By Steve Elliott
California's long experiment in unfettered capitalism in the medical marijuana industry looks to be coming to an end. The California Legislature has reached an agreement to create a "regulatory framework" for medicinal cannabis.
Lawmakers said late on Thursday they've reached a deal on regulate and license medical marijuana, report Christopher Cadelago and Alexei Koseff at The Sacramento Bee.
"The California Cannabis Industry Association (CCIA) is delighted that the California legislature has reached an agreement to create a regulatory framework for medical cannabis," the organization announced in a Friday morning email. "We have not yet reviewed the final language, but we are hopeful about the agreement -- and look forward to working with the state to establish a regulatory structure."
The regulations for California's billion-dollar medicinal cannabis industry will be contained in three bills that have gotten the approval of both chambers of the Legislature and the office of Governor Jerry Brown, according to Assemblyman Rob Bonta (D-Oakland), one of the authors.
Bonta said his measure, along with the others, will be released on Friday, and would require state and local licenses for medical marijuana dispensaries. It would create a Bureau of Medical Marijuana Regulation to oversee licensing and regulatory affairs, involving the California Department of Food and Agriculture and the Department of Public Health.