State regulators are finalizing plans to expedite marijuana sales to adults.
Under the plan, existing medical dispensaries will receive dual licensing to sell cannabis to adults by mid-June — months ahead of schedule. (State lawmakers approved medical cannabis access in 2016.)
“The sooner consumers have market access to cannabis products, the more quickly we will begin to see disruptions to the unregulated marketplace,” NORML’s Deputy Director Paul Armentano said. “Retailers provide consumers with the option of obtaining lab-tested products in a safe, regulated environment.”
Adult-use marijuana sales will be subject to a ten percent excise tax in addition to an existing 5.75 percent sales tax. Sales are anticipated to generate between $276.2 million to $403.6 million in annual cannabis tax dollars within five years.
Voters in November approved a citizens’ initiated measure (Issue 2) legalizing the possession, home cultivation, and retail sale of cannabis for those age 21 or older. Provisions in the initiative’s called upon regulators to begin issuing retail licenses by late 2024.
Following the vote, several of the state’s leading Republicans moved to pass legislation gutting many of the initiative’s key provisions. Those efforts stalled after NORML and others generated thousands of communications urging legislators to enact Issue 2 as written.
Twenty-four states have legalized the adult-use marijuana market. Ohio was the 14th do so by a public vote.
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