As governor of the first state to implement legalized recreational cannabis, Gov. John Hickenlooper has priceless insight when it comes to state regulation and taxation of recreational cannabis and now California is ready to learn from him.
According to an announcement from California Sen. Mike McGuire, Hickenlooper will speak at the California Senate Oversight Hearing, “California Cannabis in a Turbulent Time,” on Feb. 14, 2017, to address the Senate Governance and Finance Committee and discuss the ups and downs of cannabis tax collection in Colorado with the state’s original system of taxation. The hearing will be livestreamed at www.senate.ca.gov.
“We’re grateful that Governor Hickenlooper will be sharing the unique experiences Colorado has witnessed since passing recreational cannabis. We look forward to hearing his perspective and we hope to learn from the Governor about what works and what California can improve upon in the months to come,” McGuire said.
When California legalized recreational marijuana on Nov. 8, 2016, the state was given a deadline of Jan. 1, 2018, to start issuing recreational licenses, as well as implement the state’s tax collection system and track-and-trace system.
“Proposition 64 put a massive requirement on state marijuana regulators and very little time to accomplish the landslide of rules and regulations mandated by the initiative,” McGuire said.
While McGuire is doing his part to prepare California for recreational marijuana, California State Treasurer John Chiang has also created the Cannabis Banking Working Group to address federal banking and taxation issues that often prevent state-legal cannabis businesses from having financial security.