After nearly three hours of review and debate, the Senate Finance Committee approved a heavily amended bill to regulate Maryland’s soon-to-be legalized cannabis industry Monday evening, setting up a showdown with the House of Delegates over some of the language.
Finance voted to change a proposed graduated sales tax — initially seen as ranging from 6% to an ultimate 10% in Fiscal 2028 — to a flat 9% tax, once sales are legalized July 1 for adults, in keeping with voters’ approval of the measure last November.
The committee also voted to create an independent Maryland Cannabis Administration separate from the Alcohol and Tobacco Commission, as was called for in the original legislation and the House bill, both of which proposed it becoming a division within a new Alcohol, Tobacco and Cannabis Commission.
With the 7-2 approval, Finance sent Senate Bill 516 to the Budget and Taxation Committee for its consideration and recommendations, before the legislation is passed out to the floor of the Senate later this week. The House of Delegates’ legislation, House Bill 556, was sent to the Senate two weeks ago.
Click here to read the rest of the article written by William F. Zorzi over at Maryland Matters
