How to Pass Cannabis Legalization in the State Budget.

What’s happening? The Governor of Rhode Island is placing legalization in the state budget bill.

Why is this important? The Governor lays out his entire regulatory frame work.  25 marijuana retailers to be licensed each year. Licenses awarded on a lottery system, except 5 licenses are reserved for minority owned businesses. 17% sales tax rate on cannabis sales.

How will this be important? The Governor goes further to divvy up the revenue with 60% going to the state general fund, 25% would cover administrative costs and the remaining 15 percent would go to local governments.

Marijuana Moment | Rhode Island Governor Puts Marijuana Legalization Plan In Budget, Days After Lawmakers File Competing Plan