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Minnesota Cannabis Legalization Bill Nears Completion

Gov. Tim Walz has previously stated ‘I’m ready to sign it into law.’




Graphic by Minnesota House of Representatives

Minnesota is on the verge of giving the green light to recreational marijuana, possibly as early as this week.

A conference committee, responsible for combining the House and Senate marijuana bills, wrapped up its work on Tuesday, according to a report in the StarTribune. They made a few changes, including setting the tax rate for cannabis products at 10% and putting a cap of 2 pounds on home possession of marijuana flower. Additionally, cities will have the choice to limit the number of cannabis retailers operating within their boundaries.

If the bill passes, adults could expect legalized marijuana possession and limited home-growing starting this summer. However, it may take a year or even longer before the first retail dispensary opens its doors, says the report. The legislation also establishes a new state agency, the Office of Cannabis Management, which will oversee the licensing of recreational and medical marijuana, as well as hemp-derived products.

During the regulatory transition, the state’s medical marijuana providers will continue operating as usual until the end of the year. Existing rules regarding THC drinks and edibles derived from hemp will mostly remain in effect until next July, when newly created license requirements will come into play.

The bill will now return to the House and Senate for final approval, having already received initial support from both chambers last month.

As Global Cannabis Times reported May 2nd, Gov. Tim Walz has previously stated he’s ready to sign a cannabis legalization bill. “Minnesotans are ready to legalize adult-use cannabis and expunge cannabis convictions in Minnesota,” the Governor said on Twitter on 4/20 “I’m ready to sign it into law.”




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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