Vermont Takes Another Step Towards Legalization Of Recreational Marijuana

Vermont has taken another step on its road towards the legalization of adult-use cannabis. The state had already legalized medical marijuana, but the residents quickly decided they wanted more. While some cannabis possession was legalized, the sale and taxation of the product weren’t.

On Wednesday, the House of Representatives voted in favor (90-54) of a bill that would legalize, regulate, and tax cannabis sales for adults 21 and older. This is the first time the Vermont House has passed a bill to legalize cannabis sales.

Statement from Matt Simon, New England political director at the Marijuana Policy Project said, “Vermonters are overwhelmingly ready for regulated sales of cannabis to begin. The House should be applauded for advancing this important legislation, but the legislature’s work remains far from complete. The House and Senate will have to cooperate in the coming weeks to agree on a final bill to send to Gov. Phil Scott. This process presents a great opportunity for the governor and legislature to work together and move Vermont forward on cannabis policy.”

According to the Marijuana Policy Project, S. 54 will now be scheduled for a final House vote, which is expected tomorrow. If it passes there, it will return to the Senate, which has already approved a different version of the bill in a 23-5 vote. The House and Senate will have to agree on a final version of the bill before it can proceed to Gov. Phil Scott’s desk.

A summary of the bill can be found here.

If the bill is enacted, Vermont would join the 10 states that have laws regulating and taxing cannabis for adult use.

An overwhelming 76% of Vermont residents support allowing adults 21 and over to purchase cannabis from regulated, tax-paying small businesses according to a recent poll conducted by Public Policy Polling and commissioned by the Marijuana Policy Project. The complete results are available here.

 

Debra Borchardt

Debra BorchardtDebra Borchardt

Debra Borchardt is the CEO, Co-Founder, and Editor-In-Chief of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Masters degree in Business Journalism from New York University.


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