marijuana companies

governor signs pro new jersey marijuana bill

Since mid-summer 2019, New Jersey attempted to create a plan for marijuana companies in the area. And the amount of New Jersey marijuana dispensary licenses continued to increase until the beginning of 2020. This medical cannabis program is still a competitive field to enroll in, as there are only a few marijuana companies that end up being deemed eligible for a marijuana license. Overall, New Jersey continually tries to improve its rapidly growing marijuana business industry, as more and more medical marijuana dispensaries seek for a grant under the current law.

Back in 2019, only 24 permits were enacted, with several applications in New Jersey. As such, we’ve seen that there were five marijuana dispensaries licensed, along with two cultivation and one integrated marijuana company for each region. Thus, the northern, central, and southern New Jersey had 24 marijuana permits and one at-large vertically integrated permit. The general rule in this area is that every individual or business that seeks an official license to cultivate or distribute medical marijuana is permitted to request up to three permits. Yet, everyone is allowed to request only one application per region.

This comes from the events that developed back in July 2019. At that time, New Jersey Governor Phil Murphy signed a pro-business medical cannabis expansion bill. And we can say with certainty that during the past months this benefited the marijuana companies greatly in New Jersey. New Jersey struggled a lot with legislation concerning legalizing recreational marijuana. But as soon as the governor approved the bill, there was a notable development for both New Jersey marijuana dispensaries and marijuana companies.

consume  This new New Jersey marijuana law makes room for several changes meant to boost the licensing process and enable patients to access the best New Jersey marijuana dispensaries. The goal is to create a safe environment for the production, cultivation, and distribution of marijuana-related products so that the highest quality is ensured. Murphy’s administration aimed to:

  • Design individual cultivation, production, and dispensary licenses in order to allow every interested party to request and be evaluated for a cultivation permit.
  • Create a three-year plan in which the New Jersey marijuana business sales tax will phase out by at least 6%.
  • Create a Cannabis Regulatory Commission with the purpose of managing and ensuring the quality of the products distributed by businesses enrolled in the MMJ program.
  • Enable all medical practitioners to recommend medical marijuana as a means of treatment. Until 2019, only doctors were legally allowed to prescribe cannabis as a treatment. The new legislation enables physician assistants and advanced-practice nurses to suggest it, too.

Overall, the New Jersey governor is working towards creating a safer environment for both patients and marijuana companies. The purpose is to ensure that everyone gets access to qualitative and not-dangerous marijuana products. And we can say that these changes in the legislation allowed more marijuana companies to get licensed, which in turn added in the quality of their products and manufacturing practices.