With the anticipation of federal marijuana legalization, the cannabis industry rang in 2021 with sky-high equity values and anticipated social justice reforms seemingly imminent. However, differing ideas regarding how to legalize marijuana has left federal legalization in limbo and, 20 months later, the sector is still plagued by a myriad of factors that have effectively limited opportunities to succeed in the newly legal cannabis market: onerous capital requirements which can only be financed privately, prohibitions on granting licenses to drug felons, and other hurdles. While both chambers of Congress have made strides by passing bills addressing these issues, such as the Secure and Fair Enforcement (SAFE) Banking Act, Cannabis Administration and Opportunity Act (CAOA), and the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act, all have failed to secure enough bipartisan support to break through the stalemate.Continue Reading Cannabis and Social Justice Reform: Are We Doing Enough?
Social Equity
Maybe This Time Will Be Different: Senate Unveils Legislation to Legalize Marijuana
On Thursday, July 21, 2022, Senators Chuck Schumer, Ron Wyden, and Cory Booker unveiled the long-awaited Cannabis Administration and Opportunity Act (CAOA), which, if passed, would decriminalize marijuana at the federal level and require various federal agencies to establish rules for regulating various aspects of the marijuana industry.
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Updates on New York’s Conditional Adult-Use Retail Dispensary Licenses
On July 14, 2022, the New York Cannabis Control Board (the Board) held a meeting to discuss the regulations and application for Conditional Adult-Use Retail Dispensary (CAURD) Licenses.
At the meeting, the Board approved the CAURD regulations. Despite receiving over 600 public comments on the draft CAURD regulations, the Board
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Takeaways from New York's Cannabis Control Board Meeting
On March 10, 2022, the New York State Cannabis Control Board (CCB) held a public meeting, during which board members advanced measures that lay the foundation for the New York Cannabis Seeding Opportunity Initiative. This Initiative makes adult-use cannabis sales possible before the end of 2022 and positions equity-entrepreneur-owned retail
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The Application Process for New York Cannabis Dispensary Licenses
On March 9, New York regulators announced that the first 100-200 adult-use cannabis retail licenses would be awarded to people with previous cannabis convictions and their families. Convictions must have occurred before March 31, 2021, the date when former governor Andrew Cuomo signed the Marijuana Regulation and Taxation Act (MRTA).
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