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Cannabis & Psychedelics Regulatory Update: New Legalization Efforts in SD, MO, NH & MD

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South Dakota GOP Governor Signs Bill Preserving Patients’ Home Cannabis Cultivation Rights

On Friday, South Dakota Gov. Kristi Noem (R) signed legislation SB 24 into law, allowing registered patients to cultivate a total of four marijuana plants, NORML reported.

Under the bill, the cultivation of two mature and two immature marijuana plants is legal, as well as the possession of the harvest from those plants.

“Permitting limited home cultivation provides patients with the ability to have reliable, affordable, and consistent access to their medicine,” said NORML’s deputy director Paul Armentano. “Seventy percent of voters approved this right at the ballot box, and it is reassuring to see that a majority of lawmakers, and the Governor, ultimately decided to respect the voters’ decision.”

In November 2020, voters approved a ballot Measure 26, which was poised to allow possession, cultivation and purchase of medical cannabis. However, Gov. Noem opposed it.

Earlier this month, South Dakota House killed a bill to legalize cannabis that had been temporarily revived after a committee defeat earlier this week.

GOP-Led Bill To Decriminalize Psychedelics For Therapeutic Use Gets Hearing At Missouri House Committee

A GOP-led bill to legalize the use of psychedelics for therapeutic use at designated care facilities and decriminalize low-level possession has got a hearing at a Missouri House committee on Monday, reported Marijuana Moment.

The panel held at the House Health and Mental Health Policy Committee heard from researchers who spoke to the therapeutic potential of psychedelics like psilocybin, DMT, mescaline, and ibogaine, as well as military veterans and law enforcement professionals who back the reform.

The committee’s members also took testimony from Missouri State Medical Association which opposed the measure.

Sponsored by Rep. Tony Lovasco (R), the bill, which also seeks to provide legal protection from prosecution for doctors who make …

Full story available on Benzinga.com

Original Post: benzinga.com

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Congress Under Pressure: Colorado Officials Push for Cannabis Banking Reform

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With the end of Congress’ session just around the corner, marijuana advocates, stakeholders and lawmakers continue to push for marijuana banking policy change.

This time, Colorado Gov. Jared Polis (D) joined forces with Lt. Gov. Dianne Primavera (D), Attorney General Phil Weiser (D), Treasurer Dave Young (D) and Department of Public Safety (DPS) Executive Director Stan Hilkey in urging congressional leaders to revisit the issue, reported Marijuana Moment.

In a letter sent on Monday to both House and Senate leaders, Colorado officials focused on the impact which a bipartisan marijuana banking bill will have in terms of public safety and industry equity,

“The lack of safe banking and financial services for the cannabis industry in the State of Colorado has become a dire public safety issue for highly regulated cannabis businesses operating in compliance with state …

Full story available on Benzinga.com

Original Post: benzinga.com

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New Data Shows Weed Legalization a Boon for Real Estate, New Jobs and Tax Revenue

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A new report from the Federal Reserve Bank shed light on the economic impact marijuana legalization has had in recent years, reported Marijuana Moment. Policy changes on the state level have resulted in increased commercial real estate demand, as well as a surge in tax revenues while creating more jobs.

According to an analysis from the Kansas City arm of the Central Bank, which collected data from several states under its jurisdiction, the Tenth Federal Reserve District, the cannabis industry has become one of the main economic sectors positioned to grow substantially in the coming period.

“Overall, the marijuana industry has had a significant effect on the economies of Tenth District states in the initial years after legalization,” the report said. “The emergence of the industry has …

Full story available on Benzinga.com

Article: benzinga.com

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Will Missouri Legalize Cannabis? Amendment 3 Suffers Another Attack This Time by State NAACP

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Cannabis legalization efforts in Missouri are under attack once again, this time by The Missouri State Conference of the NAACP.

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The Missouri NAACP, breaking with chapters in the St. Louis area is urging its members to vote against Amendment 3 on the Nov. 8 ballot, reported the Saint Louis Post-Dispatch.

The group announced Thursday that it believes recreational marijuana legalization, as it is proposed under Amendment 3, would prevent minorities from entering the cannabis industry. 

“Marijuana possession should not be a constitutional crime. Additionally, for years now, Black people, other minorities, and people who have been criminalized by marijuana laws in the past have been unable to enter the medical marijuana market,” the Missouri NAACP wrote. “That is not right. In an effort to prevent the permanent exclusion of minorities from the cannabis industry in the state of Missouri, the NAACP calls upon every voter to reject the criminalization of marijuana possession, de facto racist regulation of the cannabis market, and the wool being pulled over our eyes by the supporters of Amendment 3.”

Under Amendment 3, the first “comprehensive” cannabis business licenses would be provided to existing medical marijuana companies. 

The state’s chapter highlighted that the amendment “does not increase the number of available full market licenses” and claims that giving “micro” business licenses to disadvantaged groups makes a “very limited” program. 

According to Nimrod “Rod” Chapel Jr., president of the Missouri NAACP, members agreed last week …

Full story available on Benzinga.com

Source: benzinga.com

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