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420 with CNW — Minnesota Governor Appends Signature to Recreational Cannabis Legalization Bill

Minnesota Governor Tim Walz has officially signed a bill into law, paving the way for the legalization of recreational marijuana use in the state. This historic decision positions Minnesota as the 23rd state to permit the adult use of cannabis and the third in the Midwest region to do so.

The successful passage of the bill comes after a series of diligent efforts at the Capitol, including numerous committee hearings and multiple votes in both the house and senate. While the bill received strong support from Democratic-Farmer-Labor lawmakers, a handful of Republicans in the house also voted in favor of its enactment.

Although previous attempts to legalize marijuana had been made at the Capitol, the favorable outcome in 2023 can be attributed to the Democratic Party’s control of the senate, house and governor’s office after the November election.

As outlined in the legislation, individuals aged 21 years of age and above who are residents of Minnesota will be permitted to possess up to two ounces of marijuana in public and up to two pounds in their homes, effective August 1, 2023. The bill also includes provisions for the automatic expungement of low-level marijuana convictions and the establishment of a review board to assess eligibility for more serious offenses, providing individuals with prior convictions an opportunity to have their records cleared.

To ensure the responsible sale and regulation of cannabis products, the law establishes an Office of Cannabis Management, which will be entrusted with safeguarding consumer protection, promoting public health and upholding public safety within the legalized marketplace. Representative Zack Stephenson, the bill’s sponsor, expressed his satisfaction with the legislation, emphasizing its creation of a safe and well-regulated legal cannabis market. He also noted the inclusion of measures to address the disproportionate impact of previous cannabis laws on certain communities.

While Stephenson acknowledged that the implementation of regulatory and expungement measures would take time, he assured the public that these efforts would commence once the law takes effect. However, he cautioned that the establishment of licensed dispensaries could require up to 18 months, and the process of expunging tens of thousands of past cannabis convictions may extend over several years.

The sale of cannabis products will be subject to a 10% state tax. The legislation allocates approximately $80 million to support the implementation of new regulations and finance various programs related to the legalization of cannabis over the next two years. Furthermore, it includes funding for training law enforcement officers to identify signs of marijuana intoxication, addressing concerns about impaired driving.

Governor Tim Walz, recognized for his progressive stance on various issues, has recently signed several other significant bills into law, including measures that reinstate voting rights for individuals with felony convictions and legislation that enshrines the right to abortion in state law.

Minnesota’s decision to legalize recreational marijuana reflects the growing trend across states to adopt more progressive approaches to drug policy. The focus on regulation, social equity and criminal justice reform underscore the recognition of the evolving landscape surrounding cannabis use.

With recreational cannabis now legal in the state, many opportunities are likely to open up not only for marijuana organizations but also ancillary companies such as Advanced Container Technologies Inc. (OTC: ACTX) that cater to the needs of marijuana cultivators.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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