The land of Lincoln could soon become the land of legal recreational cannabis ending its war on cannabis. Governor J.B. Pritzker introduced the legalization bill recently, and if passed it would mean 12.74 million more of the American people would get a modern and functioning cannabis marketplace.
The Massive Bill
Pritzker announced the 522-page legislation bill and Democratic lawmakers would allow individuals with the age of 21 years and above to purchase recreational marijuana in the state of Illinois at any given licensed dispensary.
The state currently has a prohibition on cannabis with only an exception for medical use. However, with the new bill, Illinois residents would have a chance of possessing 30 grams of cannabis as well as grow a maximum of five plants at their homes. The nonresidents will be allowed to possess up to a maximum of 15 grams.
Notably, the plan is to expunge what the lawmakers have estimated to be 800,000 cannabis convictions and hence allow individuals with those convictions to work in the marijuana industry.
Also, there’s a $20 million low-interest loan program for the minority-owned businesses hence promoting social equity in the industry.
The Bill Boasts Support
The bill is an amendment to Senate Bill 7 that is sponsored by state Rep. Kelly Cassidy and state Sen. Heather Steans – both Democrats who had proposed similar measures in 2017 which eventually got turned down under the former Gov. Bruce Rauner who happens to be a Republican.
According to Steans, legalization will surely create state revenue which Illinois needs. For Pritzker, in his gubernatorial campaign equity-centric marijuana legalization was a top aspect of his platform.
Impacted Communities to Benefit
Pritzker notes that 25% of the sales revenue from cannabis will go directly to those communities which have been affected by discrimination in the prosecution of drug laws in the criminal justice system.
Also, 20% of the revenue will be for supporting services that are related to substance abuse as well as mental health. Another 35% will be directed to the state’s General Revenue Fund and another 10% to help Illinois’ stack of unpaid bills.
Several stocks are poised to benefit from the bill including Cresco Labs which is among the most significant cannabis operations in the United States operating in seven states. With its headquarters in Chicago, Illinois would be a key market.
Green Thumb Industries (GTI) is the other company to benefit in Illinois as it already has operations in 12 states. MariMed, a cannabis and hemp operations in America which initially provided advisory services to marijuana businesses will be another one to benefit.
However, as much as those stocks are poised to benefit, still there’s some unfished business. The bill has to pass both the houses of the state legislature.
Currently, it’s pretty likely that Illinois is to become the 11th state legalizing recreational pot with Democrats enjoying majorities in the House of Representatives as well as the Senate. Given that there hasn’t been any success for any effort to legalize by the legislature, the resistance will be immense. So the question stands, will Illinois overcome the opposition?
Why the ACMPR Is So Popular with Medical Marijuana Patients in Canada
Depending on your home country, accessing medical marijuana may just be easier than ever for you. This is the case for North Americans, Canadians in particular. Since the early 2000s, Canada has been successfully implementing a medical marijuana program for patients called the ACMPR.
Although this program (also referred to as the MMPR and MMAR in the past) has been around in some form or another for decades, it is continuing to grow in popularity. But why? It’s not just because Canadians want an excuse to grow cannabis plants from home…
What Is the ACMPR?
Before discussing the growing popularity of the ACMPR program, it’s important to have a solid understanding of what it actually is. ACMPR stands for Access to Cannabis for Medical Purposes Regulations. For those who are eligible and have a valid medical condition that requires the use of cannabis for treatment, the ACMPR allows for easy access to cannabis.
Not only does it allow medical patients to easily access medical-grade marijuana from licensed producers throughout the country, but it allows patients to cultivate their own plants from home. Unlike the recreational cannabis laws which allow citizens to grow no more than 4 plants from home, the ACMPR determines plant counts based on medical needs.
Canadians who use the ACMPR license to grow from home have a predetermined plant count based on the number of grams prescribed per day. For example, if you receive a prescription…
Why Buy From Marijuana Seed Banks?
If you’re interested in growing marijuana and live in a state that allows its cultivation, then you might want to consider buying seeds from seed banks. Some of the best cannabis get cultivated outside the country, which means that, sometimes, you have to find a seed bank that ships to the US.
There are a lot of options when it comes to sources for marijuana seeds online. However, not all of them can ship to the US due to strict regulations in the country. Thus, it’s best to find a legit seed bank that can process orders from United States customers.
Avoid transacting with other sources aside from seed banks. If you do so, you run the risk of receiving low-quality products, wasting your money in the end. Look for a company with positive feedback and has a proven history of dealing with US customers. Some of the most popular ones include Seedsman and I Love Growing Marijuana (IGLM). You can check out GreenBudGuru’s Seedsman review and their review of other companies to find the best fit for your needs.
If you’re looking to get your seeds online, below are some reasons you should buy marijuana seeds from a trusted and reliable marijuana seed banks.
You Don’t Have Any Other Option
As mentioned above, some states in the US still don’t allow local buying and selling of marijuana, even if medical marijuana consumption has already gained momentum. If…
22nd Century Group Inc (NYSE:XXII): 3 Reasons You May Want To Buy The Stock This Month
The tobacco industry is huge and growing. The cannabis industry is already booming yet it is only in the early stages of development and the future looks incredibly bright as more countries legalize pot. 22nd Century Group Inc (NYSE:XXII) is the stock that offers investors the chance to own the best of both tobacco and cannabis worlds.
The stock currently trades at $1.00/share. But that is not where it belongs as that is its lowest watermark. As recently as September, NYSE:XXII was trading above $2.40/share.
For investors who may have just come across 22nd Century Group for the very first time, here is a brief profile of the company. 22nd Century Group is a plant biotechnology company and a leader in tobacco harm reduction. It has also set its sight on the legal hemp and cannabis industries. In the tobacco space, NYSE:XXII has developed a low-nicotine tobacco plant variety. In the hemp/cannabis space, the company is working to develop hemp and cannabis plants with specific desirable qualities.
If you are looking to have a footing in both tobacco and cannabis industries, here are three reasons you may want to buy NYSE:XXII.
- 22nd Century Group on track to take control of CBD products maker Panacea Life Sciences
On December 3, 22nd Century…