Marijuana Business Magazine February 2019

February 2019 | mjbizdaily.com 29 New York Gov. Andrew Cuomo said he’d like to see legalization of adult-use marijuana in New York in early 2019. In a speech outlining his priorities for the first 100 days of his third term, Cuomo said legalization could create a $1.7 billion market. A state health department report commissioned by the governor found roughly 1.3 million consumers would access the legal market the first year after cannabis is legalized. The estimated potential state and local tax revenue in the first year ranges from $248.1 million with a 7% tax rate to $677.7 million with a 15% tax rate. Ohio Regulators awarded the state’s first certificate of operation to a laboratory to test medical cannabis, clearing the last obstacle to medical marijuana sales in Ohio. The approval of North Coast Testing Laboratories of Streetsboro means the state has operating licensees in all the categories required for sales of medical marijuana to begin. The timing of product availability will be based on the actions of the licensees, according to the state’s commerce department. Oklahoma Out-of-state medical marijuana cardholders qualify for temporary licenses to purchase cannabis products in Oklahoma, and that could lead to an uptick in sales for the state’s MMJ retailers and growers. Patients with valid out-of-state medical marijuana IDs qualify for a $100, 30-day renewable temporary license that allows them to buy, use or grow MMJ in the Sooner State. The allowance for out-of-state patients could eventually attract customers from neighboring Arkansas, where nearly 6,500 people have been approved for MMJ cards but have not yet received them. Oregon The state Liquor Control Commission will allow medical marijuana to be delivered to patients who live in areas where licensed cannabis activity is prohibited and also increase the daily purchase limits for MMJ cardholders to 8 ounces. The commission also increased the amount of medical cannabis that Oregon cardholders can buy during a single shopping trip to 8 ounces.