MN Cannabis Legalization, MMJ In TN And SC, Hemp In NE, VT Pot Tax Revenue And More

Minnesota Cannabis Legalization Moves Forward In House And Senate

Minnesota's House Health Finance and Policy Committee recently approved a bill to legalize marijuana in the state.

“Minnesota’s current laws are doing more harm than good,” said the bill's sponsor Rep. Zack Stephenson (D). “Minnesotans deserve the freedom and respect to make their own decisions about cannabis.”

Meanwhile, the Senate Health and Human Services Committee "took up a companion measure that’s being sponsored by Sen. Lindsey Port (D)," reported Marijuana Moment. "Prohibition of cannabis is a failed system that has not achieved the desired goals and has had incredible costs for our communities, especially for communities of color.” 

A Medical Cannabis Bill In Tennessee Senate Committee

Tennessee Sen. Janice Bowling (R-Tullahoma), who sponsored the Tennessee Medical Cannabis Act, is hoping 2023 will be the year that medicinal marijuana becomes legal in the state, reported a local news media outlet.

The measure, which went to a Senate committee seems to be supported by Democrat and Republican lawmakers and seeks to establish a medical cannabis program in the state.

If legislation is enacted would "add millions to the state general fund and to agencies’ budgets, would put the state in a good position if cannabis becomes legal nationwide, and would help some of our state’s most vulnerable," Bowling said.

Nebraska Lawmakers On Hemp Bills

On Tuesday, a pair of bills were discussed at a Nebraska Committee hearing seeking to reshape state hemp regulation, reported Marijuana Moment.

Legislative Bill 263, introduced by the Agriculture Committee at the request of the Nebraska Department of Agriculture) would amend the Nebraska Hemp Farming Act to align with the federal 2018 Farm Bill.

Legislative Bill 336, proposed by State Sen. Steve Halloran of Hastings, chair of the agriculture committee, would eliminate the Nebraska Hemp Commission and instead create the Nebraska Hemp Advisory Board, which would be housed in the Nebraska Department of Agriculture.

MMJ Legalization Bill Moves Forward Through SC Senate Committee

South Carolina Senate Medical Affairs Committee approved a bill to legalize medical cannabis in the state.

The S.C. Compassionate Care Act, introduced by Sen. Tom Davis (R) would allow patients to access marijuana from licensed dispensaries if they receive a doctor’s recommendation for the treatment of qualifying conditions, reported Marijuana Moment.

“(...) the Compassionate Care Act was polled out of the Medical Affairs Committee and put on the SC Senate’s calendar for consideration. This bill would empower physicians by allowing them to authorize the medicinal use of cannabis by patients. 37 states already allow this,” tweeted Davis on Tuesday.

Weed Tax Revenue In Vermont

Tax revenue from Vermont's retail marijuana market is growing at a steady pace in the state, reported a local news media outlet.

The latest released tax revenue from the state’s 14% excise tax on marijuana shows the industry is moving forward. “The demand is definitely there," said Miriam Wood, a retail cannabis store owner. However, Wood said she would like to see the price of weed come down a little. "It is a little bit more expensive than the black market.” 

Recreational cannabis shops opened for business on October 1, 2022. "During the first month of retail sales, Vermont collected about $329,000 in cannabis excise taxes. In November, as more stores opened, an additional $523,000 were collected. And in December, the state saw nearly $800,000 in new revenue from the cannabis tax for a total of $1.6 million to date," per WCAX 3.

The Benzinga Cannabis Capital Conference Is Back!

The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A start, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.

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