Virginia Adult-Use Cannabis Sales Bill Passes

In a recent vote (1), both Virginia’s House and Senate passed similar bills which would form a regulated adult-use cannabis market in their state. This will allow for cannabis sales in the Old Dominion state. Beginning, September 1, 2024, cannabis businesses are able to apply and submit applications for the cultivation of cannabis, testing operations, retail, and processing of cannabis (1). In May 2025, the legal cannabis market will open enabling sales. The new legislation states that cannabis products may be taxed up to 11.65% (1).

Ganjapreneur mentioned that (1), “Lawmakers had previously considered competing cannabis sales proposals but they compromised and consolidated the proposals, dropping provisions that would have reserved space in the adult-use industry for the state’s existing medical cannabis operators, some hemp companies, and equity-focused microbusinesses.”

One of the co-sponsors of the bill that passed in the House was Delegate Paul Krizek (D) (1). Krizek stated that the bill would help form an adult-use market for cannabis in their state in a “responsible and thoughtful way,” according to the Associated Press (1,2). “And we’ve done so because it’s time to give Virginia’s $3 billion illicit market a run for its money. And it’s time to give Virginians access to a safe, tested and taxed product.”

Virginia became the first state to legalize cannabis in 2021 (1,2). Despite this accomplishment, there are still politicians who have supported the plant. Governor Glenn Youngkin (R) has disapproved cannabis reforms in the past and has yet to state if he will sign the new legislation or veto it (1,2).

“I’ve said before, this is an area that I really don’t have any interest in. What I want us to work on are areas where we can find a meeting of the mind and press forward to the betterment of Virginia, and there are so many of them,” Youngkin explained to reporters in January 2024 (2).

References

1. Abbott, G. Virginia Lawmakers Approve Adult-Use Cannabis Sales Bill https://www.ganjapreneur.com/virginia-lawmakers-approve-adult-use-cannabis-sales-bill/?utm_source=newsletter&utm_medium=email&utm_campaign=virginia_passes_adult_use_bills_florida_thc_potency_cap_fails_and_more&utm_term=2024-02-29 (accessed Feb 29, 2024).
2. Rankin, S. Legislation Allowing Recreational Marijuana Sales in Virginia Heads to GOP Gov. Glenn Youngkin https://apnews.com/article/virginia-marijuana-retail-sales-legalized-general-assembly-glenn-youngkin-434c6c8c77433d3ad1c9e4048fa39f7a (accessed Feb 29, 2024).