Compassionate Care Act Offers Slight Move Forward

New York is moving forward with the Compassionate Care Act, a rather meek piece of medical marijuana legislation that severely limits the ways in which patients can use marijuana (no smoking), and severely limits the kind of patients that can use the drug.

The bill is expected to pass the New York legislatures and move to signing by Cuomo by week's end. 

More information on the bill:

New York State Reaches Deal On Medical Marijuana, But There's A Huge Catch

Families React to the Compassionate Care Act, Medical Marijuana

SEC Warns of Marijuana Related Investments

The Securities and Exchange Commission issued a strong warning today to prospective investors in marijuana based businesses, cautioning those investors against potential fraud.

The investor alert, available here, opens with a direct warning: "[t]he SEC has seen an increase in the number of investor complaints regarding marijuana-related investments" and the government's securities authority has "recently issued temporary trading suspensions for the common stock of five different companies that claim their operations relate to the marijuana industry".

Like any unregistered security, proceed with extreme caution. Despite everyone knowing that if something is too good to be true, it probably is, individuals continuously invest in fraudulent businesses with no likely investment potential. Always contact legal counsel when considering such an investment.

New York Legislature Rewrites Marijuana Proposal

Newly revised legislation may pave the way for medical marijuana in New York, however, the law is arguably the most restrictive medical marijuana law to date. The bill, in its full form, available here, provides a detailed list of 20 ailments for which medical marijuana may be used. This is, of course, on top of the already stringent requirements laid forth by Gov. Cuomo regarding where dispensaries may be located.

When facing stern opposition to the bill, medical marijuana supporters "have revised the legislation to place tighter restrictions on how the drug can be used and who gets to use it." h/t NY Daily News

Over at The Awl, John Herrman makes clear the sad state of affairs:

The entire bill, as written now, seems to position medical marijuana less as an option than as a prescription of last resort—a little green panic button hidden behind a locked panel of swirly hand-blown glass. The section of the bill in which it justifies itself is borderline apologetic: "Although for many patients other drugs may be more effective than marihuana, the Institute of Medicine noted that 'there will likely always be a subpopulation of patients who do not respond well to other medications,' Medical marihuana must be available to those patients." To get to the Governor's desk, the stricter Senate bill would have to be reconciled with the looser Assembly version, and this is a case where caution will likely prevail.

Illinois Lawmakers Push For Legalization Task Force

Via the Chicago Tribune, "[c]iting strains on the criminal justice system and the economic costs of enforcing anti-marijuana laws, a group of Democratic lawmakers called Monday for the creation of a task force to pursue legalizing and regulating the drug in Illinois."

Some serious words from the Windy City about moving forward to legalization efforts. A notable, and honest assessment of what may be required:

""This is not something that's going to happen in weeks or months, but it's something that's never going to happen unless we start to take affirmative steps now," said [Cook County Commissioner John] Fritchey, a Democrat who helped push for the decriminalization of marijuana in Chicago."

New York State Legislature Debates Legalization

Debate on legalizing marijuana took place this morning in the New York state legislature. More details below, via an article on amNew York:

"A new bill in the state legislature to legalize marijuana will be debated on Tuesday morning.

In December, State Sen. Liz Krueger, whose district includes the Upper East Side and the Flatiron, introduced a bill that would make toking legal. While Krueger jokes that she hasn’t sampled the green stuff in years, she said her intention is not to encourage smoking. Rather, by regulating marijuana, Krueger said she hopes fewer kids will light up.

“We believe that the research shows that marijuana is not more dangerous than alcohol,” she said. “Regulating and taxing it would actually make it harder to get for young people than it is now.”"

Maryland Decriminalizes Marijuana

Maryland moves to decriminalize pot after "the Maryland Senate voted 34 to eight to decriminalize marijuana." Story here.

Ms. Desvarieux's write-up is excellent and offers an interesting discussion by Maryland lawmakers about the bill and the vote, as well as a move to decriminalize while much of America discusses tax benefits of legalization. The Maryland law "impose[s] only civil fines, rather than criminal offenses, on those caught with less than ten grams of marijuana."

 

 

Times Square Ad For New York Marijuana Legalization

Michael Walsh over at the Daily News reports on a new ad popping up in Times Square, by a company called Weedmaps.

The ad pushes for marijuana legalization in New York:

About 20 medical marijuana facilities would have served patients at hospitals in New York during 2014 if the Compassionate Care Act made the NY State budget, according to Weedmaps. Even if this were the case, countless others in New York will need to rely on the black market.

"Our company strongly believes that marijuana prohibition ruins the lives of countless New Yorkers every year," Houston told The News.

 

New Jersey Legalization Bill Filed

Max Davidson over at The Daily Chronic filed a good article on a new marijuana legalization bill was introduced in New Jersey's legislature.

Senate Bill 1896, filed by Senator Nicholas Scutari, would "legalize cannabis in New Jersey and to create a taxed and regulated system like Colorado."

In pertinent part, the bill would establish the following:

Scutari’s bill calls for the legalization of possession of up an ounce of marijuana, transfer of up to an ounce between adults for no financial gain and the cultivation of up to 6 plants (only 3 mature).  The bill also allows for retail stores to be setup and for the formation of a division of Alcoholic Beverages and Marijuana Control.

Senate Bill 1896 also calls for  a tax to be established on marijuana.  This tax will be divided up in to 3 main sections:

·       70% of all monies collected going to a Transportation Trust Fund Account and that money  will be used fix the state road infrastructure.  Scutari has coined this as “pot for pot-holes” tax.

·       20% of the tax money collected would go to a “Drug Enforcement and Demand Reduction Fund”

·       Finally the last 10% of the tax money collected shall go to 43 programs addressing women’s health, family planning, postpartum depression awareness, smoking cessation, and HIV-awareness.

h/t Max Davidson at The Daily Chronic

Delaware Polling Re: Decriminalization

Strong support in Delaware for decriminalization, and a further push by activists for legalization.

"Medical marijuana was legalized in Delaware in 2011, and now cannabis consumers want state leaders to consider legalizing the drug for personal use. 

“We have decades of misinformation, the propaganda model has been rampant in this country for over 70 years,” said Zoe Patchell, spokeswoman for the National Organization for the Reform of Marijuana.

Patchell is among those in Delaware who are lobbying lawmakers to create legislation that would allow adults to legally purchase and consume marijuana. Supporters argue that the drug is natural, safe and less harmful than alcohol."

Though there may be a push to legalize marijuana in full, the state may only be ripe for decriminalization at the moment. The poll numbers suggest the state is ready for such a move.

"A recent poll commissioned by the Marijuana Policy Project found that 68 percent of Delawareans support removing criminal penalties for marijuana possession."

h/t Shana O'Malley at Newsworks

Colorado Poll Numbers

Not surprisingly, poll numbers re: marijuana legalization have only increased since Colorado's legalization.

According to a new survey from Public Policy Polling, Marijuana has become more popular in the two months the law legalizing recreational use of the drug has been in effect in Colorado.

The poll found 57 per cent of Coloradoans now say they think marijuana usage should be legal, compared with 35 per cent who say it should not. The 22-point spread has widened from the 10.5-point spread by which voters passed the 2012 Colorado referendum legalizing small amounts of possession and growing in the state.

h/t Business Insider Australia

Investment Group Promotes Marijuana Business in Front of New York Assembly Health Committee

Investment group speaks in front of New York Assembly Health Committee in Albany to promote marijuana-based business. A company called Articulated Investors, with 2 principals with finance and real estate backgrounds, has real estate positions in Colorado, and an interest in expanding their network into other states.  h/t Main St

This is a positive development, even if it is an isolated case. Marijuana businesses would be a boon for New York, and New York investors, and any push by the finance (and real estate) community on marijuana legislation is important, necessary, and will resonate.

 

DC Legalization Update

Aaron Davis over at the Washington Post provided an update on the marijuana legislation effort in Washington DC, one of the first east coast communities looked to put marijuana legalization on the 2014 ballot.  

"The District should set aside the warnings of its attorney general and let voters decide whether they want to legalize marijuana possession in the nation’s capital, advocates for the measure argued Tuesday before the D.C. Board of Elections.

The band of marijuana advocates is seeking to make the District one of the first East Coast cities to legalize marijuana possession. If it successfully gets the measure on the November ballot, legalization has a strong chance of being approved, according to a recent Washington Post poll, and it could hasten the arrival in Washington of a debate that has simmered mostly in Western states." h/t Washington Post

There is arguably no better place in the United States to make clear the discrepancies between federal law and local law on the subject, and a progressive move in Washington DC may put legalization advocates one step closer to their goals on a federal level (perhaps the first step: delisting marijuana as a Schedule 1 drug under the Controlled Substances Act, among other things).

Oregon Moves Forward with Legalization Bills

Meanwhile, in Oregon, "a bill that would ask Oregon voters if they want to legalize marijuana while leaving the regulations up to the Legislature passed its first committee last Thursday.

Senate Bill 1556 passed the Senate Judiciary Committee on a 3-2 vote, with all Democrats supporting it and all Republicans opposing, reports Jeff Mapes at The Oregonian. The bill now goes to the Senate Rules Committee." h/t Salem News

This isn't especially surprising given the progressive bent of Oregon residents and voters. Still, in the event that Oregon legislators do pass one of the two competing legalization bills, Oregon would be only the 3rd state, after Colorado and Washington, to legalize marijuana.

Onto the 2 bills in question:

"Initiative 21 would amend the Oregon Constitution, ending criminal penalties for cannabis and permitting adult recreational marijuana use, possession and cultivation. Initiative 22, the Oregon Cannabis Tax Act 2014, creates a commission to regulate the cultivation, processing, and sale of marijuana, generating hundreds of millions of dollars for the Oregon General Fund, helping to pay for schools, roads, and social services." h/t Salem News

Between the two bills, Initiative 22 seems like the better choice in light of the federal government's seeming interest in a bona fide development plan rather than outright decriminalization. Having said that, as well-stated by David Sarasohn in a column over at the Oregonian, the federal government's marijuana policies and public statements on legalization (or even an updated drug classification) evidence a myriad of conflicting ideas.

New York Comptroller John Liu Report on Fiscal Upside to Legalization

Nice piece over at the Village Voice Blog by Tessa Stuart, in which Ms. Stuart writes that in light of the recent positive polling, it may be time to "unearth that report commissioned by former Comptroller John Liu back in August: "Regulating and Taxing Marijuana: the Fiscal Impact on New York."

Among the reasons is the following: "Liu's office estimated that allowing medical marijuana and legalizing personal possession of up to one ounce of marijuana could raise $431 million dollars total for New York City -- $400 million in excise and sales taxes and an additional $31 million saved in law enforcement and court costs." A link to Liu's report is on the 2nd page after the jump. h/t Village Voice and Ms. Tessa Stuart

New York Medical Marijuana Supported by Large Margin

Diving a bit deeper into new polling released on Monday:

"State voters favor legalizing medical marijuana by a huge margin - 88% to 9%, according to a Quinnipiac poll." h/t Daily News

Huge margin indeed. It would be interesting to see the response if polling outfits asked individuals whether they'd favor Cuomo's limited-scope proposal versus either Colorado or California's more expansive and business-friendly medical marijuana initiatives.