Legislative & Licensing Update: November 3, 2022
November 3, 2022
November 3, 2022
Alabama Medical Marijuana License Applications Due in 56 Days
Just 56 days until the deadline for Alabama medical marijuana license applications. The application is complex and will require extensive expertise.
In New Jersey, more conditional adult use licenses were awarded. Conditional licensees have two hurdles to overcome to convert to a full, annual license. In New York, adult use licensing took another step forward as CAURD regulations were issued. Applicants for full New York cannabis licenses should be working on people, processes, location, and funding. Plus, action and opportunities in 5 states with ballot initiatives next week.
Alabama Application: Top Tips for How to Submit & Win a License
Alabama’s medical business license applications were released last Monday, October 2. The submission window just opened this Monday, October 31 and closes on December 30. You can find the countdown to the deadline and more tips on how to apply for a license in Alabama here.
A strong application will require hundreds of pages of documentation and preparation that will take months. The highest scores will require “exceptional” teams, facilities, finances, and processes.
The applications won’t be graded until after the window closes on December 30, and though you may be tempted to submit as soon as possible, it’s best to take your time and do it right the first time so you can score every point available.
To stay in the loop, you can catch the next AL Medical Cannabis Commission meeting on Thursday, November, 10.
New Jersey Adult-Use Licenses & Conversion Hurdles
More New Jersey Conditional licenses were approved last week, as well as the first Annual and Conversion applications.
New Conditional licensees now need to get going on their Conversion applications. Conditional Conversion applicants have a limited window to apply. Conversions require a location secured and local approval, which have been slowing teams up so don’t delay on those aspects.
With Annual and Conversion licenses approved, the new adult-use market can really get going. The sales that started in April 2022 were only for the limited medical retailers to start adult-use sales.
Now, new businesses will start opening, and competition will increasingly heat up. If you’re trying to get into the New Jersey market early, now is the time.
One Step Closer to Adult Use Licenses in New York
New York released guidelines for CAURD (conditional dispensary) licensees, which mirror the already-released CAURD regulations.
For potential standard retail applicants, we can assume the same rules will apply and the guide provides an easy to digest format of the rules to help further your planning.
For CAURD applicants, they now have more guidance and the state is one step closer to opening new retailers in the next few weeks or months
The state continues to chug onward, though at a slower pace than expected, and regulations for standard licenses should be next on the docket. If you’re going for a license, keep up your momentum and prepare your people, processes, location, and funding in advance.
Advocacy & Opportunity in 5 Ballot Initiative States
Elections are coming up on Tuesday, November 8, and 5 states have cannabis legalization on the ballot. As we see it, the top state for licensing and business opportunity is Maryland. With the legislators behind the ballot initiative and companion legislation already drafted, Maryland is positioned to be the smoothest rollout of all 5 states.
If you’re considering new markets to enter, especially on the east coast, don’t pass on Maryland. The initiative has a great chance of passing, so if you’re planning to start a cannabis business in Maryland, you should be making connections, educating yourself on the local landscape, and crafting your business plan now.
Meet Us at MJBizCon in Vegas
MJBizCon is right around the corner. We’re starting to schedule meetings with industry stakeholders, clients, and partners. Please reach out if you want to meet up in Vegas!