Welcome back to the buzz, our monthly cannabis news and policy update. Your at-a-glance source for regulatory developments, agency announcements, and trends impacting the cannabis industry.
In this edition of the buzz, highlights include:
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Rescheduling roadblock: Will spending bill block the DOJ from using funds on rescheduling?
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280E strikes again: US Tax Court restricts QBI deduction benefits—WA cannabis businesses owe nearly $1M
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New markets opening: RI accepts applications for 24 adult-use retail licenses to be awarded through lottery; NE about to launch medical program with 60% potency caps
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Around the states: CA Gov. New Newsom reduces state cannabis tax from 19% to 15% through 2028. NY proposes new rules for advertising, packaging, and labeling
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Upcoming cannabis ballot measures: in MA (repealing adult-use market); MO (combine cannabis + hemp); OR (legalize social consumption site).
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Hemp updates: VA Rep Griffith proposed new framework to regulate hemp-derived cannabinoid products under FDA/DHS. TX Gov. Abbott moves forward on regulating hemp and incorporating hemp beverages into alcohol supply chain. MD appeals court OKs requiring cannabis licenses for higher-THC hemp products.
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This publication is designed to provide general information on pertinent legal topics. The statements made are provided for educational purposes only. They do not constitute legal or financial advice nor do they necessarily reflect the views of Holland & Hart LLP or any of its attorneys other than the author(s). This publication is not intended to create an attorney-client relationship between you and Holland & Hart LLP. Substantive changes in the law subsequent to the date of this publication might affect the analysis or commentary. Similarly, the analysis may differ depending on the jurisdiction or circumstances. If you have specific questions as to the application of the law to your activities, you should seek the advice of your legal counsel.