Marijuana industry

States use tax proceeds in a way that appeals to voters because recreational marijuana is often legalized through a referendum process.

Moves to reschedule marijuana down to a Schedule III drug would lower taxes local cannabis businesses pay.

The Secure and Fair Enforcement (SAFE) Banking Act of 2023, introduced in both the House and Senate would allow regulated banks to work with state-legal cannabis companies.

The state stands to become the 19th to legalize non-medical use of cannabis and along with it up to $97 million of new tax revenues by fiscal 2026.

Lawmakers could not enact the bill on the final day of the regular session, when House Republicans threatened a filibuster.

New Mexico joins neighboring states Arizona and Colorado in legalizing marijuana sales with an eye toward higher state revenue.

Lawmakers packaged revenue, social justice and market positioning while flexing political muscle when they voted to legalize marijuana.

In their state of the state addresses, the two governors discussed bringing in more revenues.

Eight measures in five states to legalize marijuana and in three states offering tax breaks for veterans received universal approval.

The governor cited budget and social justice benefits from a measure to legalize cannabis, which officials say could bring in $600 million of new revenues.

One example of the growth of the industry is the nearly tenfold increase in Colorado’s marijuana tax revenue to $250.7 million in 2018 from $25.3 million in 2014.

Rhode Island's governor is asking lawmakers to forward $269 million worth of initiatives to voters.

In Massachusetts, cannabis regulation fuels a corruption investigation; in Rhode Island, it pits the executive branch against the legislature.

Jasiel Correia II, accused separately of shaking down marijuana vendors and defrauding investors, still finished a distant second in the Fall River race.

Fall River Mayor Jasiel Correia II pleaded not guilty in Boston to charges of extorting state-licensed marijuana vendors for six-figure bribery amounts.

Researchers at the Pew Charitable Trusts warn local governments that cannabis revenue flows are uncertain.

States struggle to reap the full benefits of the multibillion-dollar legal marijuana industry becuase of conflicts with federal law.

Deputy Governor Dan Hynes says the recent legislative session put the state on an "upward trajectory," but underfunded pensions dog the state.

Lawmakers authorized more than $23 billion of borrowing and approved a $45 billion six-year capital plan.

New Jersey Gov. Phil Murphy and a coalition of state lawmakers agreed to legalize recreational marijuana in a package that sets out tax rates.