Maryland Lawmakers’ Marijuana Workgroup Looks At Ways To Address Market Demand Following Legalization

Maryland Lawmakers’ Marijuana Workgroup Looks At Ways To Address Market Demand Following Legalization
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Maryland lawmakers convened for another marijuana legalization workgroup meeting on Thursday, with members hearing from cannabis policy experts about market demand considerations once a regulated systems of sales launches. The House Cannabis Referendum and Legalization Workgroup—which was formed in 2021 by Speaker Adrienne Jones (D)—listened to a presentation from the firm Cannabis Public Policy Consulting (CPPC) that overviewed the issue. The final MGA Cannabis Workgroup meeting of this interim is underway. Today, we receive a presentation on market demand and taxation in the cannabis industry. Of course, our work will continue into #mdga23. Tune into this meeting here: https://t.co/L7ONsRs6kH — Luke Clippinger (@LukeClippinger) January 5, 2023 Members have been holding numerous meetings like this to inform future regulations following Maryland voters’ approval of a legalization referendum during last year’s election, which triggered the implementation of complementary legislation covering rules for basic policies like possession and low-level home cultivation. “In the upcoming session, we’ll have to work again very diligently to deliver comprehensive and thoughtful legislation to address the significant components of cannabis legalization related to its economic impacts,” Del. Luke Clippinger (D), who sponsored both the referendum bill as well as a complementary implementation measure and serves as the chair of the workgroup, said at Thursday’s meeting.

Two CPPC staffers presented members with the results of an empirical study focused on Maryland that the firm conducted. It was based on a large-scale survey of thousands of Marylanders, who shared information about their frequency of use, amount of cannabis consumed and more. They projected that Maryland can expect to hit $1 billion in adult-use marijuana sales within 20 months of the market launching. The study also reached the conclusion that the effective tax rate for cannabis should not exceed 20 percent, and the state should open at least 300 dispensaries,…

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Source : Maryland Lawmakers’ Marijuana Workgroup Looks At Ways To Address Market Demand Following Legalization

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