The new California legislature convened for the first time this week, bringing together the lawmakers who'll be enacting the state's pot laws for the next two years.

• In part one of our report, Willis Jacobson looks at laws passed by the previous legislature in 2020.
• In part two he previews the legislative agenda for 2021.
• Separately, a committee which reports to the state Bureau of Cannabis Control, heard from the public and industry about what's on their mind.

On Saturday, we'll introduce you to key lawmakers and lobbyists in Sac-town.

Harborside fires back at IRS

SCOOP: In a 35-page court filing, dispensary chain Harborside previewed arguments for its federal tax case against the IRS. The closely watched lawsuit, which goes before the Ninth Circuit Court of Appeals in February, challenges the constitutionality of industry hated tax rule 280E.  

*

Cannabiz warily eyes SCOTUS texting case

The U.S. Supreme Court heard arguments in Facebook vs. Duguid, a case with major implications for text-message marketers, including many cannabis companies. Eaze and Curaleaf are among the potco's enmeshed in similar litigation, where damages can reach well into the hundreds of millions. 

*

The joy of SPACs

Special purpose acquisition companies, the investment vehicle known as SPACs, are all the rage in the cannabiz, following that big deal by Subversive Capital. I talked to Ceres Acquisition Corp. CEO Joe Crouthers, a Goldman Sachs alum, who offered a quick, useful lesson on how SPACs work and discussed plans for the rival SPAC his firm is sponsoring.  

What caught our eye:

• MedMen earnings suggest glimmers of hope.
  Green Market Report
• President-elect Joe Biden nominated California attorney general Xavier Becerra, to be Secretary of Health and Human Services. Becerra has a "pro-marijuana track record." The U.S. House of Representatives also passed a medical marijuana research bill which has little change of passing a Republican led U.S. Senate.
  Politico
• Former Gov. Jerry Brown, told progressives to have a joint and "just chill."
  S.F. Chronicle
• A group representing growers is calling for lower licensing fees for light-deprivation farms.
  MJBiz
• Green Flower Media is launching Ganjier, a "cannabis sommelier certification program" for industry professionals.
• Outgoing pot czar Lori Ajax will lead the state's craft brewers' association.
  THCNet
• Some in the industry say a proposed LED mandate would devastate indoor quality.
  L.A. Weekly 
• REC legalization in Mexico might be delayed again.
  Marijuana Moment
• Eight brands that are nailing holiday marketing.
  MJ Brand Insights
• The Leafly strain of the year is Runtz from Ridgeline Farms in southern Humboldt.