How the Marijuana Revenue and Regulation Act Could Move the Cannabis Industry Forward A flurry of legislative activities in Q1 of 2017 ended with a coordinated, bi-partisan effort to effectively end federal prohibition of cannabis. The Marijuana Revenue and Regulation Act (MRRA) includes powerful provisions that would turn the tide for the cannabis industry. In..
The work to end marijuana prohibition has been steady this year. With 12 bills already introduced this early in the year, legislators are making good on Attorney General Sessions’ call for congress to change the marijuana laws. Here’s a short list of cannabis bills introduced in 2017: HR 1841: To provide for the regulation of marijuana..
In our last post, we mentioned the Congressional Cannabis Caucus (CCC). To better understand the significance of this group to the marijuana industry, we’ll explain its mission and the various cannabis arguments being presented. The objective is to change federal laws to decriminalize and enable cannabusinesses to financially transact business and operate legally on all..
Marijuana legislation introduced back in 2015 could be the breakthrough centerpiece states need to fully decriminalize marijuana. The Curious Case of H.R. 1013 H.R. 1013, introduced February 20, 2015, would put marijuana in the same classification as alcohol, and subject to the same regulations. It had 11 original co-sponsors. That number has grown to 19..
Since the kickoff of 2017, the cannabis industry continues to make big strides forward as states reviewed budget gaps. Despite hints from the current administration about federal crackdowns, more states continue to push for legalized marijuana laws on their books. With over 50% of the states legalized, and several more considering bills, the federal government..
As the majority of states (28) have legalized cannabis, we anticipate a few more to join the ranks this year. In fact, here are summary reviews of five states we’re watching closely. Delaware While Delaware took active steps towards legalization, decriminalizing it in 2015, there are still inroads to be made for cannabusinesses. Senator Margaret..
Legislators are looking to collect more than $730 million in marijuana tax revenue over the next two budget years. That’s not enough to cover the additional $74 million needed to address the state’s school funding deficit. However, clarification from the federal government could open the cannabis banking floodgates and relieve the funding gap. Lawmakers, along..
A whopping 44% of Oregon residents polled said banks who support the cannabis industry would be seen favorably according to a recent poll conducted by DHM Research. Voters may have legalized marijuana in several states. The next step is to move the federal government forward to allow legalized marijuana businesses access to federal banks, too…
Banking is the linchpin to fully opening up revenues earned by the cannabis industry. States that have legalized marijuana are urging the federal government to update banking guidelines that stand in the way of receiving millions in tax revenues. The marijuana industry has been a financial windfall for every state that has legalized cannabis, but..
Our government has officially been funded through April 2017. Our US Senate passed legislation on the very day that current funding was to expire, just in time to save many government services from closing at midnight. President Barack Obama promptly signed it into law, with the White House’s statement quickly following. Why do we care?..