Among this week’s don’t-miss headlines, the Drug Enforcement Administration (DEA) suggested that the government vastly increase the amount of cannabis that can be legally grown in the U.S. for research purposes. Elsewhere, the industry’s banking issues extended to a politician when Wells Fargo terminated its relationship with Florida agriculture commissioner candidate Nikki Fried, citing funds her campaign received from cannabis donors.
Here, we’ve rounded up the 10 headlines you need to know before this week is out.
- Federal: In a new Federal Register filing set to be published soon, the Drug Enforcement Administration (DEA) is moving to dramatically increase the amount of cannabis that can legally be grown in the U.S. for research purposes—from roughly 1,000 pounds in 2018 to more than 5,400 pounds next year. The agency is also pushing to reduce the amount of certain opioid drugs—such as oxycodone, hydrocodone, morphine and fentanyl—that are produced in the U.S. Read more
- The cannabis industry’s banking issues extended to a political candidate earlier this month, when Wells Fargo severed ties with Nikki Fried, a Democrat running for agriculture commissioner in Florida, citing donations she received from the cannabis industry. Wells Fargo ended its banking relationship with Fried Aug. 3 due to “a ‘political platform’ that included advocacy for ‘patient access to medical marijuana,’” according to a press release on Fried’s campaign website. Read more
- Nevada: A proposed law for the 2019 Nevada legislature could prove to be a remedy for what is seen as one of the biggest issues facing the booming cannabis industry in the Silver State: access to banking. The proposal comes from Senate Judiciary Committee, currently chaired by state Sen. Tick Segerblom, and would create a state-chartered bank where privately insured institutions would be licensed to handle money from marijuana businesses. Read more
- Louisiana: The Louisiana Department of Agriculture and Forestry gave the LSU Ag Center and GB Sciences the final OK Aug. 17 to start growing Louisiana's first legal crop of medical marijuana. LSU AgCenter and Southern University Ag Center are the two designated locations in Louisiana legally allowed to grow medical marijuana, and production of the plant has been held up in recent weeks by the approval process required by the LDAF. Read more
- Oklahoma: Oklahoma's somewhat disparate marijuana advocacy groups have agreed on proposed medical marijuana legislation to fill gaps in State Question 788. The proposed 202-page bill is largely based on model legislation drafted by New Health Solutions Oklahoma, a group representing more than 90 businesses interested in the medical marijuana industry. Read more
- An initiative petition that would have asked voters whether recreational marijuana should be legalized has failed to garner enough signatures to make a ballot. The petition drive for State Question 797 gathered 102,814 signatures, according to Oklahoma Secretary of State James Williamson, and was required to gather 123,725 signatures to make the ballot. Read more
- Michigan: A group of 10 lawmakers and officials in two cities have taken up the cause of medical marijuana businesses by asking Gov. Rick Snyder to extend a Sept. 15 deadline for the businesses to either get licensed by the state or shut down. The deadline has already been extended twice by the state Department of Licensing and Regulatory Affairs because the process for getting a license to grow, transport, test and sell medical marijuana in the state is taking so long. Read more
- California: A bill requiring California prosecutors to erase or reduce tens of thousands of marijuana criminal convictions was approved by the state legislature on Wednesday and now awaits Gov. Jerry Brown's signature. The bill orders the state Department of Justice to identify eligible cases between 1975 and 2016 and send the results to the appropriate prosecutor. Read more
- Massachusetts: After weeks of concerned headlines and industry questions, the Massachusetts Cannabis Control Commission approved the first two independent testing lab provisional licenses for the state’s adult-use market. Retail sales, originally set to begin July 1, are now a bit closer to reality. Read more
- New Jersey: The state attorney general's office will soon announce that it will not seek to extend a statewide adjournment of marijuana possession cases in municipal court when an order expires on Sept. 4th, according to two people with knowledge of the decision. Instead, the attorney general's office will issue guidance to New Jersey's local, municipal and county prosecutors informing them that while marijuana possession remains illegal, they may exercise discretion and decide not to prosecute some simple possession cases. Read more
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