Medical Marijuana

Utah campaign fundraiser on September 17 in Denver

Join us in Denver on September 17 for a fundraiser in support of the Utah medical cannabis campaign!

This November, Utah will vote on a medical cannabis ballot initiative (Prop 2). While most polls suggest that the initiative will pass, a strong opposition campaign has recently emerged. The Utah Patients Coalition — the campaign working to pass Prop 2 — needs your support. We anticipate a misleading opposition ad campaign over the next two months, and the Utah Patients Coalition needs resources in order to present voters with the facts.

So please join MPP’s Deputy Director Matt Schweich for a fundraiser in Denver on Monday, September 17 from 5:30 to 7:00 p.m. MT. Law firm Vicente Sederberg is kindly hosting an event at its office. I will provide a briefing on the campaign and answer your questions. Attendees are encouraged to make a $50 donation to the campaign. Contributions will be accepted at the door, or you can make them online.

WHAT: Briefing on the 2018 Utah medical cannabis ballot initiative

WHEN: Monday, September 17, 5:30-7:00 p.m.

WHERE: Vicente Sederberg, 455 Sherman Street, Suite 390, Denver

We look forward to seeing you in Denver!

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Join MPP at the Second Annual Cannabis Law Institute September 7 and 8 in Washington, D.C.

This year, the National Cannabis Bar Association’s Second Annual Cannabis Law Institute will take place on September 7 and 8 in Washington, D.C. at the George Washington University Law School.

Featuring some of the nation’s leading attorneys, academics, and politicians, this event will convene the best minds and visionaries working in the cannabis industry and reform movement for two days of panels and discussion. Programming is focused on education for attorneys, and you can receive 11+ CLE credits for select jurisdictions. Evenings will feature networking events.

We’re excited to announce that MPP’s Deputy Director Matt Schweich will be moderating the panel discussion on Federalism & States’ Rights, which will also include MPP’s Director of Federal Policies, Don Murphy.

You’re invited to attend by registering here. Use the code “friendsofncba” to receive $200 off the full ticket price, and if you are a member of NCBA, you get an additional $100 off.

With over 60 speakers and panelists from organizations like the Brookings Institution, the National Cannabis Industry Association, Americans for Safe Access, and leading cannabis law firm Vicente Sederberg, the conference will address the most challenging areas of law as they relate to the cannabis industry, including banking, tax, finance, intellectual property, labor and employment, corporate governance, and more. Congressmen Earl Blumenauer of Oregon and David Joyce of Ohio will also be in attendance as part of the keynote conversation on Friday morning.

If you live in the D.C. metro area, you don’t want to miss this important event. We hope to see you there!

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Tax and Regulate

Colorado Sees More Than $1 Billion in Marijuana Sales in 2016

picstateflag_1Legal marijuana businesses in Colorado made more than a billion dollars in sales during the first 10 months of 2016, exceeding sales numbers from last year.

The Cannabist reports:

Recreational and medical cannabis shops in America’s first 420-legal state have sold nearly $1.1 billion of marijuana and related products in 2016, according to the new October data from the state’s Department of Revenue.

When 2015’s year-end marijuana tax data was finally released in February, Cannabist calculations showed $996,184,788 in sales at Colorado marijuana shops that year — spurring a leading industry attorney to tell us at the time, “I think it’s ethical to round that up to a billion.”

That same lawyer, Vicente Sederberg partner Christian Sederberg, celebrated the billion-dollar news on Monday by also pointing to the Colorado cannabis industry’s increasing economic impact and skyrocketing tax revenues for the state as well as numerous cities and counties throughout Colorado.

“We think we’ll see $1.3 billion in sales revenue this year,” said Sederberg, “and so the economic impact of this industry — if we’re using the same multiplier from the Marijuana Policy Group’s recent report, which is totally reasonable — it suddenly eclipses a $3 billion economic impact for 2016.”

In addition to creating economic benefits, including state and local tax revenue and thousands of jobs, this legal market is on pace to continue stripping billions of dollars a year from the criminal market.

 

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