Rhode Island-Legal-Marijuana

The Rhode Island Senate is proposing to legalize the production and distribution of cannabis statewide, allow Rhode Islanders to possess up to an ounce of cannabis and impose a 20 percent tax on the industry, WPRI News 12 reports. The proposal is supported by Joshua Miller (D), chairman of the Senate Health and Human Services Committee, and Michael McCaffrey (D), Senate Majority Leader.

The legalization of cannabis is a monumental change in public policy that effectively creates a new economy. We want as many Rhode Islanders as possible to have the opportunity to participate in this new economy. – Senator Miller, in a statement.

According to the report, Senate President Dominic Ruggerio has charged two lawmakers with drafting a bill that represents a shift from Ruggerio, who previously supported only medical cannabis.

The Senate bill establishes a five-member Cannabis Control Commission to issue licenses and set rules to regulate the market. Cities automatically receive three licenses, and additional licenses are available for larger cities. Municipalities can only prevent the sale of cannabis by referendum. Under the plan, a 20 percent tax would be levied on adult-use cannabis, with 3 percent going to local governments and 7 percent to the sales fund, and a new 10 percent tax would be levied only on hemp. The retail rate is $20,000 and the cost of licensed cultivation ranges from $20,000 to $100,000. The bill also provides mechanisms to eliminate cannabis-related arrests.

The house seems ambiguous on this issue. House Speaker Joe Shekarchi has not yet taken a position, but is prepared to hear from all interested parties and the public during the House Committee hearing, a spokesman said.

Gov. Dan McKee, an advocate for legalization, will also unveil his own framework for adult use of cannabis on Thursday in the form of a budget proposal, which could lead to negotiations that could soon see Rhode Island join the list of states where cannabis is legal.

Rhode Island is expanding its medical cannabis system from three to nine stores. It is possible that these stores will be the first to be licensed for adult use.

rhode island legalization 2020,rhode island legalization 2021,when will rhode island recreational dispensaries open,recreational dispensary near me

You May Also Like

Elon Musk Thinks CBD Is ‘Fake,’ But Joe Rogan Teaches Him A Lesson

Elon Musk may know a bit more about rockets and electronic machines, but in an interview with podcaster Joe Rogan this week, he revealed a blind spot regarding cannabis, saying he thinks CBD is “fake.” This does not mean that…

Reddit’s WallStreetBets Drives Market Volatility for Cannabis Stocks

Influenced by traders on /r/WallStreetBets, the Reddit-based forum that stirred the stock market last month with the launch of GameStop shares, shares of cannabis companies have seen volatile highs and lows this week, reports Business Insider. On Thursday, Tilray shares…

Connecticut Governor Unveils Adult-Use Legalization Proposal in Budget Request

After Steven Meland and Jeremy Breton, co-owners of Hotbox Farms, opened the doors to their 2019 clinic in Ontario, Oregon, lines formed, as they did at other clinics in the city. It was 5 a.m. when he heard someone knocking…

Virginia Advances Dueling Cannabis Legalization Bills

The Virginia House and Senate have passed comprehensive cannabis legalization bills. These bills are on their way to a conference committee to agree on the final wording – which must be approved again by both houses – before being sent…