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Administration Gives States Okay on Marijuana Legalization

August 29th

WASHINGON, DC — Attorney General Eric Holder told the governors of Colorado and Washington Thursday that the Justice Department would not — at least for now — block their states from implementing regimes to tax, regulate, and sell marijuana. The Justice Department will take a “trust but verify” approach, a department official said. The department […]

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Justice Department Says It Won’t Challenge State Laws Permitting Marijuana Legalization And Sales

August 29th

WASHINGTON, DC – Federal justice officials will not challenge the implementation of laws in Colorado and Washington that allow for the production, consumption, and sale of marijuana to those over 21 years of age. Voters in both states approved initiatives in November allowing for the licensed production and retail sales of the plant, both of which are anticipated […]

Read Justice Department Says It Won’t Challenge State Laws Permitting Marijuana Legalization And Sales in its entirety on The Daily Chronic.

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Colorado Marijuana Dispensary Names Cannabis Strain After CNN’s Dr. Sanjay Gupta

August 22nd

BOULDER, CO — Joining a long list of celebrities like Willie Nelson and Barack Obama who have namesake cannabis strains, a new type of medical marijuana –  Gupta Kush - has been named after CNN Chief Medical Correspondent Dr. Sanjay Gupta. “Dr. Gupta’s recent reporting on marijuana puts him at the forefront of the medical cannabis […]

Read Colorado Marijuana Dispensary Names Cannabis Strain After CNN’s Dr. Sanjay Gupta in its entirety on The Daily Chronic.

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Denver City Council Rules No New Marijuana Businesses Until 2016

August 13th

DENVER, CO — The Denver City Council gave initial approval Monday to a plan that would not allow any new marijuana businesses to open in the city until 2016. The move comes as the city tries to prevent a “green rush” of applications from  newcomers to the city — and state — hoping to capitalize […]

Read Denver City Council Rules No New Marijuana Businesses Until 2016 in its entirety on The Daily Chronic.

Want to stay up to date on marijuana reform & cannabis news worldwide? Visit The Daily Chronic - The Voice of the Reform Generation, the most comprehensive coverage of the cannabis community!

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Loveland to Consider Banning Recreational Pot Shops

August 5th

LOVELAND, CO — The Loveland City Council will consider an ordinance Tuesday evening that would allow the city to opt out of allowing recreational marijuana stores under Amendment 64. In January, the city council adopted a “wait and see” approach to decide whether or not to allow the licensed sale of marijuana to adults. Under […]

Read Loveland to Consider Banning Recreational Pot Shops in its entirety on The Daily Chronic.

Want to stay up to date on marijuana reform & cannabis news worldwide? Visit The Daily Chronic - The Voice of the Reform Generation, the most comprehensive coverage of the cannabis community!

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Denver City Council Approves 5 Percent Marijuana Tax

July 30th

By | The Daily Chronic

DENVER, CO — The Denver City Council approved a five percent marijuana tax when recreational sales begin next year in a 7-5 vote Monday afternoon. The municipal tax, which voters must now approve, would be in addition to a proposed 25% state wide tax, which also must be approved by voters in November. The tax [...]

Denver City Council Approves 5 Percent Marijuana Tax was written by and appears in full on The Daily Chronic. Want to stay up to date on cannabis news worldwide? Visit The Daily Chronic - The Voice of the Reform Generation

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Colorado Springs Bans Recreational Marijuana Retail Stores

July 24th

COLORADO SPRINGS, CO — Officials in Colorado’s second-largest city voted on Tuesday to ban recreational marijuana shops, becoming the largest community in the state to utilize an opt-out provision of a law that legalized the non-medical use of pot.

After two hours of public comments, the Colorado Springs City Council voted 5-4 to bar retail pot stores from opening within the city limits. The debate and vote came after Mayor Steve Bach publicly said he would veto the ordinance if the council approved allowing the recreational outlets.

“I say we should stand with our neighbors on this issue,” Bach testified before the vote, referring to nearby communities in the same county that have banned the pot shops.

Colorado Springs has a population of about 420,000 with a large military and evangelical Christian presence and is one of the most conservative and Republican areas in a state which in recent election cycles has turned leftward.

Last year, Colorado and Washington were the first U.S. states to legalize recreational marijuana, and the Colorado law allows cities or counties to outlaw marijuana stores in their communities. Nearly . . . . . READ MORE

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Colorado Springs, CO: No Recreational Marijuana Stores

July 23rd

COLORADO SPRINGS, CO — Colorado’s second largest city, Colorado Springs, is on the verge of banning recreational marijuana retail stores, forfeiting a projected $3 million in  recreational marijuana sales taxes for the city.

The City Council is expected to vote Tuesday on whether or not to ban retail pot shops under last year’s Amendment 64, which legalized retail sales of cannabis to adults in the state.

Four of nine city council members have said that they plan on voting against allowing retail marijuana stores in the city, but even if the council votes to allow the retail sale of marijuana to adults 21 or older, Mayor Steve Bach says he will veto any ordinance allowing the stores to open in the city.

There does not appear to be enough support on the council to overturn a mayoral veto.

Colorado Springs is the second largest city in the state, behind Denver.  Located at the base of Pike’s Peak and the Rocky Mountains, the city is a popular tourist destination, with an estimated 5 million visitors annually.

It was projected that recreational marijuana sales in the city would generate approximately $3 million annually in tax revenue for the city.  Sales would be limited to one ounce of pot for Colorado residents or a quarter of an ounce for out of state visitors.

Colorado Springs is the county seat of El Paso County, where Amendment 64 passed by 10 votes.  Even before the election, county commissioners for El Paso Count. . . . . READ MORE

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Federal Bill Would Up Penalties for Marijuana ‘Trespass Grows’

July 20th

WASHINGTON, DC — A bill introduced Thursday by Congressman Jared Huffman (D-CA) and bipartisan cosponsors from California and Colorado would create new penalties for marijuana growers who grow on federal lands or who trespass on other people’s property to grow and who cause environmental damages.

“Trespass grows” are a tempting alternative for growers who seek to avoid having their own properties seized under federal drug asset forfeiture laws.

Growing marijuana on federal lands — or anywhere else, for that matter — is already against federal law, but the cutely-acronymed Protecting Lands Against Narcotics Trafficking (PLANT) Act would instruct the US Sentencing Commission to establish new penalties for “trespass grows.”

The bill identified three environmental concerns: the illegal use of pesticides, rodenticides, or high-grade fertilizers; the “substantial” pilfering of water from local aquifers, and “significant” removal of timber or other vegetation.

Pressed by law enforcement, marijuana growers have increasingly moved onto federal parks and forests, as well as private properties. Last year, in the national forests alone, eradicators cut down nearly a million plants.

Officials and landowners accuse growers of leveling hilltops, starting landslides on erosion-prone hillsides, diverting and damming creeks and streams, and using large amounts of pesticides to protect their crops.

“Throughout my district an. . . . . READ MORE

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Private Equity Firms Investing in the Future of Legal Marijuana Sales

July 19th

SEATTLE, WA — In the sparse Seattle offices of Privateer Holdings, Brendan Kennedy grabs an iPad to show how his bet on legal marijuana is already payingdividends in the form of a Google results page for “blue cheese.”

When Web users search that term, high on the list is a link to reviews of the pot strain “blue cheese” on Leafly.com, the medical cannabis website Privateer bought a year and a half ago and which it calls the Yelp of weed.

“We’ve got Wikipedia blue cheese and pictures of blue cheese, and the third thing you see is the ‘blue cheese’ strain on Leafly,” Kennedy said as he displayed the Google results page. He says Leafly produces revenue of over $100,000 a month.

Popular interest in marijuana and moves by Washington state and Colorado to legalize recreational marijuana have led Kennedy’s two-year-old private equity firm and a handful of politically connected investors to dive into the pot business. Cannabis remains illegal under federal law.

Privateer this week said it closed a $7 million first round of fundraising. It also named to its board of directors Michael Auerbach, an investor with ties to former U.S. Secretary of State Madeleine Albright.

A next round of Privateer fundraising. . . . . READ MORE

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