Government
Schumer marijuana legalization bill finally introduced in Senate
Legislation to remove the decades-old federal ban on marijuana was at long last introduced Thursday by Senate Majority Leader Chuck Schumer, and 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 getting through the Senate, since it would need 60 votes to pass.
But several 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.
“It really does increase the chances of something happening,” said Randal Meyer, the executive director of the Global Alliance for Cannabis Commerce (GACC), who said the CAOA might have “an uncorking effect” for marijuana legislation.
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.
A draft of the bill was circulated last year.
“The question today is no longer whether cannabis should be legal – many states have already made that decision on their own initiative. The question is whether cannabis should be subject to the same high regulatory standards that apply to alcohol and tobacco,” Schumer, Booker and Wyden said in a joint statement released Thursday.
According to a synopsis from Schumer’s office, the new bill 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.
A variety of industry trade groups offered feedback last fall on changes they’d like to see in the measure – including lowering the proposed national marijuana tax rate, which was partially implemented in the newer version.
And the newly introduced bill does have some notable revisions versus the draft document.
For instance, the bill still includes a 10% national tax on all marijuana products for the first two years if the bill becomes law, and that tax would gradually ramp up to 25%, a provision staunchly opposed by marijuana trade groups.
But in the newer version, that tax rate will only apply to “larger cannabis businesses,” while the excise tax for “small and mid-sized producers” would be only half the rate, starting at 5% and ramping up to 12.5% over five years, according to a synopsis of the bill from Schumer’s office.
Impact on cannabis stocks
Pablo Zuanic, an investment analyst at New York-based Cantor Fitzgerald, thinks the revised bill is “bullish for cannabis stocks,” especially considering values have been depressed, “the recent rally notwithstanding.”
“If Sen. Schumer’s cannabis reform bill (as filed this morning) were to be passed by Congress, it would be a watershed event for U.S. cannabis stocks,” Zuanic wrote in a research note Thursday morning.
“But we are doubtful it will have 60 votes in the Senate, so we will closely monitor his comments and those of Republicans in the coming days,” including the willingness of the bill sponsors to compromise, Zuanic wrote, echoing a long-held analysis from Congressional observers.
Zuanic added that he sees the bill as more than just midterm “election posturing” and instead a serious effort to develop what could be historic legislation.
Investors initially seemed indifferent to Thursday’s development, in sharp contrast to soaring prices when Schumer in early 2021 announced his plan to introduce a sweeping marijuana reform bill.
An exchange-traded fund that tracks U.S. multistate operators – AdvisorShares Pure US Cannabis ETF – declined slightly Thursday morning, before finishing strong and closing at $12.65 a share, up 3.6% for the day.
The cannabis ETF, which trades on the New York Stock Exchange Arca as MSOS, has plummeted from $26 a share at the beginning of the year.
Will anything happen this year?
The introduction of Schumer’s bill could spur more political wrangling behind the scenes to get some type of cannabis reform passed by the end of the year, several industry experts said, even if the majority leader’s bill itself winds up being tabled.
Meyer, of the Global Alliance for Cannabis Commerce, noted that a large number of bills approved by Congress in the past decade have been accomplished in the month-and-a-half lame duck session that follows the midterm elections in November but which precedes the next Congress, which convenes in January.
That window often leads to a lot of compromise deals, Meyer said, and the SAFE Banking Act could be one such deal, riding the political momentum that Schumer just created with his bill.
“It’s entirely possible. It depends on what happens in the next couple weeks,” Meyer said.
“I wouldn’t be surprised if we see something little float through where there’s almost no objection. Maybe a medical marijuana research bill. And then if that occurs, there’s a real chance you could get a SAFE Banking compromise package.”
Amber Littlejohn, the executive director of the Minority Cannabis Business Association, also said there are signals within the CAOA text that Democratic senators like Cory Booker – who have objected to SAFE Banking being passed before marijuana-related criminal justice reforms are enacted – have realized how important access to capital is for small and minority marijuana companies.
That, she said, gives her hope that a compromise on SAFE Banking could be reached before the end of the year.
“I’m going to believe in SAFE Banking until the day this session ends,” Littlejohn said. “That affirmation of those challenges really does give me hope again that the Senate understands this is an issue, and one we need to fix, and that we do have a vehicle to fix it this year.”
David Mangone, a spokesman for the National Cannabis Roundtable, agreed with his two counterparts on the CAOA introduction upping the odds for SAFE Banking.
He said the Schumer introduction sets the stage for something – almost anything cannabis-related – to get through Congress.
And he thinks SAFE Banking is near the top of the list of potential victories.
Senate votes key
“It still comes down to the reality of counting votes in the Senate. And right now, when you look at co-sponsorship, SAFE Banking is one of those bills where it’s very conceivable that you could overcome a Republican filibuster (in the Senate). There are nine (GOP) senators on the standalone bill,” Mangone observed.
And, he noted, Schumer and his team didn’t just pay lip service to the CAOA with soliciting feedback, which he said is evident just from how it was amended between last year and this week.
“Just from page count alone, it does show that they sincerely took a lot of feedback, and incorporated it… (the bill) jumped from about 150 pages to almost 300,” Mangone said.
“To me, that shows they are serious about getting some form of reform done, because if they weren’t, we would have seen the exact same bill introduced. Not many changes, just a new title slapped on it.”
Steve Hawkins, the CEO of the U.S. Cannabis Council, said he wouldn’t be surprised to see a package of marijuana policy issues approved that combines marijuana research, federal criminal record expungement and SAFE Banking.
“We very well may see a package of all three pass Congress later in the year,” Hawkins said.
Source: https://mjbizdaily.com/schumer-marijuana-legalization-bill-finally-introduced-in-senate/
The Sambhal district administration has cancelled four government land leases issued more than three decades ago after an official investigation found alleged irregularities in the classification and allotment of Ganga river land.
The action follows an inquiry that concluded approximately 31 bigha of land in Surpur village of Gunnour tehsil was leased after its original revenue classification was allegedly altered, allowing land categorized as riverbed to be treated as agricultural property.
Inquiry Reveals Alleged Record Manipulation
The decision was taken by the Additional District Magistrate (ADM) based on an investigation conducted by the Sub-Divisional Magistrate (SDM), Gunnour.
Officials found that while the current revenue records listed the land as transferable agricultural property, older consolidation documents identified it as Category-6(1) submerged river land, making it ineligible for such allotments.
Following the findings, the administration ordered the cancellation of all four leases and directed revenue officials to restore the land’s original classification in official records.
Leases Issued in 1991 Declared Invalid
According to the inquiry, the disputed leases were granted on November 17, 1991, in the names of Shrinivas, Sher Singh, Shakuntala, residents of Surpur village, and Prakash Chandra of Patei Kayasth village.
Authorities stated that the allotments did not comply with the provisions of Section 128 of the Uttar Pradesh Revenue Code, 2006, prompting their cancellation.
Officials said corrective entries are now being made in the revenue records to reflect the land’s original legal status.
Wider Probe Into Ganga Riverbank Land Allotments
The latest action is part of a broader investigation into alleged irregularities involving government land located along the Ganga riverbank in Sambhal district.
Earlier investigations uncovered suspected illegal allotments involving nearly 845 bigha of government land in Sukhailla village under Gram Panchayat Asadpur, where 162 leases are also under scrutiny.
Investigators believe a similar pattern may have been followed in multiple cases, with riverbed land allegedly reclassified as agricultural land before being leased to individuals.
Field inspections reportedly found that much of the land was unsuitable for conventional farming and was instead being used for activities such as sand mining.
Government Land Worth ₹18 Crore Under Review
District officials estimate that approximately 850 bigha (around 71.5 hectares) of government land, valued at nearly ₹18 crore, is currently under investigation.
Authorities have launched a comprehensive review of historical land leases issued across villages situated along the Ganga river in the Rajpura, Gunnour, and Junawai blocks.
The objective is to determine which allotments were made legally and identify cases where land records may have been manipulated.
Officials’ Role Also Being Examined
The investigation has also raised questions about the possible involvement or negligence of officials from the revenue and consolidation departments.
District authorities said responsibility will be fixed after the inquiry is completed, and legal or departmental action will be taken against anyone found to have violated land allotment rules.
Officials indicated that the ongoing review could reveal additional cases involving unauthorized occupation or irregular leasing of government land.
The administration has reiterated its commitment to restoring government property and ensuring transparency in land management across the district.
The National Testing Agency (NTA) has issued a warning to NEET UG 2026 candidates and their parents against submitting fake, altered, or AI-generated OMR sheets while raising objections related to examination results.
The examination authority said that candidates found providing fabricated documents or misleading information during the verification process could face legal consequences.
The warning comes after several students approached the agency with complaints alleging discrepancies between their expected scores and the marks published in the final results.
NTA Finds Suspicious Documents During Verification
According to the NTA, some candidates submitted OMR sheets while requesting score verification, but officials found that certain documents appeared to be manipulated or artificially generated.
The agency clarified that only original OMR sheets issued during the examination process will be accepted for reviewing complaints.
NTA officials said they are examining all grievances carefully and will consider only verified examination records while deciding on score-related concerns.
Students Raise Questions Over NEET UG Results
After the announcement of NEET UG 2026 results, several candidates reported differences between their estimated marks based on the official answer key and their final scorecards.
Some students claimed that their expected scores were significantly higher than the marks awarded in the results.
In some reported cases, candidates alleged that uploaded OMR sheets did not match their original answer sheets or that the displayed scores were inconsistent with their calculations.
The complaints prompted several students and parents to seek clarification and request a detailed review of the evaluation process.
AI-Generated Fake Records Create New Challenge
The NTA has highlighted the growing misuse of artificial intelligence tools to create fake examination documents.
Officials said digitally altered OMR sheets and fabricated records could create difficulties in identifying genuine grievances and may affect the integrity of the complaint resolution system.
The agency advised candidates to avoid using unofficial documents or modified materials while submitting objections.
Candidates found involved in producing false evidence may face action under applicable laws, the NTA warned.
NEET UG 2026 Conducted Again After Paper Leak Allegations
The NEET UG 2026 examination process faced controversy after allegations of a paper leak led authorities to cancel the original exam held on May 3.
A re-examination was conducted on June 21 for affected candidates, following which results were announced on July 16.
After the controversy, the government announced plans to move future NEET UG examinations from the traditional pen-and-paper format to a computer-based testing (CBT) system.
Verification Process Continues
The NTA said the review of complaints submitted by candidates is still underway and further decisions will be taken after completing the verification of all documents.
The agency has urged students to rely only on official communication channels and submit genuine records while seeking clarification about their results.
The Goa government has initiated a detailed investigation into alleged irregularities in Public Works Department (PWD) tenders worth nearly ₹1,000 crore, following complaints of document manipulation and misuse of contractor eligibility credentials.
The probe focuses on claims that certain construction firms may have secured high-value infrastructure contracts by submitting falsified or altered work completion certificates to qualify for top contractor categories.
Allegations of Fake Experience Certificates in Tender Bids
According to complaints filed by engineers and contractors, several companies allegedly used questionable documentation to obtain Class IAA contractor status, a designation that allows participation in large-scale government infrastructure projects.
Investigators are examining whether manipulated work completion certificates were used to falsely demonstrate prior project experience, thereby inflating eligibility during the tender evaluation process.
One of the key concerns involves references to infrastructure projects executed under Karnataka Neeravari Nigam Limited, including the “Mudi Tank Filling Scheme.” Authorities are verifying claims that duplicate or inconsistent completion certificates may have been issued for the same project.
JV Structure Alteration Under Scrutiny
Officials are also investigating alleged changes in joint venture (JV) agreements submitted during tender applications. In one case under review, a 2019 JV reportedly listed Amrita Constructions Private Limited as the lead partner, with another firm as a supporting entity.
However, documents submitted to Goa PWD allegedly reversed these roles, naming Bagkiya Constructions as the lead partner. This change is suspected to have significantly enhanced the company’s technical eligibility and past performance record.
Authorities believe such alterations may have allowed firms to qualify for contracts they would otherwise not have been eligible for under standard procurement norms.
Allegations Linked to Karnataka Project Documentation
Another complaint under review concerns the “Akka Mahadevi Memorial Project” in Shivamogga, Karnataka, valued at over ₹51 crore. It is alleged that the project, executed in phases, was incorrectly represented as a single completed contract to meet eligibility requirements for higher-value tenders.
Investigators are verifying whether such representations were used to gain unfair advantage in experience-based qualification criteria.
Government Launches Comprehensive Inquiry
Following the emergence of these allegations, the Goa government has ordered a preliminary inquiry into all related contracts, approvals, and supporting documentation.
Officials have stated that every stage of the tendering process—including eligibility checks, certificate validation, and contract award decisions—will be examined in detail.
If irregularities are established, possible actions may include contract cancellation, blacklisting of firms, recovery of funds, and legal proceedings against those involved in submitting false documentation.
Concerns Over Procurement Transparency
The case has raised broader concerns about transparency and verification systems in public infrastructure procurement. Experts point out that reliance on manual documentation without robust digital verification increases the risk of fraud in large-scale government contracting.
Transparency advocates have called for stronger auditing systems, centralized contractor databases, and real-time verification of project credentials to prevent misuse of public tender processes.
Probe Continues
Authorities have confirmed that the investigation is ongoing and a detailed report will be prepared after reviewing all evidence and documentation. Further action will be taken based on the findings in accordance with applicable laws and procurement rules.
-
Business3 years agoPot Odor Does Not Justify Probable Cause for Vehicle Searches, Minnesota Court Affirms
-
Business3 years agoNew Mexico cannabis operator fined, loses license for alleged BioTrack fraud
-
Business3 years agoAlabama to make another attempt Dec. 1 to award medical cannabis licenses
-
Business3 years agoWashington State Pays Out $9.4 Million in Refunds Relating to Drug Convictions
-
Business3 years agoMarijuana companies suing US attorney general in federal prohibition challenge
-
Business3 years agoLegal Marijuana Handed A Nothing Burger From NY State
-
Business3 years agoCan Cannabis Help Seasonal Depression
-
Blogs3 years agoCannabis Art Is Flourishing On Etsy