IRS Advice for the “Fast Growing” Cannabis Industry (Newsletter: September 29, 2021)

House officials send marijuana banks to the Senate; Federal Government Funding Study on Psilocybin Smoking Cessation; FBI Changes Cannabis Policy Again

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/ THINGS TO KNOW

The House of Representatives formally passed the National Defense Authorization Act, which contains provisions relating to marijuana banks. But the way forward in the Senate is complicated, with key lawmakers indicating they are not in favor of the move.

The Federal Bureau of Investigation, which relaxed its marijuana policy for agent candidates earlier this summer, recently added an arbitrary new restriction: Anyone who has used cannabis more than 24 times as an adult is disqualified.

Mississippi lawmakers have reached a deal on medical cannabis legislation to replace the voter-approved measure that was overturned by the state’s Supreme Court, and they will ask Gov. Tate Reeves (R) for a special session as early as Friday. In a related development, the Agriculture and Trade Commissioner told lawmakers in a letter that he did not want to participate in the regulation of medical marijuana as long as it remains illegal at the federal level.

The National Institute on Drug Abuse funds research to find out if psilocybin can help people quit smoking.

  • “To my knowledge, this is the first US government grant in over half a century to directly study the therapeutics of a classic psychedelic.

/ FEDERAL

The Ministry of Health and Social Services said a study it funded on differences in opioid-related outcomes among pregnant and parental women in states with and without medical cannabis laws has been submitted to a scientific journal for publication.

Senator Jeff Merkley (D-OR) spoke in a floor of the Senate speech on the role of an outgoing staff member in the development of cannabis legislation.

Representative Mike Garcia (R-CA) tweeted, “A few months ago, the largest illegal drug seizure in LA County history was in # CA25. While progress has been made in tackling the illegal cultivation of marijuana, there is still work to be done to eradicate this problem. I promise to keep working to fight this problem.

Pennsylvania Democratic Senate Candidate John fetterman, currently lieutenant governor of the state, spoke of the reluctance of the two main parties to adopt marijuana reform.

Kentucky Democratic Candidate for Congress Guillaume Compton tweeted, “Here’s something that hasn’t been talked about lately: marijuana. It must be legalized. The revenues alone would create a huge boost to KY’s economy. Tobacco is our cash crop, it’s time to add some marijuana!

/ STATES

Florida Members of the Senate Agriculture Committee lobbied regulators over the lack of medical cannabis licenses granted to black farmers.

Oklahoma regulators are being sued for revoking licenses to grow medical cannabis.

Montana regulators have given lawmakers an update on the wording of the marijuana rules. They too revealed this regulation will ban the sale of hemp-derived CBD in marijuana dispensaries.

A new Washington state The policy will take effect next month and will make it easier for people with criminal records to participate in the marijuana industry.

a Ohio The representative who is sponsoring a marijuana legalization bill tweeted that he had been referred to the House finance committee and was pushing for a hearing to be scheduled.

Missouri Regulators said some medical cannabis products had been put on hold in the state’s tracking and tracing system “inadvertently.” Meanwhile, the state now has spent over $ 6.7 million to defend against legal challenges to licensing decisions.

from Maryland The Medical Cannabis Commission has met.

Nevada regulators will discuss trade issues related to marijuana on Tuesday.

New Jersey Regulators will host a marijuana rules webinar on Tuesday.

Maine Regulators will convene the first meeting of the new medical marijuana task force on Tuesday.

Michigan regulators will hold a quarterly meeting on marijuana issues on Wednesday.


Marijuana Moment is already following more than 1,200 cannabis, psychedelics and drug bills in state legislatures and Congress this year. Patreon supporters by pledging at least $ 25 / month, access our interactive maps, charts and audience calendar so they don’t miss any development.

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/ LOCAL

Missoula County, Montana officials held a meeting to explain a marijuana tax ballot measure.

/ INTERNATIONAL

Scotland Lord Advocate announced a plan to To allow police to issue warnings for Class A drugs instead of making arrests.

Canadian retailers sold C $ 338.9 million worth of legal marijuana in July.

/ SCIENCE & HEALTH

A study found that “the Ohio medical marijuana prices continues to generate dissatisfaction ”with the state program.

/ ADVOCACY, OPINION & ANALYSIS

The Association of Cannabis Regulators sent comments on federal marijuana legalization provisions to senators.

The Oklahoma Sheriffs Association, Oklahoma Dairy Farmers Association and other groups sent a letter asking regulators to impose a moratorium on the issuance of new medical cannabis cultivation licenses.

NBC Brian williams made a joke about on-air marijuana.

/ BUSINESS

Cresco Labs Inc. acquires Bay, LLC d / b / a Cure Pennsylvania.

Green Market Report is in the process of being acquired by Crain Communications.

Investors in Civilized hunt the founders of the company.

Many unlicensed marijuana dispensaries now operate on the St. Regis Mohawk reserve located in New York.

Eaze launched a program to bring medical cannabis free to low-income patients.

Biscuits launched a new product that combines THC and non-psychedelic mushrooms.

The Style book of the associated press tweeted: “THC is acceptable in all references to tetrahydrocannabinol, the compound that gives marijuana its high effect. CBD is suitable for cannabidiol, a compound in cannabis that does not cause euphoria and is often sold as a dietary supplement or included in creams and other personal care products.

/ CULTURE

Clint eastwood won a court case against the CEO of Norok Innovation Inc., who, according to the actor, hijacked his name to falsely make people believe that he endorsed his CBD products.

PBS Nova will air an episode on the science and criminalization of cannabis on Wednesday.

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Photo courtesy of Chris Wallis // Side pocket images.

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