New Jersey might become the eleventh state to legalize recreational cannabis if the bill is passed next week by lawmakers in the state Senate and General Assembly and, of course, signed by Governor Phil Murphy.
Given below are the answers to all the doubts that you may have in regard to the bill:
Age limit
Any individual over the age of 21 can buy cannabis for recreational purposes.
Marijuana charges will be expunged
Courtesy of this bill, pending cannabis charges and convictions for possessing up to 5 pounds of marijuana will be dismissed. Furthermore, employers, institutions and licensing boards will be sent a notification, reminding them not to consider any past conviction of such kind while hiring or issuing licenses.
Cannabis and your job
No company can deny you a job opportunity because of your cannabis habits (outside the office). However, if you are found intoxicated with it during your working hours, your employer holds the right to take strict action against you as laid down in the company’s policies.
Tax
A $42 per ounce tax has been set on wholesalers. Local municipalities can further tax marijuana businesses but not more than 4% on dispensaries, 2% on growers and processors and 1% on wholesalers.
The tax revenue will be deposited in a Cannabis Regulatory fund that will be used to create, regulate and enforce cannabis industry standards
Driving and Smoking Pot
DUI, of course, remains an offense. The bill is also aimed at setting up a task force that will study how marijuana influences a person’s driving ability.
Looking to start a cannabis business in NJ, but don’t have the capital?
Do not worry! The New Jersey state government will issue conditional licenses to allow extra time for people and start-ups to arrange for cash and insurance, as banks usually do not lend loans for anything that is deemed illegal by the federal government.
In order to receive one of these licenses, one must be a resident of New Jersey for at least two consecutive years and have an adjusted gross income of no more than $200,000 for one person and $400,000 for two people.
The in-charge of the program
A commission consisting of 5 full-time members will oversee the program. Three of the members will be selected by the governor, one by the assembly speaker and one by the Senate president.
Diversity of race and gender among cannabis business applicants
Just like Pennsylvania, New Jersey has 30% of its licenses – both medical and recreational – reserved for women, veterans and ethnic minorities.
