Virginia Legislature Passes Bill to Legalize Recreational Marijuana Sales

The bill, awaiting GOP Governor Glenn Youngkin's decision, aims to establish a regulated market by May 2025, with a focus on safety and economic opportunity.

• Virginia lawmakers have approved legislation to allow recreational marijuana sales, with the market set to open in May 2025.
• The legislation includes an 11.625% tax on marijuana products, with proceeds benefiting the state, local governments, and K-12 education.
• Governor Glenn Youngkin has not indicated whether he will sign, veto, or amend the bill, which has garnered mixed reactions from various groups.
• The bill aims to combat the state's $3 billion illicit marijuana market by offering a safe, tested, and taxed alternative.
• Social equity provisions are included to support economically disadvantaged communities and individuals affected by previous marijuana laws.

3 Articles

Financial Post Associated Press Washington Post