First Set of Adult-Use Cannabis Rules Approved in New Jersey

Cannabtimes

<![CDATA[The New Jersey Cannabis Regulatory Commission (CRC) approved the first set of rules and regulations for the state’s adult-use cannabis industry on Aug. 19.At this time, it remains unclear when adult-use sales will begin in the state; however, the approved regulations lay out the requirements for those looking to apply for a New Jersey cannabis license. The CRC will issue licenses for cannabis retailers, manufacturers, distributors, wholesalers, cultivators and delivery services, according to the rules. During two years after Feb. 22, 2021, the CRC will not approve more than 37 cultivation licenses—excluding microbusinesses and expanded alternative treatment centers (ATCs)—however, the CRC may accept and review additional licenses during that time, as long as the issued license number does not exceed 37. After 24 months, the CRC will review current cultivation license holders, accept new applications, and issue new licenses to meet market demands, according to the rules. Priority applicants include diversely owned businesses, social equity businesses and impact zone businesses.  Applicants with 50% or more ownership from someone who was previously convicted of a cannabis offense, has lived in a economically disadvantaged area for five years or makes 80% or less of the average median household income are considered part of the social equity business category. Businesses that are majority-owned by a woman, disabled veteran or minority qualify as a diversely owned business, and a company that is majority-owned by a person who has lived in an area with high unemployment and crime rate for three or more years qualifies as an impact zone business, the rules state. Additionally, the rules state that conditional license applicants have priority over annual license applicants, and microbusinesses take precedence over standard cannabis businesses. A business smaller than 2,500 square feet or that employs 10 individuals or less is considered a microbusiness. The conditional…

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Source : First Set of Adult-Use Cannabis Rules Approved in New Jersey

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