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California budget deal helps keep cannabis growers in business

California cannabis farmers facing a potential “extinction event” could see help in the state budget package with measures that would allow nascent businesses to continue operating with provisional licenses and open opportunities for new growers.

The fixes would give the state and local governments more time to decide whether to grant annual licenses to marijuana businesses that obtained temporary ones after voters passed Proposition 64 in 2016 to legalize recreational cannabis.

Thousands of companies were at risk this year of having their temporary licenses expire before the state or local governments could act on them, throwing uncertainty in an industry the state wants to draw out of the black market.

The state budget deal would grant a five-year extension for the state’s provisional licensing structure, moving its expiration date date from Jan. 1, 2020, to Jan. 1, 2025.

The marijuana budget bill clarifies how companies can obtain licenses, allowing businesses to apply for provisional licenses that can be renewed without first obtaining a less-secure temporary one.

To Read The Rest Of This Article By Andrew Sheeler on Sacramento Bee

Published: June 14, 2019

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