State Agencies Enact Regulations to Improve Banking Access for Cannabis Industry
On February 1, 2021, regulations set forth by the California Department of Food and Agriculture, Department of Cannabis Control and Department of Public Health to implement Assembly Bill 1525 were approved by the California Office of Administrative Law and put into effect. The adopted regulations provide a mechanism for licensees to request that state licensing […]
Meital Manzuri Comments on Cannabis Policy Reform Under a Biden & Harris Administration
Meital Manzuri was recently quoted in A.J Herrington’s article “Post-Election Outlook for Federal Cannabis Legalization Uncertain,” which was featured in the November/December 2020 edition of Cannabis Connections of Maine. The article focuses on the potential changes to cannabis policy under the leadership of Joe Biden and Kamala Harris. Meital offered her insight on the topic: […]
Two Important Pieces of CA Legislation Explained: CDFA’s Appellations Program and BCC’s Rules for Denial of Licensure Based on Prior Convictions
In response to their statutory mandates, California cannabis regulators have worked this year on draft regulations for the cannabis appellations program and implementation of AB 2138 (Chiu) regarding the rules for denial of licensure based on prior convictions. Under SB 67, the California Department of Food and Agriculture (CDFA) must finalize their standards on the appellations of […]
Newsom Decides on 2020 Cannabis Bills
Regardless of how tumultuous a year is, statutory deadlines remain the same, and thus we have reached the end of another legislative session. Governor Newsom delayed publishing decisions on most bills this year due to the wildfires throughout the state but has finally issued approvals or vetoes to all pending legislation. Most 2020 cannabis legislation […]
IRS Confirms 280E will Continue to Plague Cannabis Businesses While Proposed Bills and Legal Challenges Remain Pending
In September 2020, the IRS released updated guidance on the taxation of cannabis businesses. Of note, the guidance confirmed that Section 280E of the Internal Revenue Code, which prohibits cannabis businesses from claiming any deductions or credits to their taxable income, does not prevent such businesses from reducing their gross receipts by their cost of […]
Much Ado About the DEA Interim Final Rule; What’s The Deal With Hemp?
On August 21, 2020, the Drug Enforcement Administration (DEA) published an interim final rule (IFR) to implement hemp-related amendments to the Federal Controlled Substances Act (CSA) that were made by the Agricultural Improvement Act of 2018 (the “2018 Farm Bill”). According to the DEA, this IFR “merely confirms [the agency’s] regulations to the statutory amendments […]
Meital Manzuri Covers Assembly Bill 1525 for the Los Angeles and San Francisco Daily Journal
Meital Manzuri’s article “Bill Opens Bank Doors to Cannabis Operators (Read the Fine Print)” was published in the Los Angeles and San Francisco Daily Journal on September 16, 2020. In the piece, Meital discusses Assembly Bill 1525, which was recently signed into law by California Governor Gavin Newsom and allows financial institutions to work with […]
Stakeholders Push for CA Regulators to Consider Creating Statewide Retail Ordinance for Locals to Opt Into
A new report commissioned by Weedmaps and the California Hispanic Chamber of Commerce estimates that California’s total taxable cannabis sales could reach $9.8 billion if the market was allowed to reach its full potential. Nearly four years after legalization through Prop 64, the illicit market still dominates the state’s cannabis sales. In 2019, taxable cannabis […]
California Allows Proxy Voting as End of Session Looms Amidst Pandemic
With multiple legislators contracting COVID-19, the Legislature recently confirmed that some voting will be done remotely in the next month. The new rule was crafted to make sure some legislation is passed before the constitutional deadline of August 31 for the 2019-20 two-year legislative session. If bills are not passed by both houses by that […]
An End to the FDA Bottleneck? Recent Developments in the Federal Regulation of CBD
Both consumers and members of the industry have been eagerly waiting for the FDA to provide clarity as to the regulatory future of Cannabidiol, more commonly known as CBD. This overwhelming public interest has translated into substantial, bipartisan political pressure at the highest levels of government. Both the Senate Majority and Minority Leaders have made […]