Adult-use cannabis is brewing in Florida, Virginia

March 28, 2024 · Green Market Report

Despite disagreements between executive branches and the arbiters of recreational bids in front of them, two states may soon become part of the growing legion of legal cannabis markets.

A citizen-led initiative in Florida is awaiting final approval to appear on the November ballot, while Virginia’s governor has yet to make a decision on a bill that may still slink past him into law.

Florida

The decision on whether the adult-use question will go before voters this fall is in the hands of the the Florida Supreme Court, which is expected to announce if it will green light (or not) the latest effort. The court has until Monday to decide.

Gov. Ron DeSantis has gone on record saying he believes the court will let it fly, despite his criticisms and opposition from his appointee and political ally, Florida Attorney General Ashley Moody.

“I think the court is going to approve that,” DeSantis said at his last presidential campaign rally before dropping out earlier this year. “So, it’ll be on the ballot.”

Critics argued the proposal’s language is misleading, but experts said it was refined and carefully vetted after previously failures.

If approved, the measure will still need 60% approval to pass. Going by the numbers ($40 million so far), it’s safe to say this bill is more-so Trulieve’s bill. Public opinion varies, with some polls showing strong support and others indicating it might not meet the 60% threshold.

The legislature coincidentally sent a new bill to DeSantis this month that sets strict limits on the amount of THC allowed in hemp-derived products and bans the sale of delta-8 THC. It also included tighter controls on other THC variants (such as THCA) and products that can cause intoxication.

The adult-use measure, as it’s written, would be a catalyzing boon for existing medical outfits, some of which have been securing new funds in anticipation.

Virginia

Virginia’s a bit more complicated than Florida.

Technically, Gov. Glenn Youngkin could sign or veto the cannabis bill recently sent to his desk, SB 448, which would legalize retail sales in the state by May 2025.

But the situation’s a bit unusual. In many states, governors can block a bill by not acting on it (pocket veto), but not in Virginia. If Youngkin does nothing within 30 days after the legislature ends, the bill automatically becomes law.

Youngkin hasn’t shown much interest in cannabis laws before. However, the idea that he might just sit on the bill to avoid upsetting a large number of Virginians who favor cannabis reform – while also giving the appearance of not actively supporting it – seemed more likely as the session drew near.

The tactic looked like an effort to influence negotiations related to moving two major sports teams to Northern Virginia, as some Democrats suggested they might support the move if the cannabis bill is approved. But that deal apparently fell apart, and funds for the arena project didn’t materialize in the budget by the time the session ended.

The governor has remained vague about his decision, though.

“I don’t plan on signing that bill,” he told WTKR last week. “I had somebody ask me the other day, ‘Are you going to sign the legislation?’ and I’ve been talking about this for 60 days and I said, ‘Anybody who thinks I’m going to sign that legislation must be smoking something.’”

Virginia also recently banned hemp intoxicants via the courts. (Full Story)

In category:Legalization
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