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Both chambers of Maryland’s General Assembly introduced a bill on Friday laying out the state’s plan to launch a recreational cannabis market this coming July, a remarkable eight months after voters approved marijuana legalization in the November midterms.
State Senate President Bill Ferguson said in a news conference that legislators put together an “intentional, thoughtful framework” around a complex topic, one he said was comprehensive enough to become a national model.
“What I do believe we’ve done effectively here is put us on the best path possible. It’s a complex topic; there are a lot of different pieces,” Ferguson said. “No state has gotten it right, and so what I do believe we’ve done effectively here is put us on the path to, one, protect public health and having a regulated marketplace, where we have a real regulatory framework to ensure that the product that is being sold on the street is safe, and, two, open up and expand the marketplace in an equitable way.”
The bill will regulate the safety of cannabis, ensure equity in an expanding marketplace and invest 30% of tax revenues in communities that suffered as a result of the war on drugs.
Gov. Wes Moore, through a spokesperson, praised the bill as “a well-crafted piece of legislation” and said he is “looking forward to future collaboration with the legislature.”
House Delegate C.T. Wilson, who is leading talks on the bill, said lawmakers were keen to set up the new industry as quickly as possible so as to avoid the issues facing other states like New York and California such as their runaway illicit markets and lack of licenses.
“My goal is to make sure that we are not only competitive with the black market but that we are cheaper than the black market. What many states did to their detriment is create a stronger black market because (cannabis) is priced so high,” said Wilson who is also chair of the House Economic Matters Committee.
The Maryland proposal creates a hybrid license structure that will allow existing medical cannabis growers, processors and dispensaries to also sell to recreational users. Wilson told the Legislative Black Caucus that existing licensees who decide to participate in the expanded market “will pay a hefty fee to do so.”
Nationally, only 2% of cannabis industry participants are minorities, noted Wilson. The goal in Maryland is to get to 30% within one year, he said per the Baltimore Banner.
“We’re going to be representational of Maryland and that is our goal: to make sure that we provide access to all Marylanders, minorities included,” Wilson said.
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Image and article originally from www.benzinga.com. Read the original article here.