Nevada’s cannabis industry is undergoing significant changes with the recent passing of Senate Bill 277, which was signed into law last month and is set to take effect on January 1, 2024. The new law brings several key modifications to the regulations governing the recreational cannabis market.
One major change is the increase in purchasing limits for recreational cannabis customers. Under the new law, customers will be able to buy up to 2½ ounces of marijuana flower or one-quarter ounce of THC concentrate, compared to the previous limits of one ounce and one-eighth ounces, respectively. This allows consumers to purchase larger quantities and more potent THC products.
Another important update is the streamlining of licensing for retailers offering both recreational and medicinal products. Instead of needing specific certifications for each category, dual licensees will now require only one license. This change aims to reduce administrative burdens for businesses operating in both sectors of the industry.
Additionally, the new law enables the availability of medical-grade marijuana products alongside recreational products. Previously, these stronger medical products were restricted to patients with medical cards. Now, with a single dispensary license, consumers can access high-potency products similar to those available to medical patients.
The legislation also includes provisions to support ex-convicts seeking employment in the cannabis industry. The bill establishes an appeals process through the Nevada Cannabis Control Board, allowing individuals with felonies to apply for an agent card, which permits them to work with cannabis in the state.
The new law also eliminates the excise tax on medicinal cannabis sales and allows retailers to have multiple entrances. Local governments can utilize tax revenue generated from cannabis sales to fund public education campaigns on safe consumption practices and to identify legitimate retail operations.
To foster the growth and competitiveness of the industry, the bill significantly reduces annual and overhead startup fees imposed by the Cannabis Control Board. This easing of financial burdens aims to support cannabis establishments and promote the industry’s development.
