US (CA): State offers $100 million to rescue its struggling legal cannabis industry

The California Legislature on Monday approved a $100-million plan to bolster California’s legal cannabis industry, which continues to struggle to compete with the large illicit pot market nearly five years after voters approved sales for recreational use.

Los Angeles will be the biggest beneficiary of the money, which was proposed by Gov. Gavin Newsom to be provided as grants to cities and counties to help cannabis businesses transition from provisional to regular licenses.

“California voters approved Proposition 64 five years ago and entrusted the Legislature with creating a legal, well-regulated cannabis market,” said Assemblyman Phil Ting (D-San Francisco), the chairman of the Assembly Budget Committee. “We have yet to reach that goal.”

Many cannabis growers, retailers, and manufacturers have struggled to make the transition from a provisional, temporary license to a permanent one renewed on an annual basis—a process that requires a costly, complicated, and time-consuming review of the negative environmental effects involved in a business and a plan for reducing those harms.

Read more at latimes.com.


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