Nevada Lawmakers Pass Cannabis Reform Bill, Awaits Governor’s Signature

1.5 min readPublished On: June 12th, 2023By

 

LOS ANGELES– Nevada lawmakers have granted final approval to a comprehensive cannabis reform bill that introduces several significant changes to the state’s cannabis industry. Senate Bill 277, as reported by Forbes, encompasses the following key provisions:

Increased Purchase Limits: The bill raises the daily purchase limits for recreational consumers from one ounce to 2.5 ounces of flower and from 1/8 ounce to 1/4 ounce of concentrates.

Access for Medical Cannabis Patients: Adult-use cannabis dispensaries will now be permitted to sell products to registered medical cannabis patients, expanding access and options for patients.

Opportunities for Individuals with Felony Records: SB 277 allows individuals with certain felony records to obtain marijuana business licenses and/or employment in the cannabis industry, fostering inclusivity and providing opportunities for those seeking to participate in the sector.

Having been passed by the legislature on June 5, the bill is now awaiting the signature of Governor Joe Lombardo to become law.

State Senator Dallas Harris, the primary sponsor of the bill, emphasized the intention to increase possession limits and offer the option for bulk purchasing, whether for medical purposes or personal use. The reforms aim to accommodate various consumer needs while respecting individual privacy.

This move reflects Nevada’s ongoing commitment to implementing business-friendly regulations for the cannabis industry, which aligns with the state’s tourism-driven economy. Notably, Nevada has been at the forefront of marijuana consumption lounges, pioneering a model where licensed establishments resemble traditional bars. Budtenders can sell single-serve cannabis products to patrons, who are then allowed to consume the purchased items on-site. This approach differs from that of most other states, where consumption lounges require patrons to bring their own cannabis.

Nevada’s progressive stance on cannabis regulation and its efforts to create an inclusive and consumer-friendly environment continue to position the state as a leader in the industry.

About the Author: HCN News Team

The News Team at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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