MJBizMag September 2022 - 20

INDUSTRY DEVELOPMENTS National & International
Cannabis Legal News
Marijuana Legalization Bill
Finally Introduced in Senate
Legislation to remove the
decades-old federal ban on
marijuana was introduced by U.S.
Senate Majority Leader Chuck
Schumer of New York in July.
Cannabis industry leaders were
gleeful over the milestone, even
though it's a long shot that the
legalization bill will become law.
Most marijuana lobbyists give
Schumer's Cannabis Administration
and Opportunity Act (CAOA) almost
zero chance of winning in the
Senate, since it would need
60 votes to pass.
But several experts said it
could lend momentum to more
incremental reform bills-most
notably the SAFE Banking Act,
which would allow banks to serve
cannabis businesses without fear of
federal reprisal.
Schumer and colleagues including
U.S. Sens. Cory Booker of New
Jersey and Ron Wyden of Oregon
have been working on the 296-page
measure mostly behind closed
doors since early 2021.
According to a synopsis from
Schumer's office, the CAOA would:
* Remove marijuana from the
list of federally controlled
substances.
* Allow states to continue taking
the lead on regulating the
industry but also maintain
prohibition in states that have
not legalized.
* Establish a " regulatory regime
similar to alcohol and tobacco "
from the federal government.
* Include a national excise tax
of between 5% and 10% for
the first two years; that tax
would gradually reach as much
as 25% for " larger cannabis
businesses. "
20 September 2022 | MJBizMagazine
Health Canada Advisory Panel
Deems CBD 'Safe'
for Mainstream Retail
CBD is " safe and tolerable " in
healthy adults and should be
available without a prescription, a
panel of scientists recommended to
Canada's top health regulator.
The endorsement comes three
years after Health Canada first
appointed a team of experts to
consider whether CBD should
be sold by mainstream retailers
and not limited to adult-use
cannabis stores or by doctor's
recommendation.
The experts-a nine-member
panel formally called the Science
Advisory Committee on
Health Products Containing
Cannabis-concluded that CBD is
" safe and tolerable " for short-term
use at doses of 20-200 milligrams
per day.
The recommendation did not
distinguish whether CBD comes
from hemp or marijuana. It also did
not conclude that CBD is effective.
Health Canada is not bound
by the recommendation and has
no deadline to act on it, but the
recommendation could open an
enormous new market for CBD.
Paul Pedersen, CEO of Vancouver,
British Columbia-based Nextleaf,
which makes CBD and THC extracts
for other manufacturers, estimates
Canada's illicit CBD market to be
worth about $4 billion per year.
Germany Prioritizing
Safety in MJ Legalization,
Health Minister Says
The focus of Germany's upcoming
adult-use marijuana legalization
will be safety and the protection of
youth from negative health effects,
according to a top government
official.
Minister of Health Karl
Lauterbach made the comments
at the ministry's hearings on
recreational cannabis legalization,
where hundreds of experts shared
views on addiction, governing,
industry, law and more, according to
news reports.
Lauterbach confirmed that the
government is aiming to have a
draft law completed by the end of
this year, but the health minister
offered no new details on when the
legislation could be approved and
regulations published.
Lauterbach said he used to be
against legalization but has since
changed his mind, adding, " The
risks of (prohibition) are greater
than what could be achieved with
controlled (sales). "

MJBizMag September 2022

Table of Contents for the Digital Edition of MJBizMag September 2022

MJBizMag September 2022 - 1
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