The rule issued by the Colorado Marijuana Enforcement Division (MED) resulted in 17 product recalls in 2023, the most in the last seven years.

Truman Bradley, executive director of Marijuana Industry Group, which is behind the new legislative push, said the time has come to amend outdated laws and rules.

“The first-ever regulatory model got a lot of things right, but it needs some critical updates,” Bradley said. “It’s still important to prioritize public safety, but after a decade of legal sales, it’s time to look at some agnostic laws and rules that just don’t make sense.”

What's In Senate Bill 24-076

In addition to changes to cannabis testing, the new bill would also:

• Address the issue of the upcoming labeling mandate for THC-infused products made from remediated marijuana;
• Give the green light to dispensaries to sell consumable goods – other than alcohol or tobacco – that don't contain THC, CBD or any extracted cannabinoids; and
• Extend cannabis licensure from one to two years, without any changes in fees.

Bradley emphasized Colorado needs to follow suit and streamline cannabis regulations like Nevada, California, Oregon and Maryland did over the past year.

“This is a trend I expect to continue for the next five years,” Bradley said. “The rulebook for Colorado cannabis is over 500 pages long. The alcohol rulebook is about 130 pages.”

Publicly Traded Cannabis Businesses In Colorado

Cannabis giant Curaleaf Holdings Inc. (OTCQX:CURLF) exited its production and cultivation facilities in the state a year ago, as part of the effort to streamline its business.

Image: Benzinga