Virginia lawmakers on Saturday narrowly approved compromise legislation legalizing a commercial recreational marijuana program that could generate nearly $1.5 billion in annual sales within five years of the scheduled Jan. 1, 2024 start. But there’s a catch: The measure passed includes a clause pushed by the Senate that will require the General Assembly in 2022 to reenact a number of provisions of the bill including those that detail the regulatory and market structure such as licensing. Virginia would become the country’s 16th state and the first in the South to legalize adult-use marijuana as soon as Gov. Ralph Northam signs the bill, as he is expected to do. Northam, a Democrat, vowed to push for adult-use legalization during this legislative session. The House of Delegates passed the compromise bill 47-44 while the Senate approved the measure 20-19.

Marijuana Business Daily, 02/27/2021 20:30:00

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