Once, the cannabis industry was poised to become a multibillion-dollar industry in California. Now, it could be heading for what its advocates call an “extinction event.”
An estimated 10,000 marijuana growers could lose their licenses in the coming months if California lawmakers fail to pass a bill designed to grant them an extension, according to Sen. Mike McGuire, D-Healdsburg, who has sponsored Senate Bill 67.
“The bottom line is this: This bill is going to protect thousands of cannabis farmers, in particular, who did the right thing and applied for a state license after the passage of Prop. 64 but their temporary license is about to expire,” McGuire said in a hearing on his bill.