CCMA Political greenBrief
Thursday, January 17, 2019
Rep. Matt Gaetz (R-FL) Introduced The Medical Cannabis Research Act Which Would Require The Justice Department To Approve Medical Cannabis Research & Force The Attorney General To Begin Issuing New Licenses On A Set Timetable
“These approved regulations are the culmination of more than two years of hard work by California’s cannabis licensing authorities. Public feedback was invaluable in helping us develop clear regulations for cannabis businesses and ensuring public safety.”Bureau Of Cannabis Control Chief Lori Ajax On The Newest CA Cannabis Regulations That Have Ben Approved By The Office Of Administrative Law
“This bipartisan legislation will make a tremendous difference to researchers nationwide, who may finally be able to develop cures for illnesses that affect many of America’s most vulnerable populations. I fully believe that this bill has a chance to pass this Congress and be signed into law by the President, who expressed his support for medical cannabis during his campaign.”Rep. Matt Gaetz (R-FL) On Introducing The Medical Cannabis Research Act
EVENT: Malibu Fire Fundraiser On February 15th (Los Angeles – Cannabis Events)
On Friday February 15th, help the CCMA and Future Cannabis Project bring the cannabis community together for a fundraiser to benefit victims of the Woolsey Fire in Malibu. The evening kicks off with a four course dinner by cannabis Chef Holden Jagger followed by a party with music and DJs in a beautiful venue in downtown Los Angeles. Tax deductible proceeds will go directly to the Malibu Foundation, a non-profit working to assist in recovery for victims of the Woolsey Fire.
New California Cannabis Regulations Approved By The Office Of Administrative Law (CA – State Regulations)
Cannabis Business Times (January 17, 2019) California’s three state cannabis licensing authorities today announced that the Office of Administrative Law (OAL) has officially approved state regulations for cannabis businesses across the supply chain from cultivation to retail. These new regulations take effect immediately. The previous emergency regulations, adopted by the Bureau of Cannabis Control, California Department of Public Health and California Department of Food and Agriculture in December 2017 and readopted in June 2018, were originally issued through the emergency rulemaking process to meet the legislative mandate to open California’s regulated cannabis market on January 1, 2018. With today’s action, these emergency regulations are no longer in effect.
Producers Are Meeting California’s New, Tougher Rules For Cannabis Safety (CA – State Regulations)
Pasadena Star News (January 16, 2019) Tougher requirements for marijuana purity that kicked in this year in California aren’t triggering the high failure rates that emptied shelves at cannabis shops last summer, when the state began phasing in mandated testing. There’s still concern about what will happen once marijuana shops sell off products grandfathered in before the latest testing rules took effect. But with tests showing that California cannabis is now cleaner than most fruits and vegetables, experts are encouraged.
California Adopts New Track-And-Trace System Under Emergency Regulation (CA – State Regulations)
Pot Network (January 16, 2019) The California Department of Tax and Fee Administration adopted the emergency Regulation 3702 earlier this month, officially implementing the California Track-and-Trace program. The CCTT system, also known as a “seed-to-sale” tracking program, requires distributors and retailers to enter the whole cost and retail selling price of cannabis products into the CCTT system. The track-and-trace software is meant to provide business tools for cannabis entrepreneurs, and a means for state governments to keep an eye on licensed cannabis inventory.
Cannabis Deliveries OK’d In California: ‘The Public Spoke Loud And Clear’ (CA – Delivery Services)
USA Today (January 16, 2019) California endorsed a rule Wednesday that will allow home marijuana deliveries statewide, even into communities that have banned commercial pot sales. The regulation by the state Bureau of Cannabis Control was opposed by police chiefs and other critics who predict it will create an unruly market of largely hidden pot transactions, while undercutting control by cities and counties.
State-Run Marijuana Bank Option Falters In California (CA – Cannabis Banking)
Manatt (January 16, 2019) A new study has cast a shadow on plans for a state-owned bank to service the cannabis industry in California. As California cannabis businesses struggle to obtain even basic banking services, the state has considered various approaches to remedy the problem. Significantly, the proposed bank would need just under $1 billion in capital and would lose money for 12 years before it could provide a return on invested capital, according to the study, with the state receiving its first dividends sometime between 2050 and 2055. The bank could also experience significant losses as a result of increased competition from other financial institutions if federal law changes and cannabis becomes legal.
Police Chief Against Marijuana Deliveries Within Manteca (CA – Delivery Services)
Manteca Bulletin (January 17, 2019) A decision by the Sacramento bureaucracy regulating cannabis to allow delivery of marijuana throughout California even in cities that have banned both the sale and transportation of it within their boundaries as had been allowed under state law has Manteca Police Chief Jodie Estarziau concerned. The ruling Wednesday by the California Bureau of Cannabis Control is widely expected to be challenged and end up in court or taken up by the legislature again before it goes into effect.
Trump Treasury Official Wants Congress To Fix Marijuana Businesses’ Banking Issues (USA – Cannabis Banking)
Marijuana Moment (January 16, 2019) Congress needs to come up with a solution for banking access by the marijuana industry, a top federal Treasury Department official said on Wednesday. And he hopes that will happen by 2020, if not sooner. Joseph Otting, the comptroller of the currency, told reporters that lawmakers “have to act at the national level to legalize marijuana if they want those entities involved in that business to utilize the U.S. banking system,” according to PoliticoPro. That said, a steadily growing number of banks are operating accounts for cannabis companies anyway, federal data shows.
GOP Congressman Refiles Marijuana Research Bill With Important Changes (USA – Cannabis Politics)
Marijuana Moment (January 16, 2019) A bipartisan bill designed to stimulate research into marijuana was reintroduced on Wednesday—with changes that could significantly increase its chances of passage in the 116th Congress. The Medical Cannabis Research Act, sponsored by Rep. Matt Gaetz (R-FL), wouldn’t change the federal legal status of cannabis, but it would require the Justice Department to approve additional manufacturers of research-grade marijuana, protect research institutions interested in conducting studies on cannabis and authorize the U.S. Department of Veterans Affairs to inform patients about federally approved cannabis studies that they can participate in.
Multistate Operators Respond To Changing Cannabis Market (USA – Cannabis Industry)
Yahoo! Finance (January 16, 2019) In the cannabis industry, being a multistate operator can mean big profits and broad brand awareness, but brings unique challenges due to the complex regulatory framework that surrounds the burgeoning legal marijuana markets across the U.S. At Wednesday’s Cannabis Capital Conference, three executives from some of the biggest companies in the space offered their perspectives on the ever-changing landscape and what’s ahead in 2019 for this booming business.
‘The Rest Of The World Is Moving Very Quickly’: Cannabis Execs Tackle Global Market Opportunity (USA – Cannabis Industry)
Benzinga (January 17, 2019) A panel of marijuana executives took a global look at the legal cannabis market Wednesday during the Benzinga Cannabis Capital Conference in Miami Beach. Moderator Jesse Pytlak of Cormark Securities asked how the Farm Bill that federally legalized hemp could help springboard interest in the U.S. market. The consensus of the panel was that the regulatory change represents the first window of opportunity for foreign companies to get a foothold in the U.S. — and they’re interested to see how American companies will take advantage of the opportunity.
Where Does Your Governor Stand On Marijuana Legalization? (USA – Cannabis Policy)
The Hill (January 16, 2019) To kick off the 2019 state legislative season, we released out 2019 Gubernatorial Scorecard. This extensive database assigns a letter grade “A” through “F” to states’ governors based upon their comments and voting records specific to matters of marijuana policy. As a result, there is expected to be unprecedented levels of legislative activity at the state level in 2019 and in 2020 surrounding the need to regulate the commercial cannabis market.