Both chambers of the Connecticut legislature passed a REC bill after questions of equity and license preferences threatened to derail it. Gov. Ned Lamont(D) is expected to sign the bill.
- Lawmakers approved the bill in a special legislative session overcoming objections from both parties.
- The bill did not include a provision that would have given special preferences to those previously arrested or convicted of pot crimes. Gov. Lamont had threatened to veto the bill if the provision was included.
- It’s likely to be a year or more before commercial product goes on sale in what could be a multi-billion dollar market.
- Gov. Lamont said he’s open to smoking REC, once he signs the bill.
- On Tuesday June 29, Vicente Sederberg is hosting a webinar with a tri-state update on the New York, New Jersey and Connecticut markets.
- The Florida Supreme Court rejected a REC initiative for the 2022 ballot on grounds that the language was misleading.
- A federal judge said Detroit’s cannabis ordinance gave “likely unconstitutional” advantages to longtime city residents and blocked the city from processing REC license applications.
- In Illinois, investors anticipate successful applicants for equity retail licenses will sell them to MSOs.