New Michigan Medical Marijuana Law Goes Into Effect December 20th
In September, Governor Rick Snyder signed three new medical marijuana (MMJ) regulations into law, which are expected to take effect on December 20th.
These laws include:
Public Act 281 (previously House Bill 4209) – creates the Medical Marihuana Facilities Licensing Act to license and regulate the growth, processing, transport and provisioning of MMJ. The House approved it 83-22.
Public Act 282 (previously House Bill 4210) – amends the voter-initiated Michigan Medical Marihuana Act to allow for the manufacture and use of marijuana-infused products by qualified patients. The House approved it 93-12.
On December 4th, the Michigan Cannabis Business Development Group held a conference to review the rules, limits, and boundaries for the cultivation and sale of MMJ in the state of Michigan. The event was an effort to help to bring industry professionals up to speed, since the framework itself is still very much a work in progress.
Michigan could soon become a major player in the legal cannabis space. Some market analysts claim that Michigan’s MMJ industry could rake in over $63 million annually, and by 2020 it could be the third largest (MMJ) market in the U.S., with $556 million in annual revenue.
While many see the potential for a bountiful market in Michigan, others are concerned that the state’s regulatory methods are inherently flawed. In fact, there are several cannabis advocates that fear certain regulations may do more harm than good.
Paul Armentano, the deputy director of NORML, is concerned that the proposed taxation practices could stunt industry growth. “The notion is, what we do not want to do is attach so many fees associated with the legal market that that market can no longer compete with the illegal market.”
The ‘Michigan Medical Marihuana Program’ is administered by the Michigan Department of Licensing and Regulatory Affairs (LARA), who will be responsible for developing and implementing various regulations for the cultivation, sale, possession, transportation, and disposal of MMJ. We’ll have a much better idea of what Michigan’s new MMJ market will look like once LARA finalizes regulations.
Click here for more information on cannabis compliance in the state of Michigan.
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