Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

US (RI): Senate leaders propose recreational cannabis with 20% tax rate

Rhode Island Senate leaders have introduced a bill that would create a system to tax and regulate recreational cannabis, with potentially dozens of private retail stores across the state.

The bill, introduced by Senate Health & Human Services Committee Chairman Josh Miller and Majority Leader Michael McCaffrey, would make it legal for adults ages 21 and older to possess up to one ounce of cannabis in Rhode Island. It would also allow people to grow the plant at home.

“Cannabis legalization is a monumental shift in public policy that effectively creates a new economy,” Miller, D-Cranston, said in a statement. “We want to ensure as many Rhode Islanders as possible have the opportunity to participate in this new economy.”

During a briefing with reporters, Miller said the legislation was designed with the goal of making the legal cannabis market “as entrepreneurial as possible.”

Read more at wpri.com

Publication date: