Today, the Assembly and Senate Appropriations Committees met and decided the fate of hundreds of bills including several that directly impact the cannabis industry. Here’s a run down of the most watched cannabis-related bills in the California State Legislature that were heard in one of today’s hearings:
Key Terms
- Held in Committee – this means the bill is done for the year.
- Passed to Assembly/Senate Floor – this means that the bill will be heard and potentially voted on before the full Assembly or Senate membership. I say “potentially voted on” because bills can still be placed on the “inactive file”, sent back to a policy or fiscal committee for review, etc., depending on a variety of reasons.
SB 829 (Weiner) – Passed to the Assembly Floor
This bill would exempt qualifying compassion care programs from the cultivation and excise tax enacted by Proposition 64.
SB 930 (Hertzberg) – Held in Committee
This bill would have established a state-chartered banking system to allow financial institutions to offer basic banking services to businesses in the cannabis industry.
SB 1294 (Bradford) – Passed to the Assembly Floor
This bill was recently amended to establish the Cannabis Collaboration and Inclusion Act, which will require the Bureau of Cannabis Control (BCC) to establish an equity program beginning January 1, 2020, and requires the Bureau to provide technical support to state and local equity applicants and licensees.
SB 1409 (Wilk) – Passed to the Assembly Floor
This bill updates current law related to the production and cultivation of industrial hemp, and allows the California Department of Food and Agriculture (CDFA) to establish and implement an agricultural pilot program.
AB 1863 (Jones-Sawyer) – Passed to the Senate Floor
This bill amends California’s personal income tax law to allow taxpayers to deduct ordinary and necessary business expenses related to commercial cannabis activity.
AB 2641 (Wood) – Held in Committee
This would have allowed the BCC to issue a temporary retailer license for cultivators and manufacturers to sell their products directly to consumers at events.
Friendly Reminder: Public Comments on Proposed Statewide Cannabis Regulations Due by August 27.
Information regarding the regulations proposed by the BCC, CDFA, and the Department of Public Health can be found by clicking here on this link.
If you are interested in submitting comments on the proposed statewide regulations and need help, or have questions about any of the bills mentioned above, please contact us at info@thecannabisfile.com or by clicking here.