North Carolina Senate Passes Cannabis Legalization Bill

Last week, the senate in the state of North Carolina voted to approve the legalization of medical cannabis in an initial vote. Thirty-three legislators voted in favor of the proposal, including nine Republican Party members. This move comes after legislators in the state included medical cannabis in a proposal that was originally meant to regulate hemp. The updated proposal would legalize marijuana for individuals with debilitating medical conditions.

However, before it can be advanced to the house, it must be approved by the senate a second time.

In the past, GOP party members have hindered access to legal medical marijuana. For instance, Republican legislators failed to approved a measure that would have legalized the use of medical marijuana for use by patients with eligible conditions in 2023.

The second vote has been scheduled for this week.

Senator Danny Britt, who is responsible for medical cannabis’ inclusion in the proposal, stated that getting ahead of cannabis’ possible rescheduling by the federal government was necessary. This comes after the Biden Administration proposed that cannabis be downgraded to a Schedule 3 substance in May.

The public commentary period has already began and will continue until mid-July. Currently, cannabis is classified under Schedule 1 of the Controlled Substances Act, together with other drugs, including heroin, LSD, mescaline, psilocybin and MDMA, among others. Drugs under this classification are said to have a high potential for abuse and no accepted medical use.

In the meantime, the house in North Carolina may make amendments to the proposal or reject the entire bill.

When asked about the proposal’s chances of approval, House Speaker Tim Moore gave no definite answer. Instead, he stated that he believed legislators in the house would privately discuss the proposal in the coming week. In the past, Moore has shown that he is open to medical cannabis but hasn’t brought the issue to a vote because most of his GOP colleagues oppose the idea.

This proposal comes as a Native American tribe, which is the sole seller of medical marijuana in the state, prepares to launch recreational sales for individuals aged 21 years of age and older. The tribal council of the Eastern Band of Cherokee Indians recently voted to amend a code that would permit the sale of recreational marijuana, which would make the substance legal in its Qualla Boundary.

The code in question, Ordinance 63, was amended in an 8-to-2 vote. The tribe launched medical cannabis sales in April of this year.

Major marijuana companies such as TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF) will be following the developments in North Carolina to see if it becomes the next state to end marijuana prohibition.

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