Maryland adult-use marijuana sales to begin July 1 after gov signs rules into law

Adult-use marijuana sales in Maryland are set to begin July 1 after the governor signed a bill into law establishing regulations for the new market.

A recreational cannabis market was set in motion last November when 67% of Maryland voters approved a legalization bill and elected Wes Moore governor on the same ballot.

The follow-up legislation passed by state lawmakers and signed into law by Moore:

• Allows existing medical cannabis dispensaries to also sell recreational products to adults 21 and older.
• Sets adult-use taxes at 9%.
• Creates separate license categories for qualified social equity applicants.

“This will ensure the rollout of recreational cannabis in our state drives opportunity in an equitable way,” Moore said, according to Baltimore TV station WJZ.

Maryland currently has 102 licensed MMJ dispensaries, according to state data, and the new law allows up to 300 new retail outlets.

Licenses won’t be awarded until January.

Chicago-based multistate operator Green Thumb Industries has six cannabis business licenses in Maryland, according to the company’s annual filings – one each for cultivation and processing and four for dispensaries.

That’s the maximum number of licenses one company can hold under Maryland’s adult-use laws.

Source: https://mjbizdaily.com/maryland-governor-signs-adult-use-marijuana-rules-into-law/