420 with CNW — Maryland Legislators Recognized ‘Marijuana’ as Racist Term While Formulating Cannabis Law

In 1924, the people of Baltimore awoke to a startling illustration in their leading newspaper. It depicted a devil emerging amid the fumes of cannabis being cooked in a pot over coals. The smoke drove those with the habit of secluding themselves into a frenzy.

The headline of that August edition of the Baltimore Sun read, “The Mystery of the Peculiar Mexican Herb,” as several news outlets at the time used similar imagery and language. The article continued, attributing all kinds of negative tendencies to indulgence in the dreaded “marihuana weed” from Mexico. This sentiment was part of a wider anti-Mexican wave that often masked itself as a call for banning a dangerous substance.

Mexican newspapers had used the term “marihuana” as early as the 19th century when indigenous Mexicans embraced the medicinal and recreational use of the plant after its introduction by Spanish colonizers.

As Maryland recently joined other states in legalizing recreational cannabis use for adults, the debate over what to call the drug also arose. In the past, “marijuana” and “cannabis” have been used interchangeably. However, some scholars pointed out that the term “marijuana” had stigmatized the plant, particularly within Mexican and broader Latino communities, leading some to consider it racist.

In Maryland, lawmakers chose to use “cannabis” in the statute ending the criminalization of the drug, with the primary focus being reducing the incarceration rates of Latinos and Blacks for drug possession. The state is also committed to educating Latinos through workshops about legalization and cannabis business opportunities to counter misinformation and reduce stigma.

The negative connotations of the word “marijuana” resonate with Antonio Valdez, director of the National Hispanic Cannabis Council (NHCC), reminding him of his mother’s disapproval, a cultural aspect that brought shame within Latino households. A study by the NHCC showed that parents often cause feelings of shame over cannabis among Hispanic individuals, though many of them use the substance recreationally or medicinally. Interestingly, the study revealed that 41% of respondents were comfortable with the term “marijuana” compared to “cannabis,” while another 41% had no strong preference.

Santiago Guerra, a Colorado College professor of Southwest studies, emphasized the importance of using culturally significant terms for cannabis to foster inclusivity within the industry. Referring to the plant as “marijuana” recognizes the historical connection between indigenous Mexican populations and the plant, he said. Guerra emphasized that branding “marijuana” as racist overlooks the true reason behind the U.S. criminalization of the plant, which was fueled by anti-Mexican sentiments following the Mexican-American War.

As more states legalize the drug, Guerra believes it is essential to recognize Mexico’s historical role in its relationship with cannabis. By silencing this history, the true understanding of the term “marijuana” is lost, he added.

While legalization is intended to put an end to some of the social ills resulting from prohibition, it will also open up business opportunities for several cannabis-touching and ancillary actors such as Advanced Container Technologies Inc. (OTC: ACTX).

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

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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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420 with CNW — Oklahoma Cannabis Companies Sue Regulators over Proposed Fees

Although most cannabis reform activists and industry stakeholders are delighted with nationwide efforts to legalize cannabis and promote social equity, they aren’t happy with the fees and taxes cannabis businesses are forced to pay. Cannabis operators in most states with legal markets have long complained of excessively high fees and taxes they are required to pay under their respective regulatory policies.

Even though cannabis is still illegal at the federal level, taxes across the country are so high that they exceed taxes for alcohol by a wide margin in many states. These fees significantly limit participation in the market, increase prices for legal cannabis and allow the already massive cannabis black market to continue attracting most of the market.

A group of medical cannabis companies in Oklahoma have teamed up with a cannabis industry advocate to sue the state over the increasingly high fees levied on cannabis businesses.

Regulators recently approved a new fee structure that increased licensing fees for medical cannabis cultivators, processors, laboratories and dispensaries. Cannabis businesses that used to pay a flat $2,500 fee for licenses will now have to pay thousands more per year, with the largest cultivators required to pay up to $50,000 annually to retain their licenses.

The lawsuit claims that these fee increases are in violation of Oklahoma’s constitution and are no different from a “revenue-raising” measure. Oklahoma law requires that revenue bills receive more votes to advance compared to traditional bills. However, the lawsuit argues that since the new cannabis fees did not receive supermajority votes and were passed just as the 2022 session drew to a close, they cannot be codified as law.

Furthermore, the lawsuit explained that it called the fees a revenue-raising measure because the bill did not outline any regulations that would be funded by the extra funding raised by the increased fees. As such, the lawsuit said, the legislation was designed to raise additional revenue for the state rather than being regulatory in nature.

The lawsuit says that the new regulations would have a major financial impact on the medical cannabis industry, costing players in the sector close to $30 million in fees per year.

Oklahomans for Responsible Cannabis Action founder Jed Green and one of the petitioners on the suit says that the lawsuit raises constitutional questions that affect every taxpayer in Oklahoma. He was joined in the petition by medical cannabis cultivator Pharside, medical cannabis dispensary Oklahoma Natural Cures, and cannabis processor Bingo 101.

For enterprises such as IGC Pharma Inc. (NYSE American: IGC), which operate under the drug-development regulations of the FDA, no such disputes over fees can arise because there is a national structure governing the fees drug developers have to pay as they seek permission for each phase of the process that they seek to conduct.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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420 with CNW — Home-Grow Cannabis Law Takes Effect in Connecticut

Starting this week, adults aged 21 years and older in Connecticut have been granted the legal right to grow their own cannabis for personal use, as per the latest provision of the state’s marijuana legalization law. As a reminder of this policy change, the DCP released a notice that emphasized the value of responsible cultivation and provided a thorough rundown of the requirements that must be adhered to.

Some of the key points that adults should be aware of regarding cannabis home cultivation include:

Individuals aged 21 and older can grow a maximum of six marijuana plants, with only three of those plants allowed to be in a mature state for personal use.
Regardless of the number of adults residing together, the household plant limit is capped at 12 plants.
The cultivation must take place indoors, away from public view, in a secure location inaccessible to minors and pets.
After harvesting, adults are strongly advised to store the cannabis in child-resistant packaging to ensure safety.

The legalization law that is being put into effect allowed medical cannabis patients the opportunity to start growing their own plants in October 2021, and that privilege is now being extended to all adult users over the age of 21.

Interestingly, home cultivation legalization comes some six months after Connecticut’s first recreational cannabis retailers opened, resulting in a significant expansion of the market. Recreational sales have risen to previously unheard-of heights and, as of May, have surpassed those for medical use.

Recently, Governor Ned Lamont signed a cannabis omnibus bill that introduces several reforms. Included in this are limitations on consuming hemp-derived goods, the creation of a new Connecticut Office of the Marijuana Ombudsman, and the issuance of permits for cannabis businesses to hold off-site events. Also included in the measure are definitions of edible marijuana products and revisions to the state lottery’s licensing policies.

In the meantime, the governor approved budget legislation last month that includes clauses to give state tax relief to legalized cannabis entities that are now forbidden from taking federal deductions under IRS code section 280E.

Moreover, a bill to improve the state’s cannabis legalization and expungement statute was approved by the House of Representatives in May. The measure calls for the release of people who are currently in prison on cannabis-related offenses as well as requests for judges to impose lighter terms or drop charges for a wider variety of cannabis-related convictions.

Similarly, the House approved a bill in May decriminalizing the possession of psilocybin mushrooms; however, the Senate did not consider these proposals before the legislative session ended.

The commencement of marijuana home cultivation is likely to create a bigger demand for indoor cultivation equipment in the category of what Advanced Container Technologies Inc. (OTC: ACTX) makes. If this happens, suppliers will likely a spike in sales.

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

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Lexaria Bioscience Corp. (NASDAQ: LEXX) – A Zacks Update

Lexaria just released its mid-year update, highlighting its key milestones so far and its objectives going forward, summarized in a recent Zacks update
Of note was the company’s most ambitious clinical study yet, HYPER-H21-4, along with its growing patent portfolio that now sees six additional patents awarded across Australia, Japan, the U.S., and Canada so far in 2023
The company also noted its $2 million capital raise back in May, a strong indicator of shareholders’ confidence in the brand, and its efforts to grow its operations
Lexaria looks to build on the momentum gathered so far, and its management is optimistic that it will achieve its objectives for the 2023 calendar year

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just released its mid-year update, marking significant strides both in its research and in creating value for its shareholders. In a report by Zacks Small Cap Research, the company’s critical milestones for the current calendar year were highlighted, from recent publications to awarded patents and capital raised thus far.

Of note was Lexaria’s most ambitious clinical study yet, HYPER-H21-4, a clinical study exploring the potential of the company’s patented DehydraTECH(TM)-processed cannabidiol (“CBD”) for the treatment of hypertension. Enrollments for the study kicked off in April 2022, with dosing beginning ahead of schedule and completed on July 27th (https://cnw.fm/1HQdu). With the success of this study so far, Lexaria is on track to file an Investigational New Drug application with the U.S. Food and Drug Administration, for DehydraTECH-processed CBD later this year, in addition to tapping into the hypertension treatment market that is estimated to hit $39.5 billion in value by 2030 (https://cnw.fm/zNTt1).

Lexaria has also made significant strides in growing its patent portfolio, with its 28th patent worldwide being awarded in late December 2022. Two additional announcements were made in April and June highlighting several global grants, in addition to six patents awarded across Australia, Japan, the United States, and Canada so far in 2023. This goes a long way in strengthening the Lexaria brand, as evidenced by the $2 million capital raise on May 8th.

This capital raise in a public offering saw 2,106,000 units sold at $0.95 per unit, consisting of one share of stock and a warrant with an exercise price of $0.95 per share, offering a five-year term. It showed shareholders’ confidence in the company and its efforts to grow its operations and fulfill its mandate. It was also a show of the company’s growth and future ambitions.

Lexaria also noted significant progress on its nicotine operations, particularly given its receipt of Independent Review Board (“IRB”) approval for its human nicotine study designated NIC-H22-1. Similar progress was made on its Estradiol hormone study, with the recently-concluded animal study HOR-A22-1 demonstrating successful delivery of estradiol and its metabolite estrone using DehydraTECH. These, and more efforts from Lexaria, were recognized in research circles, with eight research paper publications playing a massive role in it.

In a June 22nd press release, Lexaria acknowledged its most recent publication in the International Journal of Molecular Sciences, titled Differences in Plasma Cannabidiol Concentrations in Women and Men: A Randomized, Placebo-Controlled, Crossover Study. The publication noted that CBD concentrations were higher in women than men and correlated with the proportion of adipose tissue. The difference in sexes, it noted, was attributed to higher levels of fat tissue in women than men.

Lexaria looks to build on its momentum so far and achieve its objectives for the 2023 calendar year. Its management is optimistic that these goals, and more, will be achieved in the year and that the company will continue to create value for its shareholders while at it.

For more information, visit the company’s website at www.LexariaBioscience.com.

NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX

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420 with CNW — Maryland Starts Implementing Adult-Use Cannabis Law

Two months after Maryland approved legislation to create a regulatory framework for recreational cannabis sales, the state has officially launched its adult-use market. State lawmakers approved Senate Bill 516 in April following months of negotiation on key issues such as social equity and taxation before forwarding it to the governor’s desk.

Governor Wes Moore signed the measure into law in May and set the stage for recreational sales in Maryland, stating at the time that the bill would make sure Maryland’s recreational cannabis market would provide equitable opportunity. The recreational cannabis bill finally took effect last week and made simple possession and personal cultivation of cannabis legal. It will also allow existing medical cannabis dispensaries to begin selling adult-use marijuana, ensuring that the state’s recreational market will see a relatively quick launch just months after legalization.

Regulators have already approved close to 100 dispensaries and converted their medical cannabis licenses to dual licenses that will allow businesses to serve both medical cannabis patients and adult consumers from July 1, 2023. The Maryland Cannabis Administration (MCA) has also approved 38 recreational cannabis cultivators and manufacturers to help supply the burgeoning market.

Cannabis is without a doubt one of the fastest-growing industries in the world. The industry has created hundreds of thousands of new job opportunities and generated billions of dollars in annual taxes, with states such as California regularly reporting hundreds of millions of dollars in cannabis taxes per year.

Most states with legal cannabis markets have also included social equity provisions that ensure members of communities that were disproportionately affected by the failed war on drugs have equitable access to the lucrative cannabis market.

Speaking at a recent Cannabis Regulators Association (CANRA) conference, Governor Moore noted that cannabis policy has been used to oppress people of color in the past and weakened not just certain communities but the country as a whole. He said that the state was now penning a new chapter in America’s sordid tale with cannabis, a chapter focused on ensuring both equity and economic growth.

Acting MCA Director Will Tilburg said that the association is excited to “offer safe, legal and tested” cannabis products to adults, and urged consumers to learn about the recreational cannabis law and practice safe, responsible cannabis consumption.

Customers can now purchase pre-rolled joints, dried cannabis flower, disposable vape pens, vape cartridges, capsules, topical products and edibles with no more than 10mg of THC per serving and 100 mg of THC per package.

Smoking in public spaces, restaurants and moving cars is not allowed, and it is still illegal to drive while under the influence of marijuana or transport cannabis products out of the state of Maryland.

As more U.S. states start implementing recreational cannabis programs, several enterprises such as IGC Pharma Inc. (NYSE American: IGC) are also working to raise the bar for the medical use of marijuana by developing formulations that meet the requirements of regulators such as the FDA before such formulations are licensed for use within the healthcare system.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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420 with CNW — Records Show Arizona Crossed $100M Mark for Monthly Cannabis Sales

State data has revealed that Arizona’s recreational cannabis market passed the $100 million sales threshold in March. The state legalized recreational cannabis in 2020 via the Safe and Smart Arizona Act, allowing the purchase, possession and use of recreational cannabis by adults aged 21 years of age and older.

It took Arizona a little more than a year after legalization to reach $100 million in adult-use cannabis sales, with recreational marijuana sales tripling medical cannabis sales over the last three months. According to the Arizona Department of Revenue, the state’s medical marijuana market has averaged $30 million in sales every month. Recreational cannabis sales in March were close to $101 million, increasing by more than $10 million from the $86.5 worth of recreational cannabis sold in April.

Cumulative sales for both recreational and medical cannabis reached $100 million in March 2021 with $59 million in recreational cannabis sales and more than $473 million in medical cannabis sales. Although overall cannabis sales in Arizona have surpassed $100 million every month since, March 2023 was the first time recreational cannabis sales alone breached the $100 million mark.

While recreational cannabis sales have seen an upward trajectory since March 2021, medical cannabis sales have been on a steady decline since peaking at $73.3 million in April 2021. Medical cannabis sales in July 2021 were under $40 million, and they have ranged from $33 million to $28.6 million from September 2022 to February 2023 when Arizona saw its lowest month of medical marijuana sales since it started reporting sales figures.

On the other hand, Arizona residents bought $93.4 million worth of recreational cannabis in December 2022, $91.3 million in January 2023 and $84.5 million in February 2023 before breaching the $100 million mark in March.

Arizona is already earning millions of dollars in tax revenue from cannabis sales, with the recreational market providing $15.4 million in revenue and the medical market providing $10.4 million. The state levies a 16% excise tax on adult-use cannabis sales and a 6% sales tax on medical cannabis while local governments charge an extra 2% on all cannabis sales.

According to the report, 30% of the total taxes collected from cannabis go to community college and provisional community college districts, 31% goes to public safety programs, 25% to the Arizona Highway User Revenue Fund and 10% to the justice reinvestment fund.

The sales numbers represent the enduring consumer demand for recreational cannabis around the country. States such as California, which have had legal recreational cannabis markets for much longer, are now home to behemoth markets that sell billions of dollars’ worth of adult-use cannabis each year.

These thriving markets for cannabis have created additional opportunities for entities such as Advanced Container Technologies Inc. (OTC: ACTX), which see a gap in the availability of the supplies that actors in the marijuana industry need.

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

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420 with CNW — NBA Formally Removes Cannabis from List of Banned Substances

The National Basketball Association, as well as its players’ association, has officially come to terms on an agreement that brings significant changes to the league’s approach toward cannabis. In a comprehensive document spanning 676 pages, various provisions related to cannabis have been outlined, with the major change being the deletion of marijuana from the organization’s list of banned drugs for players.

One key aspect of the new agreement is that players are now allowed to invest in and promote cannabis brands, but with specific conditions. Players can hold an ownership interest, either directly or indirectly, in entities involved in producing or selling CBD products, provided that the THC content in the cannabis does not exceed 0.3% dry weight. Additionally, players are permitted to invest in cannabis firms, as long as their ownership is passive while also being below 50%.

Promotional activities by players are also addressed in the agreement. Players can endorse CBD products from entities that don’t fall under the category of cannabis companies. However, if a player wishes to endorse cannabidiol (CBD) products from a marijuana entity, they must seek permission from both the NBA as well as the association bringing together all the players.

Permission may be withheld if the cannabidiol products are marketed through a brand which also includes cannabis products. If the endorsement could cause confusion with cannabis-related items, permission could also be denied.

The collective bargaining agreement establishes sanctions for players found guilty of driving while intoxicated by alcohol or any controlled substance, as well as for those involved in felonies related to cannabis distribution. The use of cannabis or its products by players is treated similarly to alcohol, and teams are allowed to refer players to the medical director for mandatory evaluations if they have reasonable cause to suspect substance use or dependency issues.

The agreement also acknowledges the potential dangers of synthetic cannabinoids such as delta-8 THC and provides a voluntary treatment option for players seeking help in such cases. While voluntary entry into the program incurs no penalties, noncompliance after enrolling could lead to fines and possible suspensions.

By formally eliminating cannabis from the list of banned substances, the NBA ratifies its decision to suspend cannabis testing for the past three seasons.

This move was praised by well-known personalities, such as Snoop Dogg, an iconic figure in the cannabis community and a commentator for the NBA. Snoop Dogg commended the league’s decision, recognizing the benefits of cannabis for medical purposes and as an alternative to opioids.

Michele Roberts, a former head of the NBPA and a board member of Cresco Labs, a major cannabis company, had previously anticipated that the league would eventually adopt a formal policy change to support cannabis use, which has now become a reality with the signing of the new collective bargaining agreement.

It isn’t surprising that the NBA is making these adjustments to its rules. It has been known that numerous enterprises such as IGC Pharma Inc. (NYSE American: IGC) are making headway in commercializing FDA-approved treatments based on cannabis constituents including THC, so the NBA can no longer deny the therapeutic potential of cannabis.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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420 with CNW — Italy Moves to Regulate Its ‘Marijuana Light’ Program

Last week, Italian lawmakers presented proposals aimed at regulating Italy’s booming low-THC cannabis industry. Dubbed “cannabis light,” Italy’s industry is now home to multitudes of retail outlets selling cannabis with low levels of THC. Although legislators didn’t initially set out to legalize recreational cannabis, a measure meant to legalize industrial hemp, a type of cannabis that has little to no THC, opened a loophole that allowed the cannabis light sector to take root.

The government is now working to regulate the sector. On June 20, 2023, Italian Prime Minister Gorgia Meloni proposed amending tobacco legislation and extending it to cover low-THC hemp flower as well. Meloni’s proposal would have laid out a tax framework for low-THC hemp and created an authorization system via the Customs and Monopolies Agency (DM).

However, a day after the recently instated prime minister tabled the proposed amendment, the government withdrew the proposal. Industry sources and local media still believe that lawmakers will soon reintroduce the proposed amendments in another bill.

The tax framework created by the proposal would tax the sale of cannabis-light products at 56.5%, the same rate as tobacco. Local marijuana industry association Canapa Sativa Italia notes that this high level of taxation would hamper the development of Italy’s hemp industry. The proposal would also limit places that could sell cannabis-light products to tobacconists with a specialized license. These authorized tobacconists would have to use “authorized tax warehouses” under “supervisory measures,” the proposal stated.

Tax warehouses are buildings in Italy where businesses can store and process imported and domestic products without paying any VAT with the guarantee that the goods will not be sold in the warehouse. Such warehouses keep goods in free circulation and allow businesses to pick up goods without having to go through time-consuming formalities.

Some industry players fear that while these measures will provide a regulatory framework for Italy’s cannabis light industry, they will penalize artisanal producers and small businesses that have been in the game for years. Smaller businesses would have an especially hard time managing tax warehouses and ensuring product quality while in these warehouses.

According to industry association Canapa Sativa Italia, the proposed measures would lead to the growth of a new black market because illicit sellers wouldn’t be subjected to high taxes or strict operating requirements. And major cannabis states such as California have proved that it can be extremely hard to compete with a cannabis black market once it has taken root.

Implementing effective strategies to contain the black market isn’t only beneficial to enterprises that directly deal in marijuana. Others, such as Advanced Container Technologies Inc. (OTC: ACTX), may also see an uptick in business if all industry players are adhering to the same rules or standards.

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

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420 with CNW — Despite Ongoing Challenges, California’s Legal Cannabis Market Remains Huge

Despite facing financial and tax challenges, California’s marijuana industry remains unparalleled as the largest cannabis market globally. According to the recent MJBizFactbook report, the state is projected to generate approximately $5.9 billion in legal medical and recreational cannabis sales in 2023.

To provide perspective, this revenue could sustain the economy of a small island country. For instance, the International Monetary Fund (IMF) estimates that Barbados’s gross domestic product (GDP) will reach $6.1 billion this year. Additionally, the IMF forecasts Fiji’s GDP to be approximately $5.4 billion.

Given California’s colossal cannabis market, its magnitude is not surprising. If California were an independent country, its GDP for 2022, totaling $3.6 trillion, would rank fifth globally, positioned between Germany and India with $4.2 trillion and $3.2 trillion, respectively.

Furthermore, marijuana has become a prominent agricultural product in California, competing with and sometimes surpassing two major crops. In 2022, grape production, renowned for the state’s exceptional wine industry, reached a value of $5.5 billion, followed by almonds at $3.5 billion.

Comparatively, other marijuana markets in the United States pale in comparison to California’s sales. Michigan, the second-largest American marijuana market in terms of sales, is projected to generate only one-half of California’s consumer purchases, amounting to $3.1 billion in combined medical and recreational cannabis sales this year.

Until states with large populations such as New York or Pennsylvania bolster their markets, California is unlikely to face significant competition. This also holds true for countries such as Germany, which have yet to establish legal recreational markets.

While acquiring precise data on international legal cannabis sales is challenging, Canada, arguably the largest legal adult-use market outside the United States, reported recreational sales of just $3.4 billion in 2022.

Meanwhile, a bill to legalize marijuana cafes in California was recently approved by the state’s assembly committee. The measure allows dispensaries to offer noncannabis food and beverages at their locations, subject to local approval. California is also taking steps to broaden the market for marijuana outside of the state. Regulators are asking the attorney general’s office for a formal opinion on whether allowing marijuana commerce across state lines would put California at a heightened risk of federal enforcement action.

The governor approved a statute last year giving him the authority to enter into deals with other legal jurisdictions to import and export marijuana goods. The request for advice from DCC is an important first step that might ultimately result in the law being put into effect.

Companies such as IGC Pharma Inc. (NYSE American: IGC) that are looking to commercialize pharmaceutical-grade medicines from THC will not have to be concerned about laws surrounding interstate commerce in marijuana products because the moment a given formulation gains FDA approval, the makers are free to market it anywhere within the country.

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420 with CNW — Montana Legislators Override Cannabis Tax Distribution Bill Veto

Last week, lawmakers in Montana defied Governor Greg Gianforte’s veto yet again, this time overriding an appropriations bill that contains provisions for directing cannabis tax funds to a program aimed at enhancing habitats. The Montana Wildlife Federation, the Montana Association of Counties and Wild Montana all expressed their approval of the legislature’s decision to override Gianforte’s veto of HB 868, the appropriations bill.

The groups are currently suing the state’s secretary and Gianforte because of the governor’s veto of SB 442. The bill, which enjoyed widespread support, seeks to redistribute revenue from Montana’s cannabis tax toward county road funding, the Wildlife Habitat Improvement Program, the Habitat Montana program and other initiatives. Additionally, it aims to modify the structure established by lawmakers during the 2021 session.

In his veto letter for SB 442, which coincided with the Senate’s adjournment on May 2, 2023, Gianforte criticized the bill for not including an appropriation and therefore rendering it ineffective. However, supporters of HB 868 argued on the day of the veto and in the subsequent weeks that the bill included provisions for appropriating funds to SB 442.

An analysis conducted by the Program Planning and Budget Office confirmed that HB 868 indeed contained an appropriation for SB 442. However, it also noted that the inclusion of this language, along with coordinating amendments, seemed to fall outside the bill’s intended scope. As a result, the amendments and statutory appropriation appeared to be invalid.

Senator Mike Lang, the bill’s sponsor, along with the groups involved in its development, have maintained that the governor’s SB 442 veto was inappropriate. They argue that since the bill was not read on the Senate rostrum before the adjournment vote, legislators should be allowed to attempt an override through a poll.

The Montana Association of Counties filed a lawsuit against Gianforte and Christi Jacobsen, the state’s secretary, on June 7, 2023, seeking a court order to enable the legislature to do a poll override vote or to declare the bill as law due to alleged procedural violations by Gianforte.

The Montana Wildlife Federation and Wild Montana also filed lawsuits against Jacobsen and Gianforte on the same day. Their lawsuit sought the judge to order Gianforte to give Jacobsen the veto so that she could give lawmakers a poll on a veto override.

There is no established hearing date for either lawsuit. According to court documents, the plaintiffs’ lawyers are requesting subpoenas for Jacobsen and Gianforte in both cases.

But the associations expressed their satisfaction with the legislature’s decision to overturn HB 868. To override Gianforte’s veto, the override poll needed two-thirds of the votes in both the House and the Senate, which it received with 72 votes in the former and 35 in the latter. Since the end of the session, lawmakers have overridden four vetoes.

As the recreational cannabis market stabilizes in the state, we could see the mushrooming of various ancillary companies similar to Advanced Container Technologies Inc. (OTC: ACTX) rising up to the opportunity presented by the needs of cannabis firms.

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

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Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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CannabisNewsWire420
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http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.