MOODY’S

Title: Legal marijuana offers small state tax revenue boost: Moody’s

Author: Reuters

Date: 8 May 2018

URL: https://www.reuters.com/article/us-usa-municipals-ratings-marijuana/legal-marijuana-offers-small-state-tax-revenue-boost-moodys-idUSKBN1I90W3

Extract: 

SAN FRANCISCO (Reuters) – Tax revenue from recreational marijuana makes up a small percentage of annual general fund revenues in states with the most established retail markets, such as Colorado, Washington and Oregon, Moody’s Investors Service said on Tuesday.

The boost in tax revenues is marginally credit positive in states with a nascent legalized weed industry, the rating agency said, including in larger states like California.

CANNABIS PRICING

Title: It’s Not Just Oregon: Wholesale Cannabis Prices Are Crashing Across the U.S. The national average price for a pound of cannabis was about $1,789 in 2016, but had fallen to $1,562 by the end of 2017.

Author: Willamette Week

Date: 7 May 2018

URL: http://www.wweek.com/news/business/2018/05/07/its-not-just-oregon-wholesale-cannabis-prices-are-crashing-across-the-u-s/?mc_cid=c31f4b0aa5&mc_eid=178dec0b63URL:

Extract: 

Cannabis prices are falling—and not just in Oregon.

The national average price for a pound of cannabis was about $1,789 in 2016, but had fallen by 13 percent to $1,562 by the end of 2017, according to the Cannabis Benchmarks U.S. Spot Index, which tracks marijuana prices.

Recent numbers suggest the average price is still falling. No one knows when the prices will bottom out.

In Oregon, the wholesale price of weed fell by as much as 40 percent since October, 2017, in part because of a bumper crop harvested last fall (“Too Much Weed”, WW, April 18, 2018).

The price has tumbled much lower here than the national average: Oregon’s wholesale sun-grown weed fell from $1,500 a pound last summer to as low as $700 by mid-October.

 

Title: Here’s How Much Marijuana Costs in the United States vs Canada

Author: Priceonomics

Date: May 2018

URL: https://priceonomics.com/heres-how-much-marijuana-costs-in-the-united/?mc_cid=6fb025c0ec&mc_eid=178dec0b63

Extract: 

With the emergence of legal weed in the US and Canada, we were curious, in which country is it more expensive? How does the price of marijuana vary across cities in the United States and Canada?

We analyzed data from Priceonomics customer Wikileaf, a company that tracks cannabis prices at dispensaries across the US and Canada and aggregated the data at the national level and find out the answers.

We discovered that cannabis is 30% less expensive in Canada than the United States. When you look at different cities, the price differential can be even more pronounced. Legal marijuana is 39% cheaper in Vancouver than San Francisco, for example.

We begin our analysis by looking at the average price of an eighth of an ounce of marijuana in the United States versus Canada at the beginning of April 2018. Throughout this piece, Canadian prices are converted to US dollars to make the price comparison consistent.

 

CONGRESS

Title: First Marijuana Reform Bill Clears Congressional Committee

Author: Marijuana Moment

Date: 8 May 2018

URL: https://www.marijuanamoment.net/first-marijuana-reform-bill-clears-congressional-committee/

Extract: 

Hundreds of marijuana reform bills have been filed in Congress in recent years, but none have ever been given a vote, until now.

In an historical first, a House committee approved cannabis law reform legislation on Tuesday. While legalization supporters have previously scored victories in the form of amendments attached to larger legislation, none of their standalone bills have ever advanced before.

Though the current proposal is fairly limited in scope — it would encourage the U.S. Department of Veterans Affairs to conduct research on marijuana’s medical benefits — it comes at a time of unprecedented bipartisan support for cannabis reform and likely signals more action to come on Capitol Hill.

“The tide is turning on cannabis, and today’s vote is the latest example,” Congressman Earl Blumenauer (D-OR) told Marijuana Moment. “We still have a long way to go, but we are one step closer to helping our veterans get the care they want and deserve. Now is our moment. Now is the time to redouble our efforts.”

MICHIGAN

Cannabis Legal Group Sues The City Of Troy Over New Marijuana Ordinance

 

NEW JERSEY

Title: Are hopes dimming for passing N.J. legal weed law this year?

Author: NJ.com

Date: 8 May 2018

URL: http://www.nj.com/marijuana/2018/05/hopes_dimming_for_passing_nj_legal_weed_law_this_year.html

Extract: 

The hurdle for legal marijuana in New Jersey seems to keep getting higher.

Gov. Phil Murphy has repeatedly vowed to legalize adult recreational pot use in the Garden State and told state lawmakers he’d like them to pass a bill by January 2019.

But just last week, the Democratic governor for the first time hedged over whether they could hit that deadline. And Democrats who lead the state Legislature are less certain this will get worked out during state budget negotiations in June — the traditional month for horse-trading in Trenton.

“It’s too early to tell” if they’ll have a bill passed by January, Murphy told reporters last week.

 

WISCONSIN

Title:  DOJ to issue updated memo about CBD oil extracted under hemp pilot program

Author: Channel 3000

Date:  9 May 2018

URL: https://www.channel3000.com/news/doj-to-issue-updated-memo-about-cbd-oil-extracted-under-hemp-pilot-program/740196421

Extract: 

MADISON, Wis. – Officials from the Wisconsin Department of Justice met Wednesday afternoon with lawmakers who authored the bill creating the state’s hemp pilot program and lobbyists from the Wisconsin Farm Bureau Federation to air their concerns about the extraction of cannabidiol, or CBD, under the state’s hemp-growing pilot program.

Sen. Patrick Testin, R-Stevens Point, said the DOJ would be issuing an updated analytical note authorizing Wisconsin farmers to extract CBD oil under the hemp-growing program.

“I think within the next day or so we’re going to have some clarity for those who want to participate in this program and give some assurance that they’re not going to be shut off from the state of Wisconsin,” Testin said.