The Importance of Consumer Education
Posted on October 8th, 2020 to Cannabis
On Wednesday (10/7/20), Vermont Governor Phil Scott allowed a bill to tax and regulate Cannabis to pass into law without his signature, and signed off on automatically expunging records for cannabis possession. Beyond having been a part of the discussion since 2013, this is a momentous week for the people of the State of Vermont.
The Adult Use Bill (S. 54) sets up a system for the legalized retail sale of cannabis and requires municipalities to opt-in to allow retail cannabis stores to operate. It imposes a 14% excise tax and a 6% sales tax on cannabis transactions. Municipalities receive a share of the state’s cannabis licensing fees. Sales are expected to begin in 2022.
The bill also contains language creating social equity provisions – such as prioritizing cannabis business licenses for minorities, women and people disproportionately impacted by the War on Drugs. A – as of yet nonexistent – independent regulatory commission would additionally be created to promote small business participation in the market.
Here’s some of the basic info around S.54:
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