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California Lawmakers to consider nearly 60 cannabis-related bills

There are 58 bills pending before the California Legislature in 2019 that include the word “cannabis” or “marijuana,” which means the state’s industry could be in for another tumultuous year of big changes.

Many of the measures touch on significant industry hurdles, ranging from the lack of banking access to reducing state tax rates to an ongoing debate over statewide MJ delivery.

Not all the bills are major legal changes, however, and many are not industry-related.

Some also have been introduced as placeholders but are awaiting full language – such as Assembly Bill 1678, which merely states that its intent is to “enact legislation relating to cannabis” – meaning more legislation has yet to fully take shape.

The California Cannabis Industry Association also lists 47 bills that it’s tracking, which the organization shared with Marijuana Business Daily.

Several require a two-thirds supermajority vote to pass because they amend Proposition 64, the 2016 marijuana legalization measure that is now part of the California Constitution.Below are the top 12 legislative measures that could impact California cannabis businesses, what they would do if signed into law and where they stand at the Capitol.

Others that only change state law require a simple majority to pass.

 State Assembly

Assembly Bill 37

What it would do: Help offset the federal 280E tax burden by creating a carve-out for business deductions in California’s personal income tax for state-licensed cannabis companies.

Primary sponsor: Assembly member Reggie Jones-Sawyer, a Los Angeles Democrat.

Status: Referred to Assembly Committee on Revenue and Taxation. Awaiting hearings.

Assembly Bill 953

What it would do: Allow marijuana companies to pay state and local taxes via a cryptocurrency method called “stablecoins.”

Primary sponsors: Assembly members Philip Ting, a San Francisco Democrat, and Kevin McCarty, a Sacramento Democrat.

Status: Awaiting committee assignment.

To Read The Rest Of This Article By John Schroyer on Marijuana Business Daily

Published: March 05, 2019

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