Energy & Environmental Law Adviser
Product Liability & Mass Torts Blog
Employment Law Landscape
Strafford Publications, Inc.
Schiff Hardin Employment Law Landscape
Schiff Hardin Energy & Environmental Law Adviser
On November 3, Arizona voters passed the Smart and Safe Arizona Act (Proposition 207) by a wide margin, becoming the 13th state to legalize recreational marijuana for adult use. This is considered a huge victory in the nationwide legalization efforts.
Schiff Hardin Product Liability and Mass Torts Blog
As more states take steps to legalize cannabidiol (CBD) and marijuana, there are many outstanding questions for potential landlords of cannabis-related businesses.
A potent federal statute designed to take down organized crime looms large over the legal cannabis industry. The Racketeer-Influenced and Corrupt Organizations Act (RICO) was enacted in the 1970s to fight the mob with a declared purpose to “seek eradication of organized crime in the United States.”
While the latest guidance on regulating financial services for hemp businesses may feel like a turning point, current banking regulations will likely continue to inhibit hemp businesses from integrating into the mainstream financial system.
New Jersey has legalized adult, recreational cannabis use. With more than two-thirds of voters in favor of amending the state Constitution, it became the first in the Tri-State region to permit recreational marijuana use.
In November 2020, Montana joined Arizona, New Jersey, and South Dakota in legalizing recreational cannabis use.
All eyes in the cannabis industry will be watching an upcoming case before the Ninth Circuit Court of Appeals that could dramatically ease the tax burden of cannabis entrepreneurs, who pay tax rates many times higher than most non-marijuana businesses.