
Daniel T. McKillop
Partner
201-896-7115 dmckillop@sh-law.comFirm Insights
Author: Daniel T. McKillop
Date: November 27, 2018

Partner
201-896-7115 dmckillop@sh-law.comOn November 26, the New Jersey Senate Budget and Appropriations Committee and Assembly Appropriations Committee approved the latest version of Senate Bill 2703, which would legalize the possession and non-medical personal use of cannabis for people age 21 and older.

Senate Bill 2703, which would be known as the New Jersey Cannabis Regulatory and Expungement Aid Modernization Act if enacted, is 147 pages long and continues to evolve. Below are some of the key components in the current version of the bill:
The bill cleared the Senate budget committee by a vote of 7-4 with two abstentions. The Assembly budget committee advanced the measure by a vote of 7-2, with one abstention.
While a formal bill has been introduced and is working its way through the Legislature, it is likely to be amended before coming to a floor vote. Several issues — notably the tax rate issue — remain to be resolved.
The Murphy Administration has also yet to sign off on the bill. “It’s too early to tell,” Gov. Phil Murphy said. “We haven’t commented on specifics, but I am very happy that this is moving.” According to Sen. Stephen Sweeney, sponsors plan to secure Gov. Murphy’s support before moving to a final vote.
The last time the full Legislature will meet this year is December 17. If Senate Bill 2703 is passed by both houses on that date it will go to Governor Murphy, who previously set January 1, 2019, as a self-imposed deadline for enactment of legalization legislation.
The Scarinci Hollenbeck Cannabis Law Practice group will be continuously tracking the status of the legislation. We encourage current and prospective members of the New Jersey cannabis industry to check back regularly for updates.
If you have any questions or if you would like to discuss the matter further, please contact me, Dan McKillop, at 201-806-3364.
This article is a part of a series pertaining to cannabis legalization in New Jersey and the United States at large. Prior articles in this series are below:
Disclaimer: Possession, use, distribution, and/or sale of cannabis is a Federal crime and is subject to related Federal policy. Legal advice provided by Scarinci Hollenbeck, LLC is designed to counsel clients regarding the validity, scope, meaning, and application of existing and/or proposed cannabis law. Scarinci Hollenbeck, LLC will not provide assistance in circumventing Federal or state cannabis law or policy, and advice provided by our office should not be construed as such.
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.

What Developers Need to Know About New Jersey’s Rent Control Exemption Law to Ensure Entitlement to Exemption for Newly Constructed Multi-family Housing. A property owner in Jersey City is facing a $400 million federal class action lawsuit alleging that the landlord did not follow the procedural steps required to be eligible for exemption from local […]
Author: Patrick T. Conlon

The application of traditional federal securities laws to crypto assets continues to evolve. In some cases, the Securities and Exchange Commission (SEC) considers tokens and other digital assets to be securities. This makes them subject to federal securities law, including the Securities Act of 1933 and the Securities Exchange Act of 1934. This classification has […]
Author: Bryce S. Robins

While the New York City real estate market can be extremely competitive, moving too quickly often backfires. Before purchasing a condominium or cooperative in New York City, it is important to do you homework. Purchasing property in NYC can involve a dizzying number of legal issues. These include condo and co-op rules, rent restrictions, and […]
Author: Jesse M. Dimitro

Smart contracts feature a unique blend of legal agreement and technical code. This innovation has the potential to reshape how business is conducted. At the same time, smart contract legal issues around enforceability, jurisdiction, identity, and compliance are common. The legal framework for these self-executing agreements is still evolving. What Are Smart Contracts? Smart contracts, […]
Author: Bryce S. Robins

Retaining top talent continues to be one of the greatest challenges facing employers today. Even in an employer’s market, the loss of a key employee can disrupt operations and result in significant costs. While compensation plays a role, long-term retention often depends on workplace culture, communication, and employee engagement. One increasingly popular strategy for improving […]
Author: Angela A. Turiano

Secured transactions form the backbone of a wide range of business dealings, including business loans, mortgages, and inventory financing. Because the stakes are often high and relatively minor oversights can have drastic consequences, lenders and borrowers should thoroughly understand how to form an enforceable security agreement that protects their legal rights. What Is a Secured […]
Author: Dan Brecher
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!