Thursday, May 30, 2013

Will there be a Green Rush in Nevada?

Nevada Senate Passes SB 374 Legalizing Medical Marijuana Dispensaries.

In a historic vote of 17-4 the Nevada Senate has passed a bill legalizing medical marijuana dispensaries (a Las Vegas Review Journal article on the vote is available here, The bill received wide bipartisan support in the Senate, but it must return to the State Assembly for hearings and a vote before being sent to Governor Brian Sandoval for his signature. Timing is becoming a critical issue as the Nevada Legislature adjourns midnight on Monday June 3, 2013. 

The bill will allow for the opening of medical marijuana dispensaries, cultivation facilities and facilities that produce edible products. However, the bill will also take away the ability for medical marijuana patients to grow their own marijuana once a dispensary begins operation within the county in which they reside. This aspect of the bill has been met with stiff resistance from medical marijuana advocates who feel that it robs them of their ability to control the production process of their medicine, forcing them into the marketplace where it will cost them roughly ten times as much to purchase their medicine from the dispensaries. 

Nevertheless, as the bill will allow for what has been termed “the green rush”. Clark County will be allowed 40 licenses for dispensaries, which will create jobs and generate huge amounts of money for the state’s struggling budget. The licensing fees are steep ($20,000.00 for a dispensary plus a $5,000.0 application fee) and patients will be charged a $10.00 excise tax each time they purchase their medicine from a dispensary on top of whatever fees the dispensary charges. All in all it is estimated that the medical marijuana industry could reach over two billion dollars in revenue in less than five years. 

To learn more about this very hot topic click here

The attorneys at Connor & Connor Pllc are ready to assist clients negotiate the complicated nature of Nevada’s medical marijuana laws. If you have a question relating to medical marijuana in the state of Nevada do not hesitate to contact us as soon as possible. 

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