After offering a sneak peek earlier this month, a group of bipartisan lawmakers in Wisconsin have now officially presented a proposal to decriminalize the possession of marijuana.
Under Assembly Bill 861, from Reps. Shae Sortwell, R-Two Rivers, Sylvia Ortiz-Velez, D-Milwaukee, Dave Considine (D) and Sen. Lena Taylor, D-Milwaukee, the possession of 14 grams of marijuana would be reduced from criminal charges to a fine of $100, reported Marijuana Moment.
The existing legislation stipulates that those found guilty of the offense may face a maximum fine of $1,000 and a prison term of up to six months.
According to the bill's authors, those caught in possession of small amounts of marijuana should not face serious penalties.
"It is time for Wisconsin to join the national discussion," the authors said earlier this month, emphasizing that North Dakota, New Hampshire, Hawaii, Louisiana, Mississippi, North Carolina and Nebraska have all embraced cannabis policy changes.
Nevertheless, the support for the policy change from the Republican-led legislature remains questionable, even though Wisconsin Assembly Speaker Robin Vos (R) announced in December that he would re-introduce a limited medical marijuana bill in January.
Interestingly, Vos is optimistic regarding medical cannabis policy change.
In an interview with Spectrum News 1 this week, Vos said that it's "taken us a while to find a consensus on the Assembly Republican side" to craft a passable medical cannabis bill and that he's confident the votes will be there, with or without the Democrats’ support.
Missed the first wave of cannabis investments? Don't make that mistake again.
Experts believe cannabis stocks have found their floor and are now poised for unprecedented growth.
Join Benzinga PotProfits. Our in-house canna stock expert, Michael Berger, is on a mission to uncover the most promising cannabis stocks poised for growth, even in a dull market. He leaves no bud unturned to bring you the juiciest potential double-digit opportunities!
Just this year, the PotProfits portfolio has seen smoking-hot gains like:
- 47.10% with $GTBIF
- 40.23% with $TCNNF
- 21.50% with $VFF
But here's the kicker: Michael is about to release his next potential winners, and he's chomping at the bit to share these ticker symbols with you ASAP.
Don't miss out on the green rush!
© 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.