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Home 🌿 Recreational Marijuana News 🌿 California 2015: New Medical Marijuana Law Rankles Top Cannabis Investor 🌿California 2015: New Medical Marijuana Law Rankles Top Cannabis Investor
California lawmakers quietly passed Friday the state’s most significant medical-marijuana legislation in almost two decades, but some leaders in the space worry that the law’s good intentions could get lost in the weeds. Paving the way for what supporters say is a much-needed regulatory framework for the state’s multibillion-dollar medical-cannabis industry, the California Senate and Assembly voted to approve the historic Medical Marijuana Regulation and Safety Act, which will require licenses for cannabis dispensaries and create a new state agency to oversee the industry.
Although California residents voted to approve medical marijuana back in 1996, a regulatory plan has until now eluded policymakers, who could not seem to agree on specifics. Legislators finally reached a compromise on three bills, which have been sent for final approval to Gov. Jerry Brown, who is expected to sign them into law. The legislation was approved as part of a comprehensive...
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