A bill that opens the door for out-of-state investors and private equity firms to wade into Colorado’s heavily regulated marijuana business waters passed its first lawmaking hurdle Monday.
The Colorado House Finance Committee unanimously approved House Bill 1090, titled “Publicly Traded Marijuana Companies” with a handful of amendments, referring it to the Senate Appropriations Committee.
The law would repeal a restriction limiting out-of-state owners with a stake in a local marijuana businesses to 15 individuals (a term that can include corporations), would do away with the requirement that all “passive” owners of marijuana businesses who do not make decisions about the businesses go through initial background checks and allow publicly traded entities to hold marijuana licenses in the state.
