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Cannabis Regulation Streamlined by Removing Unnecessary Provisions in Colorado

Dive into Cannabis Regulation Bill SB24-76

  • Opens Doors for Interstate Trade: It allows for the export and import of genetic material between licensed cannabis operators and authorized entities in other states or countries, setting the stage for a broader exchange of genetic diversity and innovation.
  • Simplifies Licensing Procedures: From 2026, cannabis operators holding multiple licenses can leverage a unified application process, a help for businesses dealing with administrative procedures.
  • Eases License Renewal Requirements: The frequency of license renewals shifts from annual to biennial, though local governments may insist on yearly renewals.
  • Expands Retail Possibilities: Cannabis retail outlets can now sell non-marijuana consumable products, like food and beverages, provided they don’t exceed 20% of the store’s revenue.
  • Modifies Owner Requirements: The new rules scale back the previously mandatory MED badging to include only controlling beneficial owners with direct access to cannabis.
  • Revises Tracking Tech: By 2027, advancements in tracking technologies could eliminate the need for RFID tags in tracking regulated marijuana.
  • Updates on Decontamination: Licensed operators can now transfer cannabis for decontamination purposes without invoking the excise tax typically associated with wholesale transfers.
  • Enhances Product Testing: The bill encompasses provisions for cannabis testing, remediation, and the labeling of remediated products, addressing crucial aspects of product safety and transparency.
  • Promotes Economic Incentives: Businesses situated in state-designated enterprise zones are eligible for the same tax credits available to other legal enterprises.

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