CCMA Political greenBrief
Wednesday, December 5, 2018
Matthew Whitaker, President Donald Trump’s Pick For Acting Attorney General, Has So Far Been Silent About His Position On States’ Efforts To Legalize Cannabis
“I am gravely concerned that we are now going to go back and forth between who’s in the White House and what their drug enforcement policy is.”Matthew Whitaker, Acting Attorney General, Stated During A 2014 Debate
“Internal Revenue Code Section 280E continues to negatively impact the growth of the legal cannabis industry, the jobs that it has created, and state/local tax revenue that have come as a result.”Harborside Co-Founder Steve DeAngelo Explains That His Company Sought The Same Tax Treatment By The IRS That Every Other Industry Is Subjected To
Cannabis Company Faces Big Tax Bill After Losing Court Battle (CA – Cannabis Taxes)
Real Money (December 5, 2018) Last Friday, the U.S. Tax Court ruled against California-based cannabis dispensary company Harborside, which had hoped to end the 280E tax code stranglehold over the marijuana industry’s profit margins. The two and half year battle ended when the court upheld the tax code. Section 280E, which prevents state-legal marijuana companies from deducting otherwise ordinary business expenses from their total income, is one of the biggest obstacles cannabis entrepreneurs run up against.
EVIO Labs Berkeley Ready For California’s Phase 3 Cannabis Testing (CA – Testing Phase In)
Cannabis Business Times (December 3, 2018) EVIO Inc., a provider of cannabis testing and scientific research for the regulated cannabis industry in North America, has announced it now meets California’s Phase 3 cannabis compliance testing requirements. Starting Jan. 1, 2019, the Bureau of Cannabis Control requires additional testing for terpenoids, mycotoxins, heavy metals and water activity. The regulations set forth by the BCC requires licensed retailers to only sell cannabis goods that have met all state-mandated testing requirements.
Here’s What The 2018 Farm Bill Has To Do With CBD Legalization (USA – Hemp Legalization)
Fortune (December 4, 2018) A new farm bill appears to finally be on its way. On Thursday, Nov. 29, agriculture leaders from the United States House of Representatives and Senate announced that despite delays, they had finally reached an agreement in principle. As early as mid-December, CBD is expected to be removed from the U.S. Drug Enforcement Agency’s Schedule I list of controlled substances. That’s the same time at which the 2018 Farm Bill could be finalized and passed. Lifting the DEA’s restrictions on CBD could set off a new wave of investment in hemp production.
Legalization Of Hemp Could Be First Step For Federal Marijuana Protections (USA – Hemp Legalization)
U.S. News (December 4, 2018) Attention marijuana fans: Don’t light up that celebratory doobie just yet. But a long pot-hostile Congress appears headed toward acceptance of a substance more states are deeming legal for medicinal and even recreational purposes. Both hemp and marijuana are classified as controlled substances under the law. The farm bill, which is undergoing final negotiations to reconcile the House- and Senate-passed versions of the legislation, would classify hemp as an agricultural product and remove it from the list of controlled substances. Hemp can be grown now only for pre-approved “research” purposes and not as a commodity.
California Cannabis Regulator Clarity Spurs Entrepreneurs To Move Forward In North Coast (CA – Cannabusiness)
North Bay Business Journal (December 3, 2018) This fall, North Bay cannabis business leaders have been hard at work building and networking to develop a slew of creative proposals. Sonoma County, and Santa Rosa in particular, have emerged as a hub for the industry. The county’s central location, proximity to cannabis cultivators in Sonoma and Mendocino counties, and invitation to submit permit applications have attracted industry professionals from around the state.
How Will Acting Attorney General Influence Marijuana Legalization? (USA – Federal Legalization)
The Journal (December 4, 2018) When former Attorney General Jeff Sessions resigned Nov. 7 at the president’s request, speculation was reignited about the U.S. Department of Justice’s stance on states’ push to legalize medical and recreational marijuana. Matthew Whitaker, President Donald Trump’s pick for acting attorney general, has so far been silent about his position on states’ efforts to legalize the Schedule I controlled substance. While Whitaker hasn’t spoken at length about his views on marijuana, during a 2014 primary debate for the U.S. Senate nomination in Iowa, he said a state law that would legalized medical cannabidiol would positively affect families.
Cannabis In The Next Congress: Will Republicans Try To Steal The Spotlight? (USA – Cannabis Politics)
Forbes (December 4, 2018) In the weeks before the 2018 midterm elections, U.S. Rep. Earl Blumenauer (D-Ore.) outlined his plan to end the federal prohibition on marijuana if his party succeeded in regaining the majority. The issue has now become competitive between the parties regarding which one will win credit for strides forward. Boosters of the cannabis industry can thank the increasing pace of legalization in some form or other at the state level.
The Green Industry Goes White Collar (USA – Cannabusiness)
SFGate (December 5, 2018) With marijuana legalization spreading to Michigan, Utah and Missouri this fall, the cannabis industry is starting to become one of the nation’s top employers. All this means jobs. Lots of jobs. And these go far beyond the more entry-level positions of cannabis cultivator and budtender. Like any other money-making industry, marijuana is starting to attract college-educated professionals.
6 Historical Figures Who Attempted To Prevent Marijuana From Becoming Illegal (USA – Cannabis History)
Civilized (December 3, 2018) While today there are many people fighting to decriminalize and legalize marijuana, that wasn’t the case in the past. For many years there were very few people fighting efforts to make marijuana illegal. But there were some people who attempted to prevent the ridiculous marijuana laws we have today.
Is A Big Tobacco-Marijuana Marriage On The Horizon? (USA – Cannabis Industry)
The Motley Fool (December 5, 2018) The marijuana industry has had a pretty big year, and everyone has taken notice. Beverage companies are drunk on marijuana’s growth prospects. In August, the beverage industry announced two big-time deals with marijuana stocks. It began on Aug. 1, which is when Molson Coors Brewing Co. announced a 57.5%-to-42.5% joint venture with HEXO Corp. that will see the duo develop cannabis-infused beverages.
Can Cannabis Treat, Or Even Prevent Diabetes? (USA – Medicinal Cannabis)
Forbes (December 5, 2018) The legalization of recreational marijuana has dominated the news, recently, but medical marijuana research continues to advance apace. One of the most promising—and pressing—areas of research has to do with the effects of medical marijuana on people with diabetes. For the most part, research investigating the relationship between marijuana use and diabetes has shown promising results, but a lack of large-scale testing showing definitive correlations between diabetes treatment and marijuana still needs to be undertaken.
Rhode Island To Consider Cannabis Legalization This Term (RI – Legalization)
Ganjapreneur (December 5, 2018) Lawmakers in Rhode Island say they will look seriously at cannabis legalization in the coming term, due to reforms in surrounding states and the reelection of a governor who favors cannabis reforms. Rhode Island lawmakers return in January for the start of a new legislative session with a host of new representatives. Returning state Rep. Scott Slater, who has previously sponsored several failed cannabis legalization bills, says he is optimistic for 2019.