With marijuana legalization on the table, many CT lenders may sit on the sidelines – Hartford Business Journal
An emerging industry with 50,000 customers and tens of millions of dollars in annual revenue would be attractive for most banks and credit unions. Except if it’s the state’s medical marijuana industry. Of the 146 banks and credit unions operating in the state, a mere five — three banks and two credit unions — are banking licensed marijuana operators, and to a limited extent, mainly focused on deposit services and cash management rather than loans, according to an industry expert. Strict and costly compliance measures to ensure institutions don’t run afoul of federal law, which still deems marijuana to be…
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With marijuana legalization on the table, many CT lenders may sit on the sidelines – Hartford Business
An emerging industry with 50,000 customers and tens of millions of dollars in annual revenue would be attractive for most banks and credit unions. Except if it’s the state’s medical marijuana industry. Of the 146 banks and credit unions operating in the state, a mere five — three banks and two credit unions — are banking licensed marijuana operators, and to a limited extent, mainly focused on deposit services and cash management rather than loans, according to an industry expert. Strict and costly compliance measures to ensure institutions don’t run afoul of federal law, which still deems marijuana to be…
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Connecticut Poll Shows Majority Support For Marijuana Legalization And Expungements As Lawmakers Consider Reform – Marijuana Moment
Ohio activists have collected enough signatures to force the legislature to take up the issue of marijuana legalization, the secretary of state’s office confirmed on Friday. This comes about two weeks after the Coalition to Regulate Marijuana Like Alcohol (CTRMLA) submitted a final round of signatures for the measure. The petitions’ formal validation triggers the legislative review of legalization, but it does not require lawmakers to enact the reform. The legislature now has four months to consider the campaign’s cannabis reform proposal. Lawmakers can adopt the measure, reject it or pass an amended version. If they do not pass the…
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Connecticut Marijuana Hearing Shows Governor’s Legalization Bill Likely To Be Amended After Equity Pushback – Marijuana Moment
Caregivers say the lobbying efforts come down to a lack of understanding and greed. By Marla R. Miller, Michigan Advance Medical marijuana caregiver Ryan Bringold has been involved in Michigan’s grassroots efforts to legalize cannabis for years. But as larger licensed recreational and medical cannabis grow facilities and provisioning centers crop up across Michigan, caregivers like Bringold who helped legalize marijuana feel they are being pushed out. A small group of corporate activists want to tighten state restrictions for medical caregivers and patients. The goal: Cut plant counts, require product testing and reduce homegrown cultivation. Bringold, 49, who lives in…
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Connecticut Governor Touts Marijuana Legalization Bill Ahead Of First Hearing – Marijuana Moment
At a press conference on Wednesday to build support for his plan to legalize marijuana in Connecticut, Gov. Ned Lamont (D) and other backers described the proposal as a thoughtful, data-driven measure designed to address decades of disproportionate harm to the state’s Black and brown residents. While the bill is set for its first committee hearing on Friday, some social justice advocates have deep concerns about how the legal market would be structured. “This has been a long time coming,” the governor said of his proposal. “We’ve been talking about this for ages, and I think now is the time…
Read More »Medical marijuana in Connecticut has problems. Legalizing adult recreational use can fix them – The CT Mirror
Connecticut has gotten right most aspects of its medical marijuana program, but some parts are broken. Legalizing adult recreational use of cannabis can fix what’s broken and can prevent from breaking what’s fixed. Mark Mathew Braunstein What’s working? Its ballooning rosters of patients, physicians, and dispensaries are hallmarks of a successful program. So let’s look at those numbers. Medical marijuana (MMJ) was legalized here in 2012. By 2015, 4,914 patients had registered. In 2017, that mushroomed fourfold to 22,279. Last June, that nearly doubled to 41,292. As of January, 49,721 total. That means one of every 75 Connecticut residents is…
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Connecticut Governor Includes Marijuana Legalization Plan In Budget Proposal – Marijuana Moment
The governor of Connecticut released a budget request on Wednesday that includes a plan to legalize marijuana. But while the proposal places an emphasis on social equity, advocates are expressing expressing concerns about the lack of specifics so far. Gov. Ned Lamont (D), who convened an informal work group in recent months to make recommendations on the policy change, said his budget plan will involve establishing a “comprehensive framework for the cultivation, manufacture, sale, possession, use, and taxation of cannabis that prioritizes public health, public safety, and social justice.” “The proposal builds on the significant work that the Legislature has…
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Lamont wants recreational marijuana to be for sale in Connecticut in 2022; revenue would assist distressed cities and towns. Homegrown would not be legal. – Hartford Courant
“Our bill truly looks at a thorough accounting of the damage done by the war on drugs, which I like to refer to as the war on black and brown people,” said Rep. Robyn Porter, D-New Haven, who co-chairs of the legislature’s labor committee. “It’s not just about revenues, which in Black and brown communities, we’re calling ‘reparations’ … but it is also about making sure that as we legalize recreational cannabis, we are not creating loopholes for further criminalization.”
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