Clueless California leaders may want to focus more on state issues and less on President Trump.
The regulatory and taxing system that will be needed to govern California’s newly legalized marijuana industry may not be in place by a key deadline next year, imperiling the state’s rush to oversee a booming $7 billion cannabis economy.
Multiple state agencies, including the Bureau of Medical Cannabis Regulation, are scrambling to develop rules for licensing and taxing cannabis cultivators and other businesses in the industry.
But State Sen. Mike McGuire, D-Healdsburg is among those concerned that the legal framework will not be in place by the Jan. 1 deadline set by Proposition 64, the marijuana legalization measure approved by voters three months ago.
“We are not being transparent and honest if we continue to say the state will be fully compliant come January 2018,” said McGuire, whose North Coast district includes the famed Emerald Triangle, where 60 percent of California’s weed is reportedly grown.
At stake is $1 billion in anticipated tax revenue for the state, which needs that money to implement and enforce hundreds of new regulations meant to bring California’s sprawling cannabis industry out of the legal shadows.
Read the whole story in the Press Democrat
Categories: Sacramento Update