California poised to increase lifespan of provisional licenses for cannabis companies

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The California Legislature on Thursday gave the ultimate go-ahead to a finances trailer invoice that may, amongst different issues, lengthen the lifespan of provisional enterprise licenses for cannabis corporations till 2022.

The measure, Meeting Invoice 97, was accepted simply by the meeting on a 57-11 vote after it handed the Senate on Monday. The invoice now heads to Gov. Gavin Newsom, who is anticipated to signal it.

Provisional licenses had been created by the Legislature final 12 months as a stopgap measure for marijuana companies that encountered prolonged lag occasions within the awarding of full annual enterprise permits. Each authorized operator should finally receive a full annual allow.

Creation of the provisional licenses didn’t fully remedy the issue, nonetheless, and the cannabis trade sounded the alarm earlier this 12 months as short-term licenses started expiring and threatened to place a lot of the authorized provide chain on maintain.

Lindsay Robinson, government director of the California Hashish Trade Affiliation (CCIA), hailed the passage of AB 97 as “vital” for marijuana corporations making an attempt to stay compliant with state legislation.

“1000’s of cannabis operators noticed their short-term licenses fall into expiration because of intensive processing of annual licenses by state businesses,” Robinson wrote in an electronic mail to Marijuana Enterprise Every day.

“CCIA encourages the Newsom administration to prioritize elevated collaboration with the cannabis trade, the Legislature and the regulatory businesses to be able to create a complete plan that may streamline enterprise operations, prioritize public security and well being and decrease the rising illicit market.”

John Schroyer could be reached at [email protected]

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