Governor Newsom has signed quite a few bills that influence the cannabis sector by supplying relief from federal revenue tax deduction limitations, encouraging minority participation, encouraging union membership, and clarifying some other current regulations.
The bills involve:
- Assembly Bill 37 repeals the limitation on deductions for company costs for cannabis organizations, which had previously conformed to Internal Income Code section 280E for state tax purposes.
- Senate Bill 595 gives some relief from licensing costs for desires-primarily based applicants and is meant to facilitate minority-owned organizations.
- Assembly Bill 1529, co-sponsored by the California Cannabis Business Association, modifies the labeling needs on vaporizer cartridges. It facilitates compliance with the needs by creating some sensible modifications to the labeling specifications.
- Assembly Bill 1291, which needs a labor peace agreement for all organizations with 20 or additional personnel, is created to facilitate union protections for cannabis sector workers, as properly as protections from strikes and other disruption for organizations. The new law imposes strict timelines to comply by licensees below the threat of loss of their license. California tends to make it quite tough to have independent contractors rather of personnel, so this provision could have a substantial influence on the unionization of the cannabis sector in California.
- Senate Bill 34 enables retailers to offer cost-free merchandise to qualifying healthcare individuals.