Heavily Amended Cannabis Bill Passes Maryland Senate In Preparation For Launch Of Legal Market

As Maryland’s adult-use cannabis market moves closer to its July launch, state regulators are setting up the rules and regulations to make the start smoother. The state Senate Finance Committee on Monday passed a substantially amended bill to regulate recreational marijuana sales, reported The Baltimore Sun.

The committee passed Senate Bill 516 in a 7-2 vote, sending it to the Budget and Taxation Committee for review before the legislation reaches the Senate floor later this week. Meanwhile, the House of Delegates passed another cannabis-related bill, House Bill 556 nearly three weeks ago.

Marylanders overwhelmingly approved cannabis legalization measures during the November midterm elections but have left implementation details to be tackled and decided upon in this session.

“We need to get something along to the governor,” Senate Finance Committee Chair Melony Griffith told her colleagues. 

Amended Bill Highlights 

• The tax rate on cannabis products of 9% starting July 1. 

• Creates an independent Maryland Cannabis Administration separate from the Alcohol and Tobacco Commission. (Both the original legislation and the House Bill proposed it becoming a division within a new Alcohol, Tobacco and Cannabis Administration.)

• Defines THC to include Delta-8, Delta-9 and other delta compounds.

• Removes saving and loans, keeping banks as the only financial institutions allowed to provide services to licensed cannabis businesses.

• Allows standard licenses for up to 300 dispensaries, 100 processors and 75 cultivators. “Micro” operations would be given additional licenses for 200 dispensaries, 100 processors, and 100 cultivators.

• Medical marijuana patients are allowed to cultivate up to four plants for personal use (under the current law they are allowed only two). No taxes on medical marijuana products.

You can watch the entire Senate Finance Committee session in the video below:

Photo: Courtesy of Ndispensable on Unsplash