Los Angeles Mayor Eric Garcetti’s (D) $10.6B budget proposal includes significant funds to crackdown on illegal cannabis businesses. In addition to funds for police overtime, it would allocate $10M to investigate unlicensed businesses.
cannabis wire
- In the document Garcetti also pledges to create a cannabis equity program.
- Cannabis businesses generated $40M in taxes annually for L.A., not including sales receipts.
- The new crackdown comes after the city initiated a pesticide related lawsuit against an unlicensed business. And a city council member proposed holding unlicensed businesses responsible for the costs of shutting them down.
- Canna Law Blog‘s Hilary Bricken has the gritty details on L.A.’s crucial Phase III licensing process.
An L.A. Times investigation found a pro-cannabis city councilwoman in the suburb of Lynwood has stakes in two grows and a cannabis consulting business, which had been paid almost $100,000 by Weedmaps.
Quick Hit
- A bill in California would encourage banks to work with cannabis companies.
ap - Cannabis Wire finds industry transparency varies widely from state to state.
