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US: Tax cuts to cannabis: What's in Virginia's budget deal?

After months of closed-door negotiations, lawmakers have released a budget deal that includes significant tax cuts, pay raises for state employees, and new investments in education. It also addresses cannabis policy and lays out a plan for the possible approval of another casino in Virginia. 

The budget deal revisits further regulation of certain products containing THC and some penalties for adult-use cannabis. These topics were previously addressed in legislation that died after undergoing significant debate earlier this year.

The budget language is considered a temporary fix until a new bill can be introduced, which may not happen until next year. A spokesperson for Youngkin declined to comment when asked if he plans to send down fresh legislation for consideration when lawmakers return to the State Capitol.

The compromise creates new labeling and testing requirements for industrial hemp products. It bans the sale of edible substances containing THC to anyone under 21 years of age, with certain exceptions related to medical cannabis. It also prohibits the sale of products sold in “certain child-friendly shapes or that are counterfeit products.” 

To read the complete article, go to www.wavy.com

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