Starting from August 1, 2023, new legal cannabis laws will come into effect in Minnesota. These laws primarily focus on the legalization and regulation of adult-use (recreational) cannabis. Here are the key points:
1. Legalization: The new laws allow adults aged 21 and older to possess and consume cannabis for personal use.
2. Possession Limits: Adults are allowed to possess up to 2 ounces of cannabis in public and up to 2 pounds at their residence.
3. Cultivation: Individuals will be permitted to cultivate up to eight cannabis plants per household. 4 plants can be in bloom at any given time.
4. Retail Sales: Licensed cannabis retail stores will be established, allowing the legal sale of cannabis products. These stores will be regulated and require the necessary permits and licenses. These adult-use cannabis retail stores will likely not be allowed to begin operations in Minnesota until the first quarter of 2025. First, the state will need to create the governing bodies and permitting applications for which stores and businesses will need apply to operate in Minnesota.
5. Taxation: Cannabis products will be subject to taxation, with specific tax rates determined by the state legislature. Currently assuming around 16-18% on top of any existing state and local sales taxes.
6. Social Equity: The legislation emphasizes social equity by promoting diverse ownership and participation in the cannabis industry. It aims to create opportunities for communities disproportionately affected by the war on drugs.
7. Regulation and Oversight: The Minnesota Department of Health will oversee the medical cannabis program, while the newly established Cannabis Management Board will regulate the adult-use cannabis market. This board will be established over coming months and will be the governing body in charge of regulated adult-use cannabis stores, commercial grows and other sectors within the cannabis industry in Minnesota.
It's important to note that these points are a general summary, and there may be additional details and regulations associated with the new laws. It is recommended to refer to the official state legislation or consult legal professionals for precise and up-to-date information.