The SAFE Banking Act would prohibit regulators from penalizing banks and other depository institutions under federal money laundering laws for providing banking services to state-authorized cannabis businesses.
Key US Senator Downplays Hopes for Quick Action on Marijuana Banking Bill – Sen.
Advocates, Democrats Plan to Push Major Pot Reform – Senate Majority Leader Chuck Schumer are expected to introduce in May comprehensive cannabis legalization legislation.
Senate Democrats Split Over Legalizing Weed – Several Senate Democrats have either expressed opposition to comprehensive cannabis legislation to decriminalize cannabis at the federal level, or have stated they are undecided.
Biden Won’t Commit to Sign Marijuana Bill if Passed by Congress, Press Secretary Says – White House Press Secretary Jen Psaki declined to confirm whether President Biden would sign a bill to federally legalize cannabis if it was sent to President Biden’s desk.
In an opinion filed on April 22, the US Court of Appeals for the Ninth Circuit upheld a US Tax Court ruling that Patients Mutual Assistance Collective Corporation d/b/a Harborside Health Center, a California-based cannabis retailer, is liable for millions in back taxes after the Ninth Circuit determined that the company cannot claim certain deductions under Section 280E of the Internal Revenue Code.
ID – In a 42-28 vote, the Idaho House narrowly failed to achieve the two-thirds majority required to advance a proposed constitutional amendment that would have required a two-thirds majority vote by the Idaho legislature to remove any drug from the Schedule I and II lists of controlled substances.
Ford’s proposal, introduced on April 20, a first lottery, which has already determined winning applicants, would move forward, and a second lottery would award 110 licenses to existing social equity applicants that were excluded in the first lottery.
MS – The Mississippi Supreme Court on April 14 heard oral arguments to a constitutional challenge to the state’s medical cannabis initiative passed by voters in November 2020.
Montana voters passed a legalization initiative in November 2020, but the state’s Republican majority repealed the bill and replaced it with their own legislation.
NJ – The New Jersey Supreme Court ruled unanimously that a company must pay an injured employee’s medical cannabis bills, upholding an appellate division ruling.
NY – When New York legalized the full adult use of cannabis in March it became one of the first tax models in the country to impose a wholesale tax based on tetrahydrocannabinol content.
VA – On April 21, Virginia Governor Ralph Northam signed legislation legalizing adult-use recreational cannabis starting in 2024, making Virginia the 17th state to legalize cannabis for adult use.
How Regulatory Uncertainty Helped Give Rise to a New Street Drug – Delta-8-THC, a novel cannabis compound, is increasingly being sold across the US in various forms. Delta-8-THC occurs in trace amounts in hemp and cannabis but can be synthesized from hemp-derived CBD isolate.
Signs Bill Allowing Growing, Transport of Hemp – Idaho Governor Brad Little signed legislation on April 16 legalizing the production and transportation of hemp with up to 0.3 percent THC, becoming the last state to do so.
Morocco – The government of Morocco in March ratified a draft bill to legalize medical cannabis and Parliament is expected to debate the legislation this week.
YouGov Study: 25% of American Adults Now Consume Cannabis – According to a soon-to-be-released study by YouGov, a market research and data analytics firm, and Cresco Labs’ Sunnyside retail brand, one in four adults in the US currently consume cannabis or have tried a form of it during the past 12 months.
In January, Judge Hegart held that he could not enforce a contract involving a federally illegal business and dismissed most of the suit but gave the investor an opportunity to show that relief could be granted without implicating federal cannabis laws.
Bailey, MD, president of the American Medical Association , commented that even as public attitudes towards cannabis have changed, “significant public health and safety questions remain.” Dr.
Harvard Study Suggests Cannabis is Effective Treatment Option for Managing Chronic Pain – A Harvard University study of 37 patients suggests that cannabis can be an effective treatment option for chronic pain sufferers.
Oral CBD-Rich Cannabis Induces Clinical but not Endoscopic Response in Patients with Crohn’s Disease, a Randomized Controlled Trial – A study of 56 patients with Crohn’s disease found that CBD-rich oral cannabis treatment resulted in significant clinical and quality of life improvements but did not result in significant changes in inflammatory parameters or endoscopic scores.
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