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New Jersey Marijuana Legalization Delayed, But Not Derailed

by Faith Fidura May 09, 2018

Governor Murphy promised legalized adult use cannabis as one of his first 100 days initiatives.  That time has come and passed.  So what exactly is the status of legal cannabis in New Jersey?

New Jersey Marijuana LegalizationIn early March, Gov. Murphy told New Jersey legislators that he wanted to legalize and tax cannabis before the end of 2019.  Money talks, and Gov. Murphy included $60 million in revenue from taxing the legal cannabis industry in his first budget proposal. Recently, however, Gov. Murphy has been less resolute about a legalization bill coming to fruition by his self-imposed deadline, saying that it was “too early to tell.”

That is not to say that legal cannabis will not happen in New Jersey.  The initial time frame was ambitious – perhaps overly so – but Gov. Murphy and Senate President Sweeney are still pushing for legalization. “There’s no reason to believe we can’t get there,” Gov. Murphy recently stated.  “This is not one you get overnight.  This takes time.  We’re in that process right now.”  Sen. Sweeney added “I don’t know if we’re going to be able to get it done in the budget session.  I was actually hoping to get it done in the first 100 days.  But we have work to do.  I think it’s time for us to really start putting a plan in place, have hearings, and for the governor to hold some town halls and draw more attention to it.”

Legal cannabis may have recently added a new ally in the form of Assembly Speaker Craig Coughlin, D-Middlesex, who is now said to be leaning strongly in favor of legalization after visiting dispensaries in Denver early last week. Next to Gov. Murphy and Sen. Sweeney, Speaker Coughlin is New Jersey’s third most-powerful elected official and, if he comes out in support of legalization, June could be a very important month for legal cannabis.

This blog will continue to monitor developments concerning legal cannabis in New Jersey.

 

Interested in Starting Your Own New Jersey Marijuana Business?

The first step to starting a marijuana business is securing the proper license to do so. To obtain a marijuana business license in New Jersey, you must apply to the state when they make a request for applications. 

Will your application have what it takes to secure a marijuana business license? To educate yourself more on the application process and start drafting your application, download our New Jersey Marijuana Business Application Package, which includes:

  • An Informational Overview of New Jersey’s pending and current marijuana laws

  • An Application Guide and Checklist which gives a detailed summary and checklist of all action items you’ll need to complete before submitting your application

  • A Business Plan Template to help you start drafting the required plans and executive summary for your business

  • A Financial Plan Template to give you and your investors a comprehensive 3-year projection of what you can possibly expect when selling marijuana

Get the Application Package

 

Source: https://njcannabiscounsel.com/2018/05/09/legalization-delayed-but-not-derailed/