Albeit congressional forces have done their best to keep legal marijuana from being sold on the site of the White House, a late decision by a judge in the D.C. Superior Court has put District administrators in a position to start considering a taxed and managed regulated cannabis market in the not so distant future. A month ago, Judge Brian Holeman decided to vote for maintaining the Local Budget Autonomy Act, which was approved in 2013 by 82 percent of the voters, giving the District more control over what it does with its finances.
The decision, which states that the will of the people ought to be regarded, now gives the District the financial self-sufficiency it has expected to advance with making a retail cannabis exchange without succumbing to any further sandbag strategies by Congress.
“This means that the council can move forward to determine how to tax and regulate marijuana and pass a law to do so this fall,” the Marijuana Policy Project wrote.
Despite the fact that the development, ownership, and exchange of pot has been legal in the District for over a year, an appropriations rider, presented by Maryland Representative Andy Harris, in 2014, has kept the D.C. Board from ordering law that would set up a recreational marijuana market. There was some conjecture that Congress would get rid of the alteration before passing the present federal spending bill, last December, however, it, alongside a few others, was essentially restored without much verbal confrontation.
This chronicled choice by the D.C. Superior Court, in any case, gives the District of Columbia the flexibility to get into the matter of offering cannabis once the Fiscal Year 2016 spending plan expires in September. A portion of the most recent projections indicates that the District stands to produce in upwards of $93 million in expense income once it is allowed to open marijuana shops all through the city.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
