The Maryland Senate passed a bill Friday to create a legal recreational cannabis industry in a 32-12 vote.
Passage of the Senate bill comes after the cross-filed House of Delegates Bill 566 passed earlier this month. There are still more steps before a bill reaches Gov. Wes Moore’s desk. Because the two bills differ, members of the House and Senate will have to create a committee to hash out the differences between the two pieces of legislation.
Chief among the differences are that the Senate bill has a higher starting tax rate, changes how tax money from cannabis is allocated and alters licensing.
The Senate bill calls for a higher tax rate on cannabis products at 9%. The House bill has a smaller starting tax rate, at 6%, but the tax increases by 1% each year until reaching 10%.
The low tax rate of the House bill has received some criticism. Advocates for a higher rate believe the state is missing out on the opportunity to make millions of dollars to fund public services. But others…
Read the full story from the Washington Business Journal.
