California Could Become The Cannabis Industry’s Safe Haven

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In a recent article from Forbes, California could become the safe haven for the cannabis industry. The California Bureau of Cannabis Control has yet to finalize a proposal that will allow businesses to operate as an “Alcohol Beverage Control” license. This is a proposal that was put forth by state lawmakers as they have been looking towards recreational cannabis as their next big industry.

The law would provide the possibility of operating as a type of ABC license as it allows for manufacturers, distributors, and retailers to sell cannabis products in stores under these licenses. However, before the licensing is confirmed there must be a vote from the state legislature and then approval from voters. 

There is an ample number of supporters for legalizing cannabis, but there are also many that oppose this form of legislation.

The Bureau of Cannabis Control has put out a statement in regards to the proposed law change stating “the Board can consider licensing activities involving adult-use (recreational) cannabis or medicinal cannabis”. This would be an excellent opportunity for California to secure its place in the market as this is an economic sector that Bloomberg has said would be worth $10 billion by 2020.

The Department of Public Health came out with a report on cannabis stating there are some health risks, but it is relatively harmless and should not be considered illegal. This may have been a tipping point for getting California on board with legalizing cannabis. 

This would not be the first time that a state has changed its laws on cannabis as voters in both Colorado and Nevada have opted for a recreational based system.

All three of these states will allow retail stores to sell marijuana products which include flowers, pre-packaged edibles, drinks, vape pens, and pre-rolls. The new rules will not be the same for all states as there are some that have opted to ban commercial operations.

The state of Maine has not yet allowed the legalization of commercial operations, but they do allow adult-use home growing. The number of states that will be legalized this year is still unknown at this time as the marijuana industry is still growing as a whole.

The future for California looks bright as it could be one of the first states to legalize cannabis this year and go all-in with recreational sales. This has become quite popular in Canada where they will begin selling recreational cannabis nationwide by July 1st, 2018. Officials in California say that commercial operations could be on track to begin by January of 2019.

The state was the first to legalize medical cannabis in 1996 and has become a major point for business owners. The passage of recreational sales would further help cement California as one of the premier locations on the west coast for the cannabis industry. 

With this potential passing, California could see an influx of business owners looking to start their own dispensary.

With the state being the world’s sixth-largest economy, cannabis legalization could have a massive impact on that number. The legalization goes into effect in January of 2018 and will be an exciting time for all who are part of this industry or just enjoy recreational products.

California is one of the four states that legalized recreational cannabis in 2017 along with Nevada, Massachusetts, and Maine. The state of California has been behind the curve when it comes to legalizing cannabis which is why many believe they will begin adult-use sales this year.

There is a new bill on the table and if approved, adults would be allowed to purchase up to one ounce of cannabis from a local retailer. This would be a monumental change to the law and one that many business owners are hoping for. The bill is said to provide protection from federal interference where it pertains to state marijuana laws.

In addition, Californian businesses would be allowed access to banking resources which is something they have been denied due to the marijuana being illegal on a federal level.

Business owners in California have been fighting for this change to take place, but are asking for more protection from Attorney General Jeff Sessions who is not friendly toward cannabis at all. The bill would help protect businesses from federal interference with their rights to grow and distribute cannabis within state lines.

This is one of many bills that have been introduced to change current laws for adult-use cannabis transactions. If passed, the state could be at the same level as Canada where they are currently set to legalize recreational marijuana by July 1st of 2018.

States like California are looking to legalize recreational cannabis in order to generate tax revenue which is something many other states would like to do as well. The ballot is currently said to cost the state anywhere from $2 million to $5 million dollars where it will be voted on in November of this year.

Although many states are looking to legalize cannabis, there are still some politicians who would like to see marijuana remain illegal throughout the United States. This comes as no surprise as prohibition has been in place for over 80 years which gives politicians a sense of familiarity.

They are concerned with the psychoactive properties of THC and believe that legalizing cannabis would increase crime throughout the state. There is no clear evidence to support this claim as it has not happened where other states have approved recreational cannabis.

As stated above, there are many factors that play into legalization such as tax revenue and crime prevention. States also want to be able to get their hands on the billion-dollar industry that is currently only available on the black market.

Many business owners are excited about this bill and believe it will pass throughout California, but we will have to wait and see if it becomes law before 2019 begins. The bill could have a positive impact on California but it is unclear just how much of an effect this would have.

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