The SAFE Banking Act is no longer in the National Defense Authorization Act and therefore will not pass in this Congress. For weeks, both industry sources and Congressional sources have been predicting that SAFE would pass in the lame duck session. As late as this past Friday, we heard from two different sources who attended a meeting with Democratic SenateContinue Reading SAFE Banking Is Not Safe
Stanley Jutkowitz is the editor for The Blunt Truth®, as well as a Corporate senior counsel in the Washington, DC office and chair of Seyfarth's Cannabis Law practice group. Stan was named a 2020 “Trailblazer” for Cannabis Law by the National Law Journal.
It has already been a busy year for marijuana law! Catch up on key legislative, regulatory, and legal developments affecting the manufacture, distribution, sale, and use of marijuana occurring in 2022, including key decisions and regulatory material.
|May 26, 2022||Governor Kevin Stitt signed legislation enacting a moratorium on some new medical marijuana licenses, effective on August 1,|
Happy New Year and welcome back as The Blunt Truth begins its seventh year of publication.
Last month I was on a panel at CannaVest West, the cannabis business summit held in San Francisco. This was held in the days just before the Omicron variant dominated the news, so was reasonably well attended by industry professionals. I would like to…
Continue Reading The Buzz at CannaVest West
During the last two weeks, the U.S. House of Representatives passed two bills aimed at reforming marijuana laws, the Marijuana Opportunity, Reinvestment and Expungement Act (MORE Act) and the Medical Marijuana Research Act (MMJ Research Act). Since neither bill will be considered by the Senate in the present session of Congress, they will have to be reintroduced and pass both…
Continue Reading The House Passes the MORE Act and the Medical Marijuana Research Act. Will It Matter?
THC, CBD, CBN…the Cannabis industry is quite familiar with acronyms. But it’s another nasty little four letters, TCPA, that are – or should be – on the top of mind for every dispensary, delivery service, CRM platform, and private equity holding company. This as the US Supreme Court decides what the byzantine 30-year-old law will look like following a landmark decision expected by the end of June or July.
Continue Reading Mass Texts: How the Cannabis Industry Must Deal with the Surge of TCPA Class Actions During Covid-19
Recently, I had the opportunity to moderate panels on cannabis and commercial real estate at programs held in Los Angeles and Chicago. I won’t say it was the best of times or the worst of times, but I will say “it was the age of wisdom; it was the age of foolishness.”
It was interesting to compare the programs and the audiences in the two cities. In Chicago, where medical marijuana has been legal since 2014, and recreational marijuana has been legal for just over a month, people from many facets of the real estate industry — brokers, architects, contractors, real estate owners — came to learn about the new opportunities and pitfalls of the cannabis industry. To be sure, some were experienced, having participated in the medical marijuana business, but others were, well, naïve about how pervasive local, state and even federal laws are in regulating cannabis use of commercial real estate.
In LA, where medical marijuana has been legal forever and recreational for three years, the commercial real estate industry has had enough experience with the cannabis industry to experience the impact of various laws and regulations on commercial real estate. The audience came prepared to hear about how the cannabis and commercial real estate industries were addressing some of the issues resulting from the intersection of the industries.
Here are some key takeaways from the two panels:…
Continue Reading Tale of Two Cities: Cannabis and Commercial Real Estate
If you are in the cannabis industry, you should already know Section 280E of the Internal Revenue Code. It consists of only one sentence:
No deduction or credit shall be allowed for any amount paid or incurred during the taxable year in carrying on any trade or business if such trade or business (or the activities which comprise such trade…
Yesterday, the House of Representatives passed H.R. 1595, the Secure and Fair Enforcement Banking Act (SAFE Act), by a vote of 321-103, with 90 Republicans voting in favor of the bill. Some have hailed the bill as a panacea for banking cannabis related businesses (CRBs). While this post is not intended to be a comprehensive analysis of the SAFE…
Continue Reading SAFE Act Passes in the House, But…
Last week, several members of Seyfarth’s cannabis practice attended CannaVest West and the Cannabis Business Summit & Expo. Industry expert panels discussed market trends, private equity, venture capital, family offices, and banking, as well as commercial real estate, which I had the opportunity to moderate.
Of interest to TBT readers, a few key takeaways from the event include:
Continue Reading Cannabis Industry: The Latest Takeaways
The District of Columbia is one of only two jurisdictions (the other is Vermont) which have legalized possession of recreational marijuana but where sales remain illegal. Wait, what? That’s correct; in your nation’s capital, you can use recreational MJ, but you can’t buy or sell it. …
Continue Reading DC Mayor Begins Effort to Legalize Recreational MJ Sales