10 November 2016
First up we have to start with the self declared legal star of the Pacific NW’s cannabis industry, Hilary Bricken
She writes for Above the Law
As most of you know by now, among other states that legalized recreational marijuana or medical marijuana, two of the biggest marijuana victories came from Florida and California. Florida voters yesterday passed the “Use of Marijuana for Debilitating Medical Conditions” ballot measure commonly known as Amendment 2, and California voters passed the “Adult Use of Marijuana Act,” known as Proposition 64. As a Florida-licensed attorney, I want to first give a big congrats to my home state for finally saying yes to a comprehensive medical marijuana program that should (hopefully) expand the monopoly on MMJ currently held by the Charlotte’s Web nurseries and provide more and better access to a variety of medical cannabis for patients. And as a California-licensed attorney, I want to give another big congrats to California for resuming its position as a leader in our nation’s cannabis industry by finally legalizing marijuana for adults age 21 and up.
READ ON AT LINK ABOVE
Next MJ Biz
President Trump: Election surprise creates huge uncertainties for cannabis industry
By Marijuana Business Daily staff
Donald Trump’s upset election victory is causing consternation in the marijuana industry even though seven states legalized medical or recreational cannabis and another paved the way for MMJ businesses.
Executives are uncertain of what a Trump presidency means in terms of federal regulations and enforcement, with some fearing an eventual crackdown.
Still, other industry officials and experts suggested the state-level victories could ultimately lead to some positive marijuana-related steps at the federal level, including reform of banking laws and Section 280E of the federal tax code.
They also suggested a Trump administration would generally lay off the industry, although a Republican-dominated government could reduce the odds it would legalize cannabis anytime soon.
“As far as we’re concerned, if the federal policy is the status quo, then the states will continue moving forward and we will see successes in the future, as well as being able to implement the laws that were passed yesterday,” said Marijuana Policy Project chief Rob Kampia.
Vivien Azer, a senior research analyst for Cowen Group, a New York investment bank, predicted to Bloomberg News that marijuana will be low on the list of priorities of a President Trump – although there could be a greater emphasis on enforcement.
READ ON AT LINK ABOVE
Law firm Seyfarth Shaw write via their blog, The Blunt Truth about California’s passing of Prop 64
Golden State voters trail-blazed the way for the legalized use and sale of marijuana on November 8, 2016. The California Marijuana Legalization Initiative, known as Proposition 64, was welcomed with open arms (and maybe a little cotton mouth) by the nation’s largest economy with a vote of 56% in favor of the law.
But don’t leave your sofa for the convenience store or snack aisle just yet. Recreational use of the Green Dragon in the Golden State remains quite limited, and its sale substantially regulated. Only adults of 21 years and older may possess, transport, consume, or share up to one ounce of marijuana. Marijuana concentrates, such as waxes, oils, and other cannabis-extracted products, are controlled to an even greater extent–with eight grams as the maximum. Individuals can grow up to six plants in their home for personal consumption. Public use remains prohibited under California law, as does driving while impaired. Violating the law will result in fines and required drug education or counseling. Possession and use of marijuana is still illicit under federal law, although enforcement by the Drug Enforcement Administration has been lax in recent years. That may change with President Trump taking the Oval Office in 2017.
The law potentially creates the largest market for marijuana products in the U.S. California is already known for its fine wine and craft beers–expectations are quite high for bud to do just as well. A state license is required to join in the fun, so not just any pothead can set up shop. And, it may be a challenge for green entrepreneurs to obtain commercial space, as well as financial lending, given the federal government’s ban.
Marijuana sold for recreational use in California will be subject to a 15% excise tax, resulting in an estimated $1 billion in annual revenue to California according to the independent Legislative Analyst’s Office. A substantial portion of these funds are allocated under Prop 64 to subsidize youth substance abuse prevention and education, support state and local law enforcement, and provide needed economic assistance to low-income communities. The California Departments of Consumer Affairs, Public Health, and Food & Agriculture will oversee the regulation of recreational marijuana sales, testing and manufacturing, and cultivation, respectively.
California joins Colorado, Washington, Alaska, Oregon, the District of Columbia, and now Nevada and Massachusetts in becoming a test tube to determine the proper breadth of marijuana’s use. Time will tell whether California’s different demographic makeup and larger population will play into determining whether the experiment is successful or not. But until the voters determine otherwise, that time appears to be 4:20.
Prop 64’s passage may require certain employers to make changes to their employee handbooks and written policies. In our experience addressing inquiries about Prop 64 and other states’ marijuana laws, we have seen some handbooks that were drafted broadly enough to account for this type of change. Other handbooks have required significant revisions. Addressing workers who appear under the influence at work may also be an issue for employers. For better or worse, these are individualized inquiries that are not typically susceptible to a boilerplate solution. All in all, time will tell if the grass is truly greener now with recreational marijuana on the books in California.
Cannabis Business Executive report
What’s Next as the Push to End Federal Prohibition Picks Up Steam?
The result of the historic U.S. Presidential Election was nearly matched by pro-cannabis votes that passed in eight of the nine states with ballot initiatives. As a result, CBE has been looking forward to identifying what to expect next after the election. We wanted to share some thoughts about the ramifications of the successful medical marijuana votes in Arkansas, Florida, Montana and North Dakota and the recreational victories in California, Nevada, Massachusetts, and Maine. Remarkably, nearly 60% of the US population will have legal access to Medical and 19% to Adult Use/Recreational Marijuana as a result, upon the rolling out of rules and licenses.
We all have come to the conclusion that it’s not a matter of “if” any longer, but definitely a “when” question regarding the end of cannabis prohibition. The successful addition of the states mentioned above have further solidified this notion, but now face the challenges that Colorado Governor so succinctly stated last Sunday on 60 Minutes. The states will have to regulate, enforce and continually update their oversight to make sure that quality standards, compliance and consumer protection are all enforced vigorously by the industry itself and governing parties.
FULL ARTICLE AT LINK ABOVE
Marijuana Stocks report
What Will Happen To Legal Marijuana Now That Trump Is In Office
Marijuana is being talked about a lot in these past few days. This is because nine states voted about legalizing either medical or recreational marijuana in this election. With these new amendments being passed, a lot is going to change for better or for worse with the medical marijuana industry.
However, what people are really wondering is how Trump and his presidency are going to affect the future of marijuana. According to Trump, he is “100% in favor of medical marijuana”. Trump proposed that he would reschedule marijuana from its current illegal status as a Schedule 1 substance to possibly a Schedule 2 or lower, if he won the election. Schedule 1 substances are considered federally illegal and supposed to have no medical benefits, whereas Schedule 2 substances and lower are considered to have medical benefits but also are perceived to have addictive qualities. Now that he has the power to affect change, the industry may see some changes.
FULL ARTICLE AT LINK ABOVE
And last but not least The Cannabist
Election 2016 proved momentous for the marijuana industry.
Nine states decided whether to legalize the medical use of marijuana or allow recreational use for adults, and voters in at least seven of them — notably California — supported those moves. Success of the ballot measures were projected to vault cannabis to a $21 billion industry by 2020, according to market research firm New Frontier Data and Arcview Market Research, marking a slight increase from its pre-election estimate.
But Tuesday’s big victory for marijuana legalization proponents was tinged with uncertainty. The 29 states with medical marijuana laws and those that now have recreational use regulations would be growing their markets under Republican President-Elect Donald J. Trump.
Marijuana legalization & Election 2016 results
Both Trump and Democratic nominee Hillary R. Clinton had said they favored states’ rights and indicated they would not dismantle existing marijuana regulations; however, some of Trump’s past statements and his political allies have not been as supportive of the issue, policy experts have noted.
On Wednesday, marijuana legalization proponents remained cautiously optimistic that their industry would remain intact.
FULL ARTICLE AT LINK ABOVE