Virginia could change into the primary Southern state to permit regulated retail sales of cannabis if Gov. Glenn Youngkin doesn’t sign, veto or amend the measure that the legislature passed, advocates told MarketWatch.

While other states have so-called pocket vetoes allowing governors to kill bills through inaction, Virginia state law dictates that bills change into effective 30 days after the Assembly adjourns if the state’s chief executive does nothing.

Because the measure landed on his desk last week, Youngkin has made no recent public comments on his plans for the bill, which passed each the state Senate and the home of delegates.

Asked by the Associated Press and other news outlets in regards to the bill, spokespeople for Youngkin have referred to a press release he made to journalists back in January: “I’ve said before, that is an area that I actually don’t have any interest in. What I would like us to work on are areas where we will find a gathering of the mind and press forward to the betterment of Virginia, and there are such a lot of of them.”

Irina Dashevsky, partner and co-chair of the cannabis Law practice group at Greenspoon Marder, told MarketWatch that Youngkin has no real interest in signing the measure, but he may not veto it or send it back to the legislature with amendments either.

If the measure is allowed to change into law, Youngkin “can still say he never signed it,” as a approach to appeal to his conservative supporters, she said. 

Meanwhile, Youngkin has voiced support for a bid by the Washington Capitals NHL team and the Washington Wizards NBA team to maneuver to northern Virginia.

The governor in December reached a handshake take care of team owner Ted Leonsis however the pact would require a recent arena in Alexandria, in keeping with reports.

State Democrats have told the governor that they are going to support the world provided that he allows regulated recreational cannabis.

“The Democrats see it as a bargaining chip for sports team votes,” Dashevsky said.

Virginia has allowed adult-use of cannabis and residential cultivation of as much as 4 plants since 2021. Unregulated stores have since popped up, with no tax revenue going to the state.

The bill that passed last week would arrange a regulatory structure for retail sales of cannabis with an applications period for licenses starting on Sept. 1 and a market open as early as May 1, 2025. State taxes on cannabis would range as much as 11.625%.

If the governor vetoes the measure, the legislature does not going have the votes to override the measure, but he has not publicly threatened to do that, in keeping with sources.

Another choice is for the governor to send the measure back to the legislature with amendments.

JM Pedini, development director for the National Organization for the Repeal of Marijuana Laws (NORML), said public safety shall be higher served through a regulated marketplace, with the governor’s support.

“NORML would argue that perhaps a greater policy position to take could be to agree with Virginians that it’s time to take control of Virginia’s marijuana market as a substitute of leaving that within the hands of illicit operators,” Pedini said.

Cannabis firms currently operating within the medical market in Virginia include Jushi Holdings Inc.
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Dharma Pharmaceuticals, Green Leaf Medical and Columbia Care.

With a population of about 8.7 million, Virginia ranks because the twelfth largest state within the U.S.

Adult-use legalization bills are actually moving forward in Hawaii and Latest Hampshire. The Florida Supreme Court is predicted to rule in coming weeks on a bid to put a referendum on the November for adult-use cannabis.

The governor of Pennsylvania has thrown his support behind legalized adult-use cannabis to boost tax revenue, nevertheless it’s not expected to get past the Republican-controlled state Senate.

In November, Ohio became the twenty fourth U.S. state to legalize adult-use cannabis.

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