Greetings, the U.S. House of Representatives Judiciary committee approved a bill this week de-criminalizing marijuana at the Federal level. It will now head to the full House for a vote, and then it would need to be approved by the Senate and then the President would need to sign it before it becomes law.
The Marijuana Opportunity Reinvestment and Expungement Act of 2019, or MORE Act, passed the committee 24-10 after more than two hours of debate. Experts are saying it is unlikely to be voted into law this time, but it can be seen as a sign of possible future passage. I’ve attached the proposed bill.
Right now, even though it remains illegal Federally, medical marijuana is legal in 33 states and it’s legal for recreational use in 11 states and DC. However, the Federal ban is what has allowed most states to keep it out of the Workers’ compensation system. If the Federal bill passes, each of the remaining 39 states would have to address the existing state laws banning it recreationally.
Specifically, Florida would need to address our medical marijuana statute as it specifically bans it from WC before we would have to cover it.
The proposed bill has a 5% Federal tax on marijuana. In California alone, the marijuana industry is an $11 Billion crop, more than grapes. Stay tuned.
Morgan Indek | Partner