In November 2012, Colorado residents voted to pass Amendment 64, but now in 2019, we are seeing momentous changes that will play a massive role in evolving the cannabis industry. Let’s take a look at some of the new laws and what that will mean for the state.
House Bill 1230 & 1234
On May 2, HB 1230 was passed through Colorado’s Legislation after The House approved the technical amendments made by the Senate. House Bill 1230 is by far one of the most expansive bills to affect the current cannabis laws.
Under HB 1230, dispensaries would be able to apply for a tasting room license similar to the one used for breweries in Colorado. Businesses such as hotels, restaurants, music venues, art galleries, and yoga studios could apply for private consumption licenses and limited pot sales. However, another component of the bill states that no establishment will be allowed to sell alcohol and allow the use of marijuana.
With the approval of HB 1234, Coloradans will also be able to have cannabis delivered within the next two years. Cannabis delivery will only be for medical marijuana patients to start with, but recreational delivery could begin as early as 2021.
At this point, Governor Jared Polis has not signed either bill yet, though most proponents believe he will provide his official approval. In addition, local governments will have to opt into both programs.
Senate Bill 13
The legislature also passed Senate Bill 13, which is known as the MMJ for opioids bill. If Governor Polis signs the bill, this will allow doctors to prescribe medical marijuana instead of opioid medication which can potentially lead to helping curb Colorado’s opioid epidemic.
An amendment has also been added to the medical marijuana bill that would allow MMJ recommendations from medical personnel with “a valid license to practice within his or her scope of practice.” This will allow physicians, dentists, advanced nurse practitioners, and other advanced healthcare specialists to recommend medical marijuana if it is within their field of practice.
House Bill 19-1090
Although it was passed in May, talks continue in regards to HB 19-1090 which will allow outside investors and publicly traded companies to enter the adult use cannabis market (and hold a license) here in Colorado. By opening this door, supporters state that local companies will have easier access to the funding needed to evolve their businesses and compete within the expanding U.S. cannabis market.
Stakeholders have met to discuss various proposals to shape the details and implementation of HB 19-1090. One area being considered is increasing the amount of securities exchanges open to cannabis companies in Colorado. As for licensing, some workgroup participants want to remove requirements such as applicants showing their last federal income tax return. Others want to go a step further and only require the submission of cannabis-related tax forms and liens. Talks will continue this week.
With Colorado going through many legislative changes that will open the industry to a new level with doctors, recreational use, and out-of-state investors, the Medicine Man Technologies team will be sure to provide updates on the changes in cannabis law.
If you are looking for professional consulting help in regards to the changing Colorado cannabis legal landscape contact Medicine Man Technologies today.