Mississippi Governor Signs Medical Marijuana Bill: It’s Go Time
What to Do Now to Apply for a Cannabis License in Mississippi
After a long series of delays, the medical marijuana program in Mississippi can finally move forward. With Governor Tate Reeves signing the Mississippi Medical Marijuana Act on February 2, 2022, the next phases are expected to move quickly. We could see the state release regulations and applications within the next couple of months.
The Department of Health is now tasked with developing the commercial program for cultivation, processing, selling, transporting, disposal, research, and testing. The Mississippi Department of Revenue (the MDOR) will issue medical cannabis dispensary licenses, with the MDOH issuing all other license types.
What is certain now is that the program will, indeed, move forward and that cannabis entrepreneurs hoping to acquire a license should act now. Even though the program has no limit on licenses, critical details in business planning, financial modeling, staffing, selecting your location, and planning your facility are all critical steps before you start your license application.
In the meantime, here are some important details:
What are the Details of Implementing the Approved Medical Marijuana Bill in Mississippi?
Effective Date: Immediately
After 120 Days: Begin issuing licenses (except for dispensaries), within 30 days of receiving an application
After 150 Days: Begin issuing licenses for dispensaries, within 30 days of receiving an application
Cap on Number of Licenses: None at the state level, but municipalities can opt-out altogether.
Regulations and Applications Release: Expected within the next couple of months
What Are Other Important Details to Know Before Applying?
Residency requirement:
- 3 years as a Mississippi resident for individuals
- 35% equity ownership by a 3-year resident.
- 100% equity ownership by a 3-year resident for micro cultivators and micro processors
Vertical Integration:
Vertical integration is allowed, but not required.
Ownership Limits:
No individual or entity may have a direct or indirect ownership or economic interest of more than 10% in more than one cultivation facility license, one processing facility license, or more than five dispensary licenses.
Location Restrictions:
Any cannabis facility must be at least 1,000 feet from schools, churches, and daycares. Waivers to lower this distance are a possibility.
Dispensaries must be at least 1,500 feet from each other.