Nevada Enacts Comprehensive Cannabis Reform, Expanding Possession Limits and Easing Industry Restrictions

NEVADA– In a significant development for the cannabis industry, Nevada Governor Joe Lombardo, a Republican, signed an omnibus cannabis bill into law last week. The new legislation, which was sponsored by state Senator Dallas Harris, a Democrat, brings about several changes that are poised to reshape the cannabis landscape in the state. These changes include an increase in the personal possession limit and the removal of certain industry restrictions, as reported by Marijuana Moment.

Effective immediately, the newly enacted law raises the purchasing and possession limit for individuals. Previously, the limit stood at one ounce of cannabis flower, but it has now more than doubled to two and a half ounces. Similarly, the possession limit for cannabis concentrate has increased from an eighth of an ounce to a quarter of an ounce.

In addition to these revisions, the legislation addresses various regulations governing the cannabis industry. One significant change is the elimination of the requirement for adult-use shops to hold a medical license in order to serve medical cannabis patients. Starting from January 1, 2024, the law also prohibits the issuance of any further medical cannabis licenses, except in regions where adult-use sales remain prohibited.

Another key aspect of the bill is the reduction of cannabis licensing and renewal fees, providing potential financial relief to industry participants. Furthermore, the law grants the Nevada Cannabis Compliance Board the authority to consider granting cannabis industry licenses to individuals with past felony convictions. However, such decisions will be made on a case-by-case basis, with the board first assessing that granting a license would not pose a threat to public health or safety, nor negatively impact the cannabis industry within the state.

Recognizing the evolving nature of the cannabis landscape, the legislation mandates the state’s Cannabis Advisory Commission to investigate the potential impact of removing cannabis from both the federal Controlled Substances Act and the Nevada Uniform Controlled Substances Act. This proactive approach aims to assess how such changes could influence the industry in Nevada.

Additionally, the new law requires officials to consider the environmental implications of future changes to the cannabis industry. It emphasizes the need to mitigate or offset any potential harmful outcomes that may arise as the industry continues to evolve.

The latest statistics reveal the continued growth and economic significance of Nevada’s cannabis industry. Retail sales for the fiscal year 2022 reached nearly $1 billion, indicating a thriving market that holds promise for both entrepreneurs and the state’s economy.

With the enactment of this comprehensive cannabis reform, Nevada is poised to make significant strides in its approach to cannabis regulation. The expanded possession limits and eased industry restrictions are expected to have a positive impact on both consumers and businesses, providing new opportunities while ensuring public safety and environmental considerations remain at the forefront.

The new law aims to streamline regulations, improve access to cannabis products, and address important considerations such as social equity, environmental impact, and industry development. By enacting these changes, Nevada seeks to further support the growth and sustainability of its flourishing cannabis market.