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Latest Nevada Cannabis Legislation Ups Purchase Limits, THC

Customers will be able to buy up to 2½ ounces of flower or one-quarter ounce of THC concentrate.





Nevada’s cannabis industry is set to undergo significant changes with the passing of Senate Bill 277, signed into law last month. The bill, effective January 1, 2024, allows recreational cannabis customers to purchase larger quantities and more potent THC products, reports the Las Vegas Sun. Customers will now be able to buy up to 2½ ounces of marijuana flower or one-quarter ounce of THC concentrate, up from the previous limits of one ounce and one-eighth ounces, respectively.

Retailers offering both recreational and medicinal products will now require only one license instead of specific certifications for each category. This streamlining aims to reduce administrative burdens for dual licensees in the industry.

Medical-grade marijuana products, which are typically stronger, will be available alongside recreational products, as only one type of license is needed to operate a dispensary. This move will enable consumers to access high-potency products similar to what medical patients can purchase.

The new law also brings positive changes for ex-convicts seeking to work in the cannabis industry. A provision in the bill establishes an appeals process through the Nevada Cannabis Control Board, allowing individuals with felonies to apply for an agent card, enabling them to work with cannabis in the state.

In addition, the legislation eliminates the excise tax on medicinal cannabis sales and permits retailers to have multiple entrances. Local governments can utilize tax revenue generated from cannabis sales to fund public education campaigns on safe consumption practices and identifying legitimate retail operations.

To boost the industry’s growth and competitiveness, the bill significantly reduces many of the annual and overhead startup fees imposed by the Cannabis Control Board, easing financial burdens on cannabis establishments.




Cannaconvo with Peter Su of Green Check Verified

Cannabis Last Week with Jon Purow interviews Peter Su of Green Check Verified. Peter Su is a Senior Vice President with Green Check Verified, the top cannabis banking compliance software/consultancy in the space. A 20+ year veteran of the banking industry, Peter serves on the Banking & Financial Services committee of the National Cannabis Industry Association. He chairs the Banking and Financial Services Committee for the NYCCIA & HVCIA. He is an official member of the Rolling Stone Cannabis Culture Council. And, he is on the board of the Asian Cannabis Roundtable, serving as treasurer.

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