Pennsylvania cannabis business tax fix heads to governor (Newsletter: October 11, 2024)

NH marijuana veto override fails; Fed gun & cannabis ban court hearing; NE initiative economic impact; Baltimore marijuana fund vote; CBD for wounds

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/ TOP THINGS TO KNOW

The U.S. Court of Appeals for the Fifth Circuit held oral arguments in a case challenging the federal ban on gun possession by marijuana consumers. The dispute was set to go before the Supreme Court but was remanded back for reconsideration in light of recent rulings in a separate Second Amendment case.

Pennsylvania lawmakers sent Gov. Josh Shapiro (D) a bill to fix an oversight in a previously passed marijuana industry tax relief law that excluded dispensaries from a partial workaround to the federal 280E penalty on cannabis businesses.

New Hampshire lawmakers sustained Gov. Chris Sununu’s (R) veto of a bill to let medical cannabis companies open additional cultivation locations—including greenhouses. The House voted to override but the Senate did not.

Medical cannabis legalization initiatives on Nebraska’s November ballot would generate more than $925 million in new economic activity for local communities across the state by 2030, according to a new analysis from Vicente LLP.

Baltimore, Maryland voters will decide on a November ballot measure to create a city fund to support communities disproportionately impacted by marijuana criminalization, with the money coming from tax revenue generated by legal cannabis sales.

A new scientific review finds that “cannabis oil, especially its primary bioactive constituents, CBD and THC, demonstrates considerable potential in facilitating skin wound healing” due to “antibacterial and analgesic properties” that “contribute to reducing the microbial load and minimizing the complications associated with chronic wounds, thereby enhancing the overall healing efficacy.”

• “CBD’s therapeutic effects in wound healing are largely attributed to its antioxidant, anti-inflammatory, and antimicrobial properties.”

The South Dakota Supreme Court heard oral arguments in a case where a medical cannabis company is challenging regulators’ decision to charge additional licensing fees to open another location.

/ FEDERAL

Sen. Eric Schmitt (R-MO) said she supports passing a “clean version” of marijuana banking legislation without other issues attached to it.

Rep. Andy Harris (R-MD) tweeted, “Legalization of recreational marijuana is just a bad idea – plain and simple. Why would we want to do this to our youth?”

Arkansas congressional candidates discussed marijuana banking during a debate.

/ STATES

The Kentucky legislature’s Administrative Regulation Review Subcommittee will consider medical cannabis and hemp rules on Tuesday.

The Florida campaign working to defeat the marijuana legalization initiative on the November ballot released two new ads.

California regulators announced a recall of cannabis vape products due to potential adulteration.

Maryland officials are canceling debt for outstanding release supervision and drug testing fees for people who are under the supervision of the Division of Parole and Probation.

Washington State regulators are considering changing rules to allow marijuana business employee stock ownership plans, and separately approved rules concerning products containing THC.

Massachusetts regulators fined Ascend Wellness and Curaleaf for alleged violations.

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/ INTERNATIONAL

Ukraine’s Cabinet of Ministers introduced changes to medical cannabis tracking rules.

/ SCIENCE & HEALTH

A study found that “medical cannabis use is prevalent among young adults with cancer, with many continuing to use it during survivorship and after completing cancer treatment.”

A review concluded that “psilocybin has been shown to be safe in clinical trials with manageable side effects.”

/ ADVOCACY, OPINION & ANALYSIS

The Nevada Democratic Party criticized Republican Senate candidate Sam Brown for failing to respond to a Marijuana Policy Project questionnaire.

/ BUSINESS

Tilray Brands, Inc. reported quarterly net revenue of $200 million and a net loss of $34.7 million.

RIV Capital Inc. and Cansortium Inc. received approval from New York regulators for a merger.

Grown Rogue International Inc. announced the termination of its advisory agreement with Vireo Growth Inc.

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Photo courtesy of Chris Wallis // Side Pocket Images.