Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana.
Let’s start, as we so often do, with the states. Nebraska has decided against legalizing medical marijuana. Texas is moving towards legalizing hemp. Iowa is one step ahead of them – hemp cultivation will begin in 2020.
Delaware lawmakers have introduced a recreational legalization bill, but since the governor is opposed, that doesn’t seem terribly likely to succeed. And speaking of Delaware, Presidential candidate Joe Biden (D – Del.) has come out in favor of decriminalizing marijuana but has not indicated support for legalization.
From the “here we go again” files, New York has a new marijuana legalization bill to consider. Meanwhile, in New Hampshire, a marijuana legalization bill has been sent back to committee for further study.
The big news on the federal level is the number of comments on CBD products and how they should be regulated. 737 as of Wednesday morning, and with the deadline set for early July, there will doubtless be many more. In other federal news, Treasury Secretary Mnuchin has said he’s open to the idea of legal cannabis banking, but does not think marijuana businesses should be eligible for opportunity zone tax breaks.
Banking is one of our favorite topics; this week we learn that California is considering the creation of special banks to handle marijuana income. But it’s not just the Golden State that wants cannabis banking; all 50 state banking associations have signed on to a letter to the U.S. Senate urging the legalization of banking services for marijuana businesses where they are legal.
See you next week!