The legalization of recreational cannabis in Virginia could do wondrous things for the Old Dominion, where Senate Bill 391 was passed in a historic bipartisan vote on Feb. 16. However, before the commonwealth can generate the $1.3 billion that Headset analysts predict by the year 2025, lawmakers must first clarify which (if any) of the recently proposed amendments will be adopted into official law. It seems that Republicans are not entirely satisfied with some of the details contained in Virginia’s adult-use cannabis law, with at least eight measures being shoved under lawmakers’ noses. Republicans are hoping that the 2021 legal cannabis law—legislation that permits adult cannabis possession of up to an ounce and establishes the guidelines for retail sales to commence in 2024—will be revised before its official enactment. Reenactment Clause Could Alter the Outlook of Virginia’s Cannabis Market A reenactment clause contained in Virginia’s recreational cannabis law requests the legislature to cast another vote in 2022 on an intricate regulatory structure for retail sales. This provides Republicans with a window of opportunity to amend the licensing process, mainly in terms of tax revenue allocation and in regards to which license applicants will be granted priority over others.
Posted By, Cannabis Central, 03/29/2022 08:00:00