
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.
Corporate transactions can have significant implications for a corporation and its stakeholders. For deals to be successful, companies must act strategically to maximize value and minimize risk. It is also important to fully understand the legal and financial ramifications of corporate transactions, both in the near and long term. Understanding Corporate Transactions The term “corporate […]
Author: Dan Brecher
Ongoing economic uncertainty is forcing many companies to make tough decisions, which includes lowering staff levels. The legal landscape on both the state and federal level also continues to evolve, especially with significant changes to the priorities of the Equal Employment Opportunity Commission (“EEOC”) under the Trump Administration. Terminating an employee is one of the […]
Author: Angela A. Turiano
While filing annual reports may seem like a nuisance, failing to do so can have significant ramifications. These include fines, reputational harm, and interruption of your business operations. In basic terms, “admin dissolution for annual report” means that a company is dissolved by the government. This happens because it failed to submit its annual report […]
Author: Dan Brecher
Antitrust laws are designed to ensure that businesses compete fairly. There are three federal antitrust laws that businesses must navigate. These include the Sherman Act, the Federal Trade Commission Act, and the Clayton Act. States also have their own antitrust regimes. These may vary from federal regulations. Understanding antitrust litigation helps businesses navigate these complex […]
Author: Robert E. Levy
If you’re considering closing your business, it’s crucial to understand that simply shutting your doors does not end your legal obligations. Unless you formally dissolve your business, it continues to exist in the eyes of the law—leaving you exposed to ongoing liabilities such as taxes, compliance violations, and potential lawsuits. Dissolving a business can seem […]
Author: Christopher D. Warren
Contrary to what many people think, corporate restructuring isn’t all doom and gloom. Revamping a company’s organizational structure, corporate hierarchy, or operations procedures can help keep your business competitive. This is particularly true during challenging times. Corporate restructuring plays a critical role in modern business strategy. It helps companies adapt quickly to market changes. Following […]
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!