In Recreational Cannabis Law, Illinois Charts Plan to Issue Range of New LicensesJuly 1, 2019 – Alerts
With the General Assembly’s passage of the Cannabis Regulation and Tax Act, Illinois is now poised to become one of the country’s most active markets for new cannabis businesses as state regulators prepare to issue licenses to scores of new dispensaries, cultivation centers and others to prepare for consumer sales beginning in January 1, 2020.
The 610-page act establishes a framework for licensing recreational cannabis dispensaries and new cultivation and processing facilities, as well as licensing for craft growers, infuser organizations and transportation organizations. It took effect on June 25, 2019.
In this alert, we summarize some of the most important provisions in the bill, with an emphasis on the details that matter most to businesses. We also note key provisions on advertising, enforcement and the cannabis purchaser excise tax.