Vending Machines Provide Free Narcan At CA University, Steep Fees For NY Marijuana Operators & More Cannabis Regs

Narcan Vending Machine At California University

Santa Clara University (SCU) is installing a free on-campus vending machine that dispenses canisters of the FDA-approved Narcan, a life-saving medicine that can reverse an opioid overdose when administered quickly, reported The Mercury News.

According to Setareh Tehrani, who helped launch the project, Stanford University will soon follow suit and install a machine.

A student, Isabella Bunkers, said their goal is to "get naloxone out into the community because the more naloxone that people have in their hands, the more chances there are to save a life."

The latest push to address the opioid epidemic that continues to take its toll nationwide follows a recent push from Minnesota lawmakers to allow schools access to naloxone. Under the new proposal, each school must keep two doses of Narcan spray in stock.

Vote On Marijuana Banking Bill In Near Future Sen. Schumer Says

The Senate Banking Committee held a hearing on Thursday to discuss the Secure and Fair Enforcement (SAFE) Banking Act. A committee vote is expected soon, Senate Majority Leader Chuck Schumer (D-NY) said on Thursday. Schumer called the hearing a "big step" for cannabis banking. The legislation was refiled in April by Senators Jeff Merkley (D) and Steve Daines (R), along with Reps. David Joyce (R) and Earl Blumenauer (D).

"We've made a lot of good, bipartisan progress on SAFE Banking last Congress, and after today's hearing, we hope there will be a markup on this bill in the near future," Schumer said. "We're really moving forward in a record way on a very important issue."

Steep Fees For New York Operators Under Newly Proposed Cannabis Rules

New York cannabis regulators issued revised marijuana industry rules last week, allowing registered organizations to enter the recreational market starting December 29, 2023, while imposing steep fees for those wishing to remain in the market.

Under the new rules, medical operators would be obliged to pay $5 million at the time of licensure, $5 million within six months of opening the second store and another $5 million when they achieve $100 million in revenue and an additional $5 million when they hit the $200 million revenue milestone, reported Green Market Report.

The New York Medical Cannabis Association (NYMCIA) raised concerns regarding the exorbitant fees.

"We believe that the proposed $20 million licensing fee for each medical cannabis provider to enter the adult-use market is illegal and subject to legal challenge," the organization said. "It was clearly designed to eliminate vertical integration for medical and adult-use products and is simply not economical."

Minnesota Conference Committee Negotiates Marijuana Legalization

Minnesota House and Senate lawmakers convened on Friday for the first time to negotiate recreational marijuana legalization, which both chambers addressed by passing their own versions of the bill, reported CBS News.

Rep. Zack Stephenson, DFL-Coon Rapids, who is behind a House version of the bill, said lawmakers would find a joint solution in the next week.

To that end, Minnesota legislative conference committee held its second meeting on Monday, aligning most of the remaining differences regarding cannabis licensing, expungements and criminal penalties, reported Marijuana Moment. The lawmakers still need to address tax and appropriations-related issues.

Photo: Beniznga edit of photo by Shutterstock

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis is evolving – don’t get left behind!

Curious about what’s next for the industry and how to leverage California’s unique market?

Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!

Get your tickets now to secure your spot and avoid last-minute price hikes.