MJBizMag August 2021 - 34

IndustryDevelopments | International & State
Vermont
Gov. Phil Scott signed a bill into law to establish a fund to help people of color
and others impacted by the war on drugs to open licensed cannabis companies.
Senate Bill 25 sets aside $500,000 from the state coffers to establish a marijuana
business-development fund that is slated to provide financial assistance, loans,
grants and outreach to social equity business applicants. The new law also:
* Establishes regulations for how marijuana retailers can market their products.
* Gives municipalities control over whether they allow marijuana stores.
* Sets aside a portion of tax revenue for substance-abuse prevention programs.
* Requires store owners to buy 25% of their cannabis flower from licensed
small cultivators.
Virginia
A government watchdog group is recommending the state move up the timeline
for implementing a recreational marijuana market. The Joint Legislative Audit and
Review Commission issued a report suggesting that the Virginia Cannabis Control
Authority, a new state agency, start accepting cannabis retail applications and
implementing the program at the beginning of 2023 rather than July 2023. Adultuse
marijuana sales in Virginia currently are scheduled to begin Jan. 1, 2024. The
report also recommends that the regulatory agency set limits on some cannabis
products such as vapes and edibles.
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34 MJBizMagazine | August 2021

MJBizMag August 2021

Table of Contents for the Digital Edition of MJBizMag August 2021

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