* THE PROVISIONS MENTIONED IN THIS BLOG DID NOT PASS. THERE WILL NOT BE LICENSE CAPS IMPLEMENTED IN SEPTEMBER OF 2021.
A Medical Marijuana bill introduced in Oklahoma is stirring up quite the debate. Is HB 2272 really bad for small business? We’ll take you through it to decide for yourself.
A new bill, HB 2272 introduced by Rep. West relating to the medical cannabis program is causing concern about what it could mean for small business. Before we dive in, let’s establish those concerns are righteous and valid. It’s important to protect and preserve the integrity of our program, the low barrier for entry, those aspects that make it a gold standard for green rushes, free market cannabis programs across the country and have allowed almost anyone with a dream to enter the market and make something of it.
What does HB 2272 do?
Places caps on medical marijuana business licenses
Prohibits license renewals due to inactivity
Requires dispensary and processor licensees to have a minimum of $5,000 per month in gross monthly sales calculated on a twelve-month rolling average
Requires grower licensees to have under cultivation a minimum of 50 marijuana plants per month, calculated on a twelve-month rolling average
Introduces a voucher system
Establishes a $10,000 fee for vouchers
Authorizes the sale or transfer of business vouchers
Establishes a $2,500 fee for voucher transfers plus an additional $25,000 to the Oklahoma Tax Commission from the purchaser