Illinois Rakes In Half-Billion Bucks In Marijuana Taxes, Cannabis Ads, Sales Regs And More

Rhode Island Lawmakers Greenlights Cannabis Advertising

  • Rhode Island House members are poised to weigh in on a measure that seeks to let existing state regulators handle cannabis advertising rules after one of the chamber’s committees passed it on Tuesday, reported WJAR.

  • Gov. Daniel McKee was assigned to nominate members to the cannabis commission. However, the governor’s office said extensive background checks on potential members are still in progress.

Bipartisan Group Of Minnesota Lawmakers To Come Up With Final Marijuana Legalization Bill

  • A group of ten bipartisan Minnesota lawmakers is set to work on aligning companion marijuana legalization measures from Sen. Lindsey Port and Rep. Zack Stephenson that were passed by both chambers last week, reported Marijuana Moment.

  • Both bills would allow Minnesotans 21 and older to buy up to two ounces of cannabis flower, eight grams of concentrate and 800 milligrams of edible products at one time.

  • However, before sending the proposal to Gov. Tim Walz’s desk, the reworked legislation would have to get final approval from both House and Senate members. The governor has pledged to sign the bill when it reaches his desk.

Montana Gov. Gianforte Kills Rec Marijuana Tax Bill

  • Senate Bill 442, which sought to regulate how $50 million of recreational marijuana taxes would have been distributed in Montana, was vetoed by Gov. Greg Gianforte, reported Independent Record.

  • The measure from Sen. Mike Lang, R-Malta passed the Legislature on Monday and would have addressed both the state’s wildlife and the people who call Montana home “from our strongest to our weakest,” said the bill’s sponsor.

Latest Marijuana Legalization Efforts In Colorado

  • Colorado Senate members advanced cannabis sales bill from Reps. William Lindstedt (D), Said Sharbini (D) and Robert Rodriguez (D) on Monday, sending it to the Gov. Jared Polis’ desk, reported Marijuana Moment.

  • The legislation seeks to allow online cannabis sales and prohibits regulators from denying or revoking professional certifications, registrations, or licenses to those with prior cannabis-related criminal violations.

  • Meanwhile, to raise awareness and combat cannabis-impaired driving, members of the cannabis industry in the Centennial State met with officials from the state’s transportation agency on Wednesday to talk about ways budtenders can work on preventing people from driving while high, reported Axios.

A Cool Half-Billion In Marijuana Taxes 2022

  • Crain’s Chicago’s John Pletz reported recently that Illinois has garnered more tax revenue from marijuana than any other state, except California, with $562 million collected in 2022.

  • Meanwhile, despite lower tax rates and cannabis prices, Michigan collected $326 million in the same period.

  • Beau Whitney, the founder of Whitney Economics, a research and analytics firm in Portland, Oregon, estimated that 75% of Michigan marijuana users shifted to the legal market as of last year, while in Illinois, 48% of users opted for the same.

  • “Illinois has greater upside,” Whitney commented on the marijuana industry. “In Michigan, their growth rates will slow and eventually level off. In three to five years, it will be dependent on population growth.

Photo: Courtesy of Kindel Media by Pexels

Source link