Alabama Has Voted To Legalize Cannabis
As marijuana stocks continue to build more momentum in the market the industry overall is reaching new heights. The cannabis industry especially in the U.S. has continued to show growth and innovation. Right now a big push for federal reform is still taking place. As of today, cannabis is still illegal under federal law. However, many leading politicians both democrat and republican figures are standing up for policy change in regards to federal reform.
With federal reform, it would allow for U.S.-based cannabis companies to work with abroad cannabis companies. Some advocates feel that federal reform will be the last true hurdle the cannabis industry will face on its way to reaching its full potential. With better legislation in place, it will only help cannabis companies to run more efficiently. As well as to conduct business that was once against federal law.
Once cannabis is no longer illegal in the eyes of the federal government the SAFE Banking Act is next up. The SAFE Act is passed would allow financial institutions the ability to work with cannabis businesses without fear of breaking the law. However, these 2 pieces of legislation have yet to be passed but on a state level, much progress has taken place.
Right now more than half of the United States has legalized cannabis in some form. As more states vote to go legal, it adds a bit more of a squeeze on congress to end cannabis prohibition. More states going legal and creating no markets as well only adds more value to the industry. I recent news the passing of a new state has made industry headlines. Below we will discuss Alabama becoming the newest state to legalize marijuana in the state.
[Read More] Minnesota Cannabis Bill Has Been Approved By The House
Alabama Has Legalized Marijuana In 2021
This past Monday Alamba became the most recent state to legalize cannabis once the governor signed his name on to the bill. Gov. Kay Ivey shortly after this bill was passed indicated that she planned to sign it after “thoroughly reviewing it.” Yet while there was an overall expectation that she would suggest revisions, she signed it as it was.
The bill was passed with a 2 to one margin in both the House and the Senate. Furthermore, some Republican legislators strongly stood against the measure becoming law. They stage a long filibuster that prolonged the final votes.
“Signing SB 46 is an important first step,” Ivey said in a press release. “This is certainly a sensitive and emotional issue and something that is continually being studied. On the state level, we have had a study group that has looked closely at this issue, and I am interested in the potential good medical cannabis can have for those with chronic illnesses or what it can do to improve the quality of life of those in their final days.”
As well as being able to sign or veto the bill, Ivey had had the opportunity to suggest line-item revisions. This would have sent the bill back to legislators who, who could then approve or reject them. However, Gov Ivey felt it was better not to take that option.
“As research evolves, [Sen. Tim Melson (R)] and I discussed how critical it is to continue finding ways to work on this to ensure we have a productive, safe and responsible operation in Alabama,” the governor said.
[Read More] Top Marijuana Penny Stocks In The Stock Market In May
Final Thoughts On Alabama Becoming A New Legal State
Now Ivey has not been the most vocal about the cannabis legislation. However, she was asked about a prior medical cannabis legalization bill in 2019. To which she said, “I’m still trying to get the details, but if it’s tightly controlled and limited to just those illnesses as verified by medical professionals, it’d be worth considering.”
A restrictive medical marijuana bill is practically what state lawmakers forwarded to the governor. With the current bill that has passed, there are measures on what qualifies a person to obtain cannabis. Those who want access to cannabis in Alabama would need to be diagnosed with certain conditions. This would involve depression, sleep problems, PTSD, anxiety, and severe pain. 
The people who will oversee the state’s program would not be able to independently add additional conditions. Decisions like that would be left up to state lawmakers in future sessions. This new cannabis bill would also forbid cannabis flower, smoking, vaping, and candy or baked good products. Those who seek to use cannabis would be permitted to buy capsules, lozenges, oils, suppositories, and topical patches.
A doctor would need potential patients to go through a 4-hour education course. Which would be followed up by an exam patient would need to pass. This course and exam will come at a price of $500. Also, physicians would be required to take refresher classes every two years. Lt. Gov. Will Ainsworth displayed support for Alabama passing this cannabis bill. Furthermore, he called on state legislators to send the bill to the governor ahead of their final votes.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
