Yesterday the DEA published a final rule providing for a new drug code for “Marihuana Extract” . The DEA states that this will allow them to track quantities of “Marihuana Extract” separately from marijuana to aid in the compliance with relevant drug treaties. This new rule is set to become effective on January 13, 2017. The
Import/Export Issues
Ninth Circuit ruling upholds Congress de-funding of DOJ enforcement actions against state-legal medical marijuana businesses
A favorable ruling from the Ninth Circuit in United States v. McIntosh is a reassuring win for the medical marijuana industry. This federal case concluded that § 542 of the Consolidated Appropriations Act prohibits DOJ from spending money on actions that prevent medical marijuana states giving practical effect to their state laws that authorize…
Colorado General Assembly Makes it Easier for Out-of-State Investors to Provide Capital for Marijuana Businesses
On June 10, 2016, Governor Hickenlooper signed bill 16-040 which removes the Colorado two year residency requirement to obtain a marijuana business owner license, ultimately easing the burden for prospective out-of-state investors to become owners. The Colorado General Assembly’s intent in creating this bill was to provide marijuana businesses with the economic capabilities to grow…
2016 Federal Budget Approved – State MMJ Programs and Industrial Hemp Provided Protection
President Obama approved the 2016 federal budget and it contained a prohibition that none of the funds made available to the Department of Justice may be used, with respect to any of the States that have state-legal medical marijuana programs, to prevent any of them from implementing their own laws that authorize the use, distribution,…
DEA Polices on Medical Marijuana “Defies Language and Logic” as Ruled by Federal Court in California
This ruling is a definitive win for medical marijuana business that are operating consistent with state regulations. The Rohrabacher-Farr amendment to last year’s spending bill lists the states that have medical marijuana laws, and mandates that the DOJ is barred from using federal funds to “prevent such State from implementing their own State laws…
Cannabis Derivative Market Value to Grow Over $20.7 Billion by 2020
BIS Research has published the North American Cannabis Market – Analysis and Forecast Through 2015-2025 estimating “the cannabis derivative market value to grow over $20.7 billion by 2020 at an estimated CAGR of 29.80% from 2014 to 2020.”
So what does this mean?
There is an old adage that it wasn’t the gold miners that…
10th Circuit Rules Bankruptcy Code Does Not Protect Marijuana Businesses
The 10th Circuit court ruled on August 21, 2015, that neither Chapter 7 nor 13 is available to a marijuana business owner. The court stated that because of “the federally illegal marijuana based income stream, the debtors cannot fund a plan without breaking the law, and are therefore ineligible for relief under Chapter 13.”…