South Dakota Nearly Doubles Medical Marijuana Registration Fees, CT. Gov. Lamont Puts Social Equity Funds On Hold & More

Zinger Key Points
  • The price of the annual certificate for medical marijuana businesses in South Dakota increases to $9,000 from $5,310.
  • Alaska legislators closed the final day of this Senate session without passing a cannabis tax reform bill.
  • A pilot project in Massachusetts aims to make medical marijuana more accessible for senior citizens.

South Dakota: Medical Marijuana Registration Fees Nearly To Double  

Medical marijuana businesses in South Dakota will have to pay nearly double the current amount for their state registration certificates, writes Sioux Falls-based TV station KELO.

Starting no later than Sep. 30, the price of the annual certificate would amount to $9,000 from the current $5,310. The change comes under Senate Bill 43 which Governor Kristi Noem (R) signed in March, together with two other medical marijuana bills.

According to the outlet, the higher feed will affect 78 dispensaries, 21 manufacturing sites 40 cultivation sites and three testing facilities.

See Also: South Dakotans Will Vote On Legalizing Cannabis In November Election, Marking Third Attempt

Alaska: Cannabis Tax Reform Bill Stalls In Senate

Alaska legislators closed the final day of this Senate session without passing a cannabis tax reform bill. State senate president Sen. Gary Stevens, (R) said the Senate just didn't have time to hear the bill, writesAlaska's News Sources.

"We have not seen it in the Senate; we have not had a chance to really look at it and see what that bill would do," Stevens said.

If the measure had not been stalled, but rather approved and signed by Gov. Mike Dunleavy (R), it would have created the first statewide sales tax, changing the $50 per ounce marijuana tax to a 7% sales tax.

Trevor Haynes, a vice president of the Alaska Marijuana Industry Association and Good Cannabis co-founder and general manager was disappointed to hear that the bill was not approved.

"I don't necessarily think that we're in danger of going out of business but that downward trend is putting pressure on everyone — whether you're going out of business or now you're in just survival mode," Haynes said.

If the bill gets revived in the next session, Haynes says he’s hopeful it will be amended to propose a lower sales tax of 3%.

Connecticut: Gov. Lamont Puts Social Equity Funds On Hold

Connecticut governor Ned Lamont (R) halted the distribution of around $33.4 million of social equity funds derived from legal cannabis sales, reported public radio.

Lamont ordered the halt to address the concerns of the members of the state's legislative Black and Puerto Rican Caucus members and other stakeholders. The members expressed worries about the transparency of the Social Equity Council, which is in charge of the funds distribution.

"I'm not sure how the money is being deployed," Lamont said. "If it's making a real difference in people's lives in those zip codes that were such a priority, those hardest hit by the war on drugs," he said.

The governor also announced his support for a detailed review of the council, being conducted by State Comptroller Sean Scanlon.

See Also: Female Orgasmic Disorder Qualifies As Medical Marijuana Condition In Connecticut

Massachusetts: Pilot Project Aims To Make Medical Marijuana More Accessible To Seniors

The new pilot project, the Commonwealth Project aims to make medical marijuana more accessible for senior citizens, reported Fox News.

“People 65 and over are the fastest-growing segment using cannabis, but they’re using it for ailments of aging, [for] relief,” Howard Kessler, the group's founder told Fox News.

Kessler's initiative would enable medical marijuana access through payer-provider systems like Medicare Advantage.

Various studies conducted by Kessler's group and other researchers have shown promise in the medical marijuana benefits for the elderly.

See Also: Dr. Sanjay Gupta’s “Weed 7: A Senior Moment” Explores How Cannabis Can Decrease Seniors’ Reliance On Prescription Drugs

Under the state's medical marijuana law, patients with qualifying conditions can get a doctor's recommendation for medical cannabis, but not a formal prescription. Medicare Advantage can reimburse for products and services that are outside traditional medical care, according to former Massachusetts HHS secretary Marylou Sudders.

For some people, the cost is a deterrent,” Sudders told the outlet. “And so, if you really want equitable access, then insurance coverage at some point is the way to go.”

Mississippi: Two Cannabis Laws Taking Effect July 1st

Two cannabis laws that were approved in the most recent legislative session and signed into law by Governor Tate Reeves (R) will be enacted July 1, reported Super Talks.

Senate Bill 2857 would allow for easier access to medical marijuana by enabling patients to get a full month of medicine instead of the amount needed for seven days of therapy.

"This change will have a positive impact on patients who are mobility-impaired or who live quite some distance from a dispensary location," said Henry Crisler, Mississippi Medical Marijuana Association executive director. "It will also align medical cannabis with other medications that dispensed in 30-day supplies."

The second cannabis law which will roll out in a few weeks, Senate Bill 2888, makes oversight more rigorous to address the lack of testing parameters consistency, and would also expand research capacities.

See Also: Medical Marijuana Testing: Mississippi Revokes License Of Lab That Covered 70% Of State’s Supply, Raising Patient Access Concerns

Promotion of Benzinga's Cannabis Market Spotlight event in New Jersey.
Promotion of Benzinga’s Cannabis Market Spotlight event in New Jersey.

Join the Benzinga Cannabis Market Spotlight in New Jersey on June 17th! Grow your business, raise money and capitalize on the booming NJ recreational market. Don't miss this must-attend event in New Brunswick. Secure your tickets now. Very few spots are left. Use the code “JAVIER20” for 20% off.

Photo: Courtesy of Dad Grass via Pexels

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.