This state could start selling adult-use cannabis by July, under a new bill

By John Schroyer

The start date for Maryland’s upcoming adult-use cannabis market could be as early as July 1, under the terms of a new bill introduced by state legislatures.

Although some industry watchers had expected it to take several years to get to market after November’s election victory, lawmakers felt pressure to get the recreational market going again once ownership becomes legal in July to avoid a massive gray market, reported WYP News.

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“We’ve seen what’s happened in places like New York where there are over 1,400 unlicensed pharmacies,” US Senate President Bill Ferguson told WYPR News. “The idea of ​​having a well thought out marketplace has really evaporated in New York because it took so long to get legal licensing.”

Ferguson, one of the supporters of the new Maryland law, said he hoped it would become a “national model.”

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Senate Bill 516 was introduced by Democratic Sens. Brian Feldman and Antonio Hayes, and Democrats control both houses of the legislature and the governor’s mansion, meaning there’s no reason if the party can agree on how the industry does to be structured A draft law to implement recreational sales could not be passed quickly this year.

SB 516 allows for 300 retailers, 100 processors, 75 growers, an unspecified number of “microlicenses” and 15 consumption lounge permits, WYPR News reported. The bill would tax recreational cannabis at 6%.

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The bill also creates a new Office of Social Justice to ensure entrepreneurs of color get a solid stake in the new industry.

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Existing medical marijuana businesses could transition directly to selling recreational products as long as they pay a fee ranging from $100,000 to $2.5 million depending on sales levels, WYPR reported.

A market estimate shared with lawmakers says recreational sales in Maryland could reach $240 million a month “pretty quickly” after launch, said Michael Sofis, director of research at Cannabis Public Policy Consulting.

This article originally appeared in Green Market Report and has been republished with permission.