Cannabis Legalization News across the United States
The REPUBLICAN FEDERAL CANNABIS LEGALIZATION Bill (Breakdown)
Finally in 2021 there is a Republican-sponsored bill for the legalization of Cannabis on a federal level. Let’s break it down (LMC Breakdown) Cannabis Legalization News
Chuck Schumer to RELEASE Federal Marijuana Legalization Bill on 4/20?
Cannabis was legal in human history until the early twentieth century. According to the cannabis tax act 1937, cannabis use is valid in most states of the US. The legalization of cannabis permits many people to invest in marijuana and cannabis stocks.
On November 3, five US states, including Arizona, Mississippi, Montana, New Jersey, and South Dakota, passed an initiative for cannabis legalization. This legalization was in favor of cannabis use for the adult of 21 and above. Some states vote in favor of medical marijuana use, while others vote for recreational marijuana use. Since then, lots of development in the legalization have done, a user has to keep an eye on the cannabis news and bills.
Efforts of many legislative states of the US renew in 2021 due to the COVID-19 pandemic. However, some states are still considering the cannabis legalization news for the first time. After November 2020, subsequent development within the legalization of cannabis may impact the approval.
New employers to marijuana legalization must be acquainted with two extensive categories of medical marijuana that are:
Laws with the protection of medical marijuana cardholders.
Laws without the protection of medical marijuana cardholders.
Also, employers should be acquainted that no matter what a marijuana legalization law contains, they should be aware of inherent disability and accommodation issues.
Crucially, recreational marijuana laws are more common; though, they don't contain recreational users' protection.
Employers must keep in mind that legislation tends to evolve as bills; the bill discussed here are in parliamentary stages.
Why Is Federal Legalization of Cannabis Important?
The United States is the backbone of the cannabis market. Research by ArcView Market shows that the cannabis industry will hit $57 billion in the global market by 2027. The recreational market will cover 67%, and the medical market will cover 32%. The recreational cannabis market will remain hampered until the US legalizes marijuana federally. Also, recreational use is more lucrative and easier to get than medical cannabis.
At the federal level, Cannabis is classified under controlled substances. It means that federal authorities prohibit the production and sale of recreational marijuana. One of the main reasons for the prohibition is THC – Tetrahydrocannabinol that is psychoactive.
Medical Marijuana Legislation
Alabama:
According to Senate Bill 46, medical marijuana would be legal in Alabama. This bill is the same as prior legislation and won't consider the protection of marijuana cardholders.
Florida:
Senate Bill 692 & House Bill 335 would amend the existing Florida Medical Cannabis Act to prohibit public employers from taking action against cardholders. A public employer would be permitted to a disciplined and lawful use of medical marijuana. Essentially, this prohibition is for public employers only.
Hawaii:
Senate Bill 64 would amend the existing act to add protection of medical marijuana cardholders.
Idaho:
Idaho senate members vote in favor of the illegality of psychoactive drugs. However, the Idaho house health & welfare committee introduce an amendment for the legalization of medical marijuana.
Kansas:
Kansas governor announces a proposal introduced by House Federal and State of affairs to legalize the medicinal use of marijuana. Both Senate Bill 92 & House Bill 2184 don't have the protection of marijuana cardholders.
Kentucky:
Cannabis Legalization News in Kentucky legalizes medical marijuana use without the protection of cardholders.
Mississippi:
On February 12, 2021, the Mississippi state Senate passed a bill to legalize medical marijuana. However, the bill doesn't contain employer protection.
Recreational Marijuana Legalization
Connecticut:
Senate Bill 5853 & 888 and Governor Ned Lamont would legalize the recreational use of marijuana in Connecticut.
Florida:
Recreational marijuana use in Florida would legalize through Senate Bill 343 and Senate Bill 710.
Hawaii:
Lawmakers and Senate members are considering the legalization of recreational marijuana through Senate Bill 767.
Maryland:
Recreational marijuana use would be legal through Senate Bill 32.
Minnesota:
House Bill 600 and Senate Bill 757 would legalize the recreational use of marijuana.
New Jersey:
CREAMMA Act passed on February 20, 2021, legalizes recreational marijuana use for adults. New Jersey cannabis regulatory law also prohibits employers from taking adverse action against recreational users.
New Mexico:
Legalized as of April 2nd / Lawmakers of New Mexico are considering legalizing recreational marijuana through House Bill 12.
New York:
Legalized as of April 2nd / Andrew Cuomo, Governor of New York being a vocal proponent of recreational marijuana use considering legalizing it.
Virginia:
General Assembly of Virginia approved legislation to legalize the production and sale of recreational marijuana for adults. This law will be proposed on January 1, 2024.
Other states:
Legislation of marijuana use is still pending in several states. Approximately 27 US states allow employers to use medical marijuana. The laws of medical and recreational marijuana legalization are viewed differently and contain restrictions for use. Employers would have to monitor the efforts of states for cannabis legalization news.
Problems due to Federal Legalization:
One of the most primary difficulties for cannabis entrepreneurs is the lack of funding source. Due to federal legislation, bank owners refuse to lend the cannabis entrepreneurs. The federal prohibition and state legalization magnify other regulatory issues for cannabis entrepreneurs. FDA – Federal Drug Administration has only approved few products with cannabidiol or CBD.
Typically, private equity lead to provide funds to the cannabis entrepreneurs, but they hesitate to enter the industries due to cannabis social stigma and federal illegality.
Another potential issue due to the absence of federal legalization is that it limits the land to cultivate cannabis. To grow in the market, it is essential to exceeding production from market demand. The constrained amount of cannabis is due Controlled Substance Act that limits the farmers to cultivate less.
The Bottom Line:
Many US states and countries would legalize cannabis as there is no argument that marijuana doesn’t have medical benefits. With the increasing number of potential users and scientific research, the legalization of marijuana will increase. Cannabis legalization news by federal authorities will provoke the small businesses. Federal legalization of medical and recreational marijuana would open the door for multinational players to enter the cannabis market. The legalization news will break through webinars, podcast programs, and news channels.