U.S. Virgin Islands Governor Pushes For Marijuana Legalization In Annual Speech

U.S. Virgin Islands Governor Pushes For Marijuana Legalization In Annual Speech

The governor of the U.S. Virgin Islands (USVI) repeated his call for marijuana legalization in his annual State of the Territory address. Gov. Albert Bryan Jr. (D), who called the legislature into a special session last month to begin taking up cannabis reform legislation, stressed that establishing a commercial marijuana market would bring in needed tax revenue to support a variety of government programs. The proposed amendment to the territory’s existing medical cannabis law, which Bryan signed last year, would allow adults 21 and older to obtain a license from the government in order to purchase and cultivate marijuana. It would also promote participation in the industry by small farmers and local businesses, as well as providing for automatic expungements of prior cannabis convictions. “Most importantly, it creates a taxing regime for the local industry that will generate higher revenues than the current law allows,” he said in the speech last Monday, noting that tax revenue will be distributed between the Government Employees Retirement System (GERS) fund (75 percent), implementation of regulations (20 percent) and services for senior citizens (5 percent). “The revenues generated from this industry can benefit the system as a direct contribution,” the governor said. “However, the…

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Source : MJ moment
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