Two bills that would legalize marijuana for adult use in Virginia by 2024 and grant tax incentives to licensed enterprises that are now prohibited by federal law have recently been submitted to the Virginia legislature.
The state’s polarised legislature, presided over by Republican Governor Glenn Youngkin, who is undecided on the matter, presents an uphill struggle for legislation to legalize marijuana usage for recreational purposes in Virginia.
When asked if he would sign a bill that would make it legal to sell recreational marijuana in Virginia, Youngkin told Richmond TV station WRIC that he is more interested in laws about “hemp and delta-8 and the rules and consumer safety around those products.”
One draught would permit medicinal marijuana clinics to sell adult-use goods starting January 1, 2024, despite taxes and social equality restrictions that would threaten the agreement.
The other bill would allow cannabis businesses to claim tax deductions, which are currently against the law according to U.S. Code Section 280E.
Marijuana Moment says that several other states, like Pennsylvania, New Jersey, and New York, are trying to pass laws that would free state operators from paying taxes to the federal government.
Attempts to begin recreational sales in Virginia have stalled for nearly two years since then-Democratic Governor Ralph Northam signed legislation in April 2021, creating a potential $1.4 billion adult-use market.
Due to the impasse in Congress, medical marijuana firms in Virginia have grown while they wait for permission to start selling to adults.
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