Dem-Backed Push Clears Path For Weed Sales In Virginia, Now It's Up To Gov. Youngkin Who Shows No Interest

Zinger Key Points
  • Members of a Virginia Senate panel green-lighted a “compromise” bill to launch recreational cannabis sales in the state.
  • Despite Tuesday's important compromise, GOP Gov Youngkin says 'this is an area that I really don’t have any interest in.'

Members of the Virginia Senate panel gave the green light to a "compromise" version of a bill to legalize and regulate retail recreational cannabis sales on Tuesday.

The Senate Finance and Appropriation Committee approved the most recent and amended version of HB 698 from Del. Paul Krizek (D) in a 10-5 vote. The measure first advanced through the Senate Rehabilitation and Social Services Committee last week.

The Tuesday move comes on the heels of House committee members passing a competing measure, SB 448 from Sen. Aaron R. Rouse (D), on Thursday in a 12-10 vote.

While two Democratic-led marijuana bills advance through the legislature, paving their way to Governor Glenn Youngkin's desk, it seems he's not interested in the matter.

"I've said before, this is an area that I really don't have any interest in," Youngkin told reporters earlier this year when asked about his support for opening od a retail market for recreational sales. "What I want us to work on are areas that we can find a meeting of the mind and press forward for the betterment of Virginia."

Before the Senate vote this past Friday, the regulatory body implemented substitute language to address discrepancies between Krizek's bill and a measure from Sen. Rouse that was also amended in the same manner the day earlier in the House.

"Ultimately, there's peace in the valley on this," Rouse said. "What I'm most proud of is the way that we've been transparent along the way and getting this bill in the place where we can get broad support."

Krizek took the same stance.

"This is like an early conference report to give both bodies ample opportunity to review and vote on the consequential, necessary piece of legislation," he said on Friday to the Senate panel.

See also: Who’s Leading, What’s Happening & When It Starts: Analyst Unpacks Virginia’s Cannabis Market

The two lawmakers behind competing bills that will set up marijuana sales in Virginia previously came to an agreement that all retailers could be allowed to get into the cannabis business by March 1, 2025. However, the latest version of SB 448 has pushed the sales launch date to no earlier than May 1, 2025.

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

Get your tickets now on bzcannabis.com – Prices will increase very soon!

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.