Rhode Island Budget Proposal Seeks Recreational Cannabis Legalization

High Times

The 2023 budget was recently proposed by the governor of Rhode Island, which aims to establish a legislative framework for recreational cannabis legalization. Rhode Island Governor Dan McKee presented his Fiscal Year 2023 Budget Proposal on January 20, and includes recreational cannabis legalization. “Today, we know there are still many pandemic-related challenges that we must once again come together to address—with our top priority being the health and safety of Rhode Islanders. At the same time, we have an historic opportunity to write Rhode Island’s next chapter now, with $1.13 billion in federal funds and an over $600 million surplus available to invest in our state’s future,” McKee wrote in the introduction of his proposal. “The decisions we make this year have the potential to bolster Rhode Island’s economic comeback and propel our state into the next decade with strength.” In a press media presentation he briefly covers multiple topics included in his budget proposal. Under “other items,” includes the mention of adult-use cannabis “Allows for controlled, phased-in introduction of retail licenses, results in minimal net revenue in FY 2023.” A more detailed executive summary goes into detail of the Fiscal Year 2023 Budget Proposal in nearly 200 pages of plans, with cannabis being mentioned in a few key sections. “The governor recommends creating a strictly regulated legal market for adult-use cannabis in the state,” the executive summary states. “This proposal would create a weight-based excise tax on marijuana cultivation, an additional retail excise tax of 10 percent, and also apply sales tax to cannabis transactions.” The summary states that 25 percent of cannabis tax revenue and fees collected from licensing would be given to public health and safety programs. An additional 15 percent would be granted to local governments and the remaining 60 percent would go straight to the…

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