California’s new cannabis economy has been valued at 7 billion according to the Los Angeles Times.
The following are important highlights from the LA Times article:
“In November, California joined a growing number of states in legalizing recreational marijuana use for adults. In general, the state will treat cannabis like alcohol, allowing people 21 and older to legally possess up to an ounce of pot and grow six marijuana plants at home.”
“The law kicks in Jan. 1, 2018, but many communities already turn an indifferent eye toward pot smoking and local cultivators.”
“The new law calls for nearly 20 different types of licenses, including permits for farmers; delivery services that will take pot to a buyer’s front door; testing labs; distributors; and dispensary operators at the retail level.”
“Part of the job heading toward the start of next year falls to other agencies, including the Food and Agriculture Department, which will issue licenses for cultivators.”
“Earlier this month, Gov. Jerry Brown proposed spending more than $50 million to establish programs to collect taxes and issue licenses while hiring dozens of workers to regulate the industry, a figure some say is too low. His office stresses that one regulatory framework is needed, not separate ones for recreational and medical cannabis, even though there are laws for each that could duplicate costs and confuse businesses.”
“One of the new law’s requirements calls for the state to develop a computerized system to track cannabis, sometimes called “seed-to-sale” monitoring. It’s envisioned that scanners will be used to keep tabs on pot as it moves from the leafy raw product to street-level sales.”
By: Ilse Cervantes, January 30, 2017
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