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Iowa House members announced legislation Tuesday that would legalize recreational cannabis use and expand the state's current medical marijuana program. The bill will be presented and read into the state House on Wednesday.
If the legislation becomes law, it would make Iowa the 22nd state with legal adult-use programs and would also lower the penalties for cannabis possession and expunge records for non-violent cannabis convictions.
It further proposes placing a 10% excise tax and a 1% local option surcharge on cannabis products. Collected revenue from taxes would be used to support public schools, and mental health institutions and to improve local public safety, writes Daily Iowan.
“We’ve listened to Iowans and heard from people of all parties in all corners of the state who strongly believe it’s time to legalize marijuana,” House Democratic leader Jennifer Konfrst said. “This common-sense bill we’re introducing today isn’t about politics, it’s about people. “Our bill is an opportunity this session to put partisanship aside and work together to get something done that a majority of Iowans want.”
Rep. Lindsey James (D), the House Democrat Whip, highlighted the importance of the measure to create quality and safety standards for marijuana to be sold legally, as many Iowans are already using it from the illicit market.
“With strong support from Iowans and neighboring states that have already approved, it’s time to legalize marijuana for adult use,” James stated at the press conference.
Medical Marijuana
As for the medical marijuana program, the bill proposes the expansion of medical conditions that qualify patients for medical marijuana cards, making it such that anyone with a medical condition that a physician believes could be treated with medical marijuana can qualify.
Medical marijuana sales in the state have been booming, reaching $10.2 million in aggregate across five dispensaries in 2022, representing a huge increase from 2021.
Throughout 2022, the number of active medical marijuana (MMJ) cardholders grew to nearly 15,000 by November, compared to around 7,800 patients in December 2021. Among those 15,000 patients enrolled in the MMJ program, the vast majority (around 10,000) were issued cards to treat chronic pain followed by more than 2,800 post-traumatic stress disorder (PTSD) cardholders.
There’s no doubt that with the expansion of the program, the number of patients will grow, and so will sales.
The measure also proposes record expungements of Iowans convicted of minor non-violent cannabis possession offenses.
All The While, Republicans Are Arguing For The Death Penalty
While Democrats in Iowa are pushing for marijuana reform, at the same time Republicans in the state senate are trying to bring back the death penalty. The Iowa Senate Judiciary committee approved legislation to bring back the death penalty in certain cases in a 10-8 vote Tuesday, writes the outlet. Those cases include convictions for sexual abuse, kidnapping and pre-meditated murder of the same minor victim.
Photo: Benzinga edit with images PublicDomainPictures on Pixabay and 2H Media on Unsplash
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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