read More »
Sales of adult-use cannabis in Colorado eclipsed $1.4 billion in 2019, a new record.
/in Businesses, Sales, Uncategorized /by AdminSo who are these new customers? The data suggests newbies are coming from Generation Z – those born in 1997 and later – and consumers who continue to transition out of the illicit market and into the regulated, legal industry.
View the Marijuana Business Daily Article and Graph »
And they’re off!
/in Banking, Businesses, Legislation, Uncategorized /by AdminThis year’s legislative session isn’t expected to have as many cannabis bills – or the drama (well, maybe) – as last year. But five new bills ranging from prohibiting employers from firing employees for using marijuana during off-hours to reducing felonies for criminal marijuana possession have been introduced. And bills addressing diversity in cannabis-industry ownership and statewide expungement of former marijuana crimes are expected in the near future.
Highlights of proposed legislation are below. For more detailed info on all cannabis-related bills, go here.
During her State of the State, New Mexico Gov. Michelle Lujan Grisham told lawmakers that legalization of marijuana provides a lucrative economic opportunity for the state and is supported by a vast majority of state residents.
New Mexico only has a 30-day session, so lawmakers need to hustle if they want to be the 12th state in the country to legalize cannabis for adult use.
And yes, she really did say that.
Where is the federal banking bill?
The chairman, Mike Crapo of Idaho, recommended adding public health and safety requirements to the bill, including potency disclosures and a possible 2% THC limit on products before banks could do business with cannabis companies.
The representatives said they are hesitant to expand the scope of the bill, saying “we should exercise caution before adding limitations on the legislation’s safe harbor that impose unworkable burdens on financial institutions.”
Colorado Attorney General Phil Weiser and five other attorneys general also weighed in a separate letter to the U.S. Senate, stating “the SAFE Banking Act is a narrowly tailored solution that would provide immediate public safety benefits without supporting expansion of the existing cannabis industry.”
Read More »
What are the chances something happens this year?
Industry observers say it’s unlikely the Republican-controlled Senate will pass a major piece of marijuana reform this year, but they expect the momentum to continue.
More »
One example of why the cannabis industry needs banking
The number of break-ins at Denver marijuana businesses hit a three-year high in 2019, according to the Denver Police Department.
“We probably won’t see any relief in these kinds of robberies until these businesses aren’t forced to deal only in cash,” said John Goutell, general counsel for Frosted Leaf.
Colorado cannabis: All grown up
/in Local, Research /by AdminColorado State University is launching a cannabinoid research center with a $1.5 million gift from an alumna who is the head of a CBD company.
The money will fund research, cover operating expenses and purchase equipment, and students and faculty will study the formulation of cannabinoids, separation efficiencies, and efficacy testing, among other things.
Read More »
You want to go where everybody knows your name
Bloomberg looks at the Colorado’s new law permitting cannabis lounges, how local governments may regulate them and how entrepreneurs grapple with making them profitable.
“This takes it out of back alleys and parks,” said state Rep. Jonathan Singer, chief sponsor of a law (H.B. 1230) that took effect Jan. 1. “Whether you are a novice, a tourist, or an established resident, you should have a public place where it’s safe to consume.”
More »
Related: Silverthorne opts out of cannabis hospitality and delivery.
More »
They like us. They really like us!
/in Events, News /by AdminColorado marijuana edibles will be in Oscar nominee gift bags this year. Well, kind of. Like everything in Hollywood, this is a bit smoke and mirrors. Since it’s still illegal to provide the public with edible samples, the nominees won’t receive the actual product, but will receive an IOU to cash in whenever they want.
Isn’t it ironic?
/in People, Politics /by AdminTrump Says Marijuana Makes People “Lose IQ Points”
Here it is »
What does the future hold?
/in Uncategorized /by AdminThe Green Solution, Colorado’s largest marijuana chain, was bought by multi-state operator Columbia Care for $140 million last week. It was the first Colorado acquisition of a publicly-traded MSO since the passage of House Bill 1090.
A week before the deal, Westword told readers to brace themselves for upcoming mergers and acquisitions. Read More »
After the deal, Westword wrote that Colorado cannabis companies were ready for “the challenges of big money.” Read More »