Maryland lawmakers introduced adult-use cannabis legislation that would give medical marijuana operators in the state an advantage while also aiming to create equitable opportunities in the industry.
According to The Washington Post, lawmakers are racing to hammer out adult-use regulations before July 1 in hopes of curbing illicit sales seen in the lead-up to adult-use sales in other states such as New York.
ADVERTISEMENT
Under the constitutional amendment that Maryland voters passed in November, adults can legally use and possess cannabis as of July 1.
Senate Bill 516, filed Friday, stipulates:
Medical cannabis licensees who were operational before October 2022 could convert to recreational licenses for a one-time fee of $100,000 to $2.5 million based on their 2022 gross revenue. A total of 75 cultivation licenses, 100 processor licenses, 300 dispensary licenses and 15 on-site consumption licenses would be allowed in the first phase of
Read full article on Marijuana Business Daily
