Tracking Cannabis

Thompson Coburn LLP has released its latest state-by-state ranking of state cannabis regulations. The guide provides a holistic review of the current cannabis laws in every state including the District of Columbia, from favorable to cannabis businesses to most restrictive. This is the fourth year for the report and it is researched and produced by

On August 11, 2020, the California Senate Banking and Financial Institutions Committee will hold a hearing on Assembly Bill 1525. The bill, which passed in the Assembly 68-1, protects financial institutions who provide services to licensed cannabis businesses and increases the viability of these relationships.
A.B. 1525 performs two major functions. First, it clarifies that

On June 29, the Financial Crimes Enforcement Network (“FinCEN”) provided additional guidance for financial institutions that monitor hemp-related companies (the “Guidance”). Such Guidance provides a clarification that “is intended to enhance the availability of financial services for, and the financial transparency of, hemp-related businesses in compliance with federal law.”
As background, the Guidance explains that

The viability of many California cannabis delivery businesses may be at stake next month as a landmark lawsuit brought by local municipalities against the Bureau of Cannabis Control (“BCC”) heads to trial. Last year, the County of Santa Cruz and 24 other California cities sued BCC and its Chief, Lori Ajax, to overturn a BCC

On August 9, 2019, Illinois Governor J.B. Pritzker signed into law Illinois Senate Bill 2023, which amends and makes permanent the State’s pilot medical cannabis program (the “Compassionate Use of Medical Cannabis Pilot Program Act” or “MCPPA”). The amendment will result in an expansion in the number of patients in Illinois who qualify for treatment

On June 25, 2019, Illinois Governor J.B. Pritzker signed into law the Illinois Cannabis Regulation and Tax Act (“CRTA”), making recreational cannabis use legal for adults 21 and older. Additionally, the CRTA addresses the following topics relevant to facilities currently operating under Illinois’ 2013 Compassionate Use of Medical Cannabis Pilot Program Act (the “MCPPA”):

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