Virginia Cannabis Operators Should Act Now
Talk about a surprise! Having reconvened on April 22, the Virginia General Assembly swiftly announced their outright rejection of Governor Abigail Spanberger’s proposed changes to SB 542. Spanberger had a number of substantial changes to the bill, ranging from a delayed start date for retail sales by six months to enacting harsher sentences for individuals found engaging in the illicit marketplace.
The Senate voted 21-18 to reject her changes while the House rejected even taking up consideration of her changes. This came after lawmakers were quick to push back against her proposed changes.
With this decision, the Governor now has three paths forward before her deadline for a decision on May 25. She can:
- Sign the original bill
- Veto the bill
- Let the bill become law without her signature
The good news is, we feel very confident that this will become law. Spanberger, in our estimation, will likely sign this given that she will want some credit in helping to bring adult-use cannabis to Virginia. But, as a sign of protest against the Assembly for their rejection, she could let this become law without her signature. This is what we saw in Delaware back in 2023.
With a feeling of bullishness, now is the ideal time to begin preparing for what is going to be a fairly fast and aggressive timeline to meet statutory deadline requirements, such as having retail sales launch on January 1, 2027.
Reach out to Canna Advisors today to get started, because things are only going to heat up in Virginia and you don’t want to miss out!