State elections are now less than a month away, with voters hitting the polling booths on November 3. Get ready to see new states legalize cannabis programs! Arizona, New Jersey, Montana, and South Dakota will vote on adult-use legalization, and Mississippi and South Dakota will vote on medical cannabis legalization.
New Jersey legalization is expected to spark a domino effect of cannabis legalization along the East Coast, and Montana could raise up to $52 million in cannabis tax revenue - check out the latest!
NATIONAL HIGHLIGHTS
New Jersey Legalization Expected To Ignite East Coast Domino Effect
New Jersey voters will make their long-awaited decision on adult-use marijuana legalization next month when they hit the polls on November 3. It’s almost sure to pass, with a recent poll by DKC Analytics showing that 68% of respondents will vote in support of the measure. The legalization is expected to create a domino effect along the East Coast, with industry experts predicting that Pennsylvania, New York, and Connecticut will be sure to follow. The result will be an adult-use marijuana region that is among the biggest in the world. (Marijuana Business Daily)
STATEWIDE CHATTER
Arizona
A new survey conducted last week by Strategies 360 found 57 percent of respondents would back the adult-use marijuana initiative, while 38 percent said they would not. The survey consisted of interviews with 600 registered voters in Arizona. In contrast to some recent public polling, this survey presented voters with the full language that will appear on the state's general election ballot. A separate survey conducted in July by OH Predictive asked 600 registered voters in Arizona if they supported legalizing adult-use marijuana, and 62 percent said yes, while 32 percent opposed. State voters will officially decide on adult-use legalization next month. (AZ Marijuana)
California
Gov. Gavin Newsom signed a bill into a law that will give the cannabis industry a tax break by prohibiting the California Department of Tax and Fee Administration from adjusting the cannabis excise tax markup amount until July 1, 2021. Additionally, the bill prohibits the cultivation tax rates for the 2021 calendar year from being adjusted for inflation. This will give cannabis businesses an opportunity to establish their budgets and understand their tax liabilities for the next year. California is always accepting applications, but opportunities vary based on the city or county in which you are interested. (The Sacramento Bee)
Delaware
The Office of Medical Marijuana issued a Request for Proposals on September 2 to license four additional compassion centers in the state. There is a non-refundable application fee of $5,000, and successful applicants will need to pay an initial certification and bi-annual fee of $40,000. Applications are due on October 28, 2020. (Marijuana Moment)
Montana
According to a new report by the Bureau of Business and Economic Research (BBER), if Montana voters approve the adult-use cannabis legalization ballot initiatives next month, it could raise up to $52 million in tax revenue for the state. BBER assessed the way adult-use marijuana markets began and evolved in states that have legalized to inform the report. (Post Register)
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