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%.
Click here to read the rest of the article written by Matt Hooke over at Washington Business Journal
