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Marijuana Legalization Proposal In Florida, On Track For 2024 Ballot? – Trulieve Cannabis (OTC:TCNNF) – Stocks to Watch
  • Fri. May 17th, 2024

Marijuana Legalization Proposal In Florida, On Track For 2024 Ballot? – Trulieve Cannabis (OTC:TCNNF)

ByJoana Scopel

Feb 3, 2023
Marijuana Legalization Proposal In Florida, On Track For 2024 Ballot? - Trulieve Cannabis (OTC:TCNNF)

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Smart & Safe Florida political committee filed a measure this past summer proposing a constitutional amendment to legalize recreational marijuana. The proposal received enough signatures for the measure to be reviewed by the Florida Supreme Court and now seeks to be placed on the 2024 ballot.

The political committee submitted 294,046 valid signatures, according to the state Division of Elections website. “At least 222,898 signatures are required for the court to review the proposed wording of the measure,” reported WSVN News Miami.

What Does The Proposal Say?

Under the “Adult Personal Use of Marijuana” Initiative, people over 21 years will be allowed to “possess, purchase, or use marijuana products and marijuana accessories for non-medical personal consumption.” 

The proposal also would allow MMJ Treatment Centers and FL’s licensed medicinal cannabis operators to “acquire, cultivate, process, manufacture, sell and distribute such products and accessories.”

However, the initiative would not allow home cultivation for personal use.

What’s Next?

The State Supreme Court “will review the wording of the proposition to make sure it includes only one issue and does not mislead voters,” per the local news outlet. Additionally, if the political committee gets Supreme Court approval, the proposal will have to gather 891,589 valid signatures to be introduced on the 2024 ballot.

Trulieve Cannabis Corp TCNNF contributed $20 million to the Smart & Safe Florida campaign, of which more than $19 million was spent on expenses related to petition collection and verification.

“Clearly this language was written with prior court decisions in mind. The lawyers read carefully what the court’s admonitions were on the previous ones and then took that guidance and put it in this language now,” Trulieve spokesperson Steve Vancore said. “Legal teams have reviewed, reviewed, reviewed and (…) attempted not to make those same mistakes.”

In related news, Gov. Ron DeSantis recently proposed a budget boost to medical marijuana policies in the state. “This commitment comes at a critical juncture,” said DeSantis, who proposed an increase in funding by $38.6 million for the Office of Medical Marijuana Use.

Speaking Of Florida, The Benzinga Cannabis Capital Conference Is Back!

The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference, returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A starts, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.

Image Credits: Ernie114, PeterPike by Pixabay Edited By Benzinga

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Image and article originally from www.benzinga.com. Read the original article here.

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