CA Gov. Gavin Newsom signs bill to eliminate marijuana cultivation tax
official news (D) affix signature A sweeping bill, AB 195, aimed at eliminating the hemp cultivation tax went into effect Thursday.
solution which builds on its revised budget proposal, before the Progressed through both Chambers last week.
“We will continue to look like California with progressive and responsible governance while building a better future for all,” Newsom said.
The purpose of the measure is Reducing the influence of illegal operators, reducing pressure on licensed operators and promoting competition in the formal market.
Key changes include setting the agricultural tax rate to zero effective July 1, 2022; Shift of collection and payment location for excise duty from distribution to retail as of January 1, 2023 – retention of excise duty rate of 15 percent; and “Strengthening tax enforcement policies to improve tax compliance and collection and reduce unfair competition.”
Pennsylvania Cannabis Banking Reforms Head of Government’s Desk as Part of Comprehensive Bill
A measure that includes a provision to protect banks and insurers from penalties by state regulators for working with state-licensed medical cannabis companies has been passed by the Pennsylvania legislature and is moving forward. Government Tom Wolfthe desk.
House Bill 311 was passed by members of the House of Representatives on Friday by a vote of 173 to 27, Marijuana Moment reported.
As a standalone law, censorship-sponsored Cannabis Reform Act. John Disanto (Around Sharif street (d) was The State Senate passed earlier this year.
DiSanto filed the appeal as an amendment HB311The draft law that has now been passed deals with the question of the authorization of certain financial institutions to implement savings incentive programs.
“These financial institutions and insurance companies must continue to comply with the rules and regulations that apply to all of their other customers and consumer protection laws in the Commonwealth,” said the House Majority Leader Kerry Benninghoff (R) said.
Hemp remains legal in North Carolina as Gov. Cooper signs the bill into law
Governor Cooper signed legislation Thursday that would keep hemp legal in the state.
Senate Bill 455, First Approved by the State General Assembly by a vote of 41 to 2 Aligns state hemp law with federal law, legalizing the production and sale of products like industrial hemp and CBD.
Although North Carolina was legalized under federal law under the 2018 Farm Bill, it only allowed cannabis cultivation under an earlier pilot program scheduled to expire on June 30.
Cooper said in a press release, “Agriculture is North Carolina’s largest industry and ensuring North Carolina farmers can continue to participate in this growing market is right for rural communities and our economy.” to protect banking, or money for legalized cannabis companies, or to protect insurers.”
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