Maryland House and Senate representatives on Friday unveiled a long-awaited bill to tax and regulate marijuana, months after voters approved a ballot legalization referendum.
Deals. Vanessa Atterbury (D) and CT Wilson (D) sponsor House legislation, while Sens. Brian Feldman (D) and Antonio Hayes (D) carry roommates.
These measures will make the state ready to regulate the cannabis trade as a state law legalizing possession of up to 1.5 ounces of marijuana for adults takes effect July 1.
Under the proposals, cannabis would be taxed at six percent for the first fiscal year beginning this summer. It will increase by one percent each year until 2028, and it will reach a maximum of 10 percent.
the Invoices suggest To put 30 percent of your marijuana tax proceeds into a community reinvestment fund for at least the next 10 years. It also calls for 1.5 percent of revenue to be allocated to localities and another 1.5 percent to each of the Cannabis Public Health Fund and the Cannabis Business Assistance Fund.
The Marijuana Commission on Alcohol and Tobacco will be renamed the Maryland Commission on Alcohol, Tobacco and Hemp, which will be responsible for regulating the program. Under the commission, there will be
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