Delaware Governor John Carney stated that he would permit two bills to become law without his signature to legalize cannabis possession and create a controlled adult-use market. This has since come to pass.
Advocates were worried that the governor would override the proposals, as he did during the previous session. He did, however, recently announced that he would let HB 1 and HB 2 take effect without his active participation, which came as a happy surprise to supporters.
Carney, who had previously refrained from commenting on his intentions regarding the marijuana reform proposals from Representative Ed Osienski (D), said that while his opinions on the matter have not changed and he continues to believe that legalizing marijuana is not a positive move, he would no longer oppose the reform.
In a similar vein, he stated during a town hall meeting last week that he thought it was time to put the discussion of marijuana to rest and concentrate on other matters after being challenged on the subject by a number of attendees. In his most recent address, he underlined his unresolved reservations and reiterated the point he had made earlier, outlining the reasons why he would permit the proposed legislations to become law, albeit symbolically and without his signature.
The following is what the legalization measure, HB 1, will achieve:
- A change to state law would make it lawful for adults aged 21 years and above to possess, use, share and buy up to an ounce of marijuana.
- To prevent misuse of the gifting clause, the law specifies that adult sharing does not include giving away cannabis concurrently with another reciprocal transaction between the same people.
- Consumption of cannabis in public and its cultivation remain illegal.
- A civil fine of up to $100 could be imposed for a first violation on those who use or possess cannabis if they are under age 21. However, police might exercise discretion and cite someone instead of charging that fee.
Here is a summary of the main clauses in the HB 2 regulation bill:
- The measure would offer a fundamental basis for establishing a regulated adult-use marijuana trade system.
- The Division of Alcohol and Tobacco Enforcement, through a newly created Office of Cannabis Control Commissioner, would be in charge of overseeing the market.
- Only a maximum of 30 marijuana retail licenses could be granted by regulators during the first 16 months of operation.
- The license scoring procedure would give priority to applicants who can demonstrate that they would hire people from diverse backgrounds and offer a livable wage, health insurance, paid time off for illness, and sick leave.
- The Justice Reinvestment Fund, which supports restorative justice, employment development, technical help for those who are economically disadvantaged and more, would receive 7% of the money collected from cannabis revenue.
- Recreational cannabis sales would be subject to a 15% sales tax. There would be no tax on medical marijuana products.
The newly enacted cannabis legalization laws could potentially create a market for businesses such as Advanced Container Technologies Inc. (OTC: ACTX), which supply indoor cultivation equipment to marijuana growers at commercial scale.
NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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