Some seven months after the New Hampshire Senate approved the formation of a study commission to explore various models for adult-use marijuana legalization, the bill passed the New Hampshire legislature Thursday and is now heading to Governor Chris Sununu.
What Happened: Last month, Sununu did a surprising u-turn on marijuana, confirming after years of opposition that he would be open to signing legislation that allows the sale of marijuana products in state-run retail outlets.
According to the governor, the legislation should contain provisions similar to those regulating the alcohol industry.
Initially, the bill was to create a commission consisting of representatives from the Senate, House, law enforcement, the cannabis industry, medical professionals, and community organizations, to study the new state store proposition for marijuana.
However, the legislation was amended last week adding a requirement for the commission to use its findings and draft a state-rung legalization measure that could be later considered in the second half of the two-year session in January, reported Marijuana Moment.
If Sununu signs the bill, the commission would have to provide a comprehensive report by December 2023.
Avoiding Veto Override, Making Better Protections
Sununu recently told CNBC that he has proposed his own model of cannabis regulation.
“I’ve never been a big believer in terms of legalizing recreational marijuana, but the legislature is there,” he said. “We’re surrounded by I think 1,000 miles by states who have done it. Not only would the bill pass to let it happen, it probably would pass with the ability to override my veto. Even though I might not like it, my responsibility is to set up a model that, long-term, is better than all the other states around us—that has the protections.”
“I'm not signing any bill. I'm only going to sign the bill that provides the protections I want to see," Sununu highlighted. “Because if you do it wrong, with all due respect to my fellow neighbors, you end up like Maine or Massachusetts or Vermont, who have really not done it well. They did it for the money. We're not doing it for the money. We're doing it because it's inevitable it's going to happen. So let's provide it with protection. There will be some revenue from it, but then you should never make illegal drugs for revenue that has ethical and moral problems wrapped all around it.”
Photo: Benzinga edit with images by Erin Stone from Pixabay and Wikimedia Commons
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
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.