Hi all,

Happy Friday! Here we go:

• Calif. confirms 25% excise tax hike

Alex

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California’s tax agency confirmed Thursday that it would to raise the cannabis excise tax from 15% to 19%, the maximum possible increase, starting July 1. Stopping the tax hike is a top priority for the state’s sputtering industry which argues higher taxes push consumers to buy on the illegal market.

The change dates to revenue guarantees…

Read the story

Federal:

• Trump’s nominee for DEA boss, Terry Cole, said he would move the rescheduling process forward but declined to endorse rescheduling.
  Cannabis Business Times
• Trump’s interim U.S. Attorney for Washington D.C. warned a D.C. dispensary that it could face prosecution for violating federal law.
  Marijuana Moment

Business:

• A group of 18 leading public companies lost $2B last year on $8.5B in revenue.
  Crain’s Detroit Business
• MSO Cresco Labs submitted 128 applications to win two Kentucky MED licenses. The state auditor has announced an investigation into several aspects of the process.
  Louisville Public Media
• ABC’s Good Morning America did a segment on hemp-derived drinks, a sign of mainstream interest.
• Michigan-based operator Jars came up with a workaround to air a TV ad during the NFL draft.
  Crain’s Detroit Business
• A new lawsuits challenges mandatory labor peace agreements. A similar suit previously fell short in California.
  JDSupra
• Four cultivation pros shared 17 lessons learned.
  Cannabis Business Times
• Panther Group investor Jordan Tritt is joining portfolio company BDSA as CEO.
• A new beer company called Dad Strength Brewing makes microbrew-style beers with low (such as 2.9%) alcohol content.
  Axios

State and local:

• The Texas House advanced a bill that would restrict but not ban hemp-derived products. The Senate previously passed a total ban.
  Texas Tribune
• The Ohio Senate voted to regulate hemp products like licensed product.
  Columbus Dispatch
• Bills to restrict hemp have lost momentum in Florida. And Oklahoma is the latest state to take aim at hemp.
  Attorney Rod Kight
• In Arizona, a hemp industry group aims to protect their products from Attorney General Kris Mayes (D) who has declared the products illegal.
  Tucson Sentinel
• New York’s Long Island has become a pot policy battleground.
  Newsday
• Bills in Maine would require MED to be tested and tracked in Metrc. Currently the state only mandates that for REC.
  @gettinghighwithcats
• Westword reviews Denver’s new upscale lounge Cirrus Social Club. MJBiz went looking for a cannabis lounge business model.

Health and science:

• Harvard physician and reform advocate Peter Grinspoon paid video tribute to his father Harvard physician and activist Lester Grinspoon.
• A UC San Diego study found colon cancer patients are more likely to die sooner if they are heavy cannabis users.
  Deseret.com

International:

• An industry group is asking new Canadian prime minister Mark Carney to change cannabis policies.
  MJBiz

Book:

• TikTok-er Riley Kirk Ph.D. has a new book: Reefer Wellness: Understanding cannabis science, culture and medicine

Fun and interesting:

• “Dabbing in the Dark Ages.”
  @focus.v
• “How drug cartels took over social media.”
  The Atlantic

State:

• Bill AB 1332, which would enable mainstream parcel delivery services to deliver MED for some operators, cleared a committee vote.
  Attorney Jennifer McGrath
• Bill AB 8, which would require hemp-derived products to be regulated like licensed cannabis, and has support from much of the licensed industry passed two committee votes.
• The Department of Cannabis Control posted its Q1 accomplishments.

Business:

• Catalyst CEO Elliot Lewis is escalating calls for a tax strike against the city of LA. There are organizing meetings scheduled for next week.
  @catalyst_ceo
• SMS marketing company BlackLeaf acquired the Body and Mind dispensary in Long Beach.
  Cannabis Equipment News

Local:

• Dozens of Humboldt Co. licenses have been revoked.
  KRCR
• The Santa Barbara Independent toured the Autumn Brands farm.
• Cannabis Now checks out the big new Green Horizons indoor grow in the Coachella Valley.

Health and Science:

• California leads the nation in pet cannabis toxicity cases.
  CBS

Upcoming:

• Sunday’s Mendo Cup in Willits celebrates small farmers.