Zinger Key Points
- Wisconsin lawmakers have presented a proposal to decriminalize the possession of marijuana.
- Under Assembly Bill 861, possession of 14 grams of marijuana would be reduced from criminal charges to a fine of $100.
- Today's manic market swings are creating the perfect setup for Matt’s next volatility trade. Get his next trade alert for free, right here.
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.
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