Many upset over recommended financial requirements for medical marijuana operations

 

LANSING, Mich (WLNS) – The state is working to develop a framework to regulate medical marijuana and on Tuesday received recommendations on how to move forward on four topics from the Bureau of Medical Marihuana Regulation, plus get public comment. The topics included daily purchasing limits, THC limits, licensing insurance requirements, and licensing financial requirements.

One topic, licensing financial requirements, especially sparked up the crowd. At issue for many was the recommended price attached to obtaining a license to grow, to run a provisional center, and to be a part of the cannabis industry in general.

Here are the recommended capitalization requirements for people wanting to get into the cannabis industry as part of the licensing process:

Processer — $300,000

Provisioning center — $300,000

Secure Transporter — $200,000

Safety compliance facility — $200,000

Grower class A (500 plants) — $150,000

Grower class B (1,000 plants) — $300,000

Grower class C (1,500 plants) — $500,000

Many in the meeting room, like Jeffrey Hank, believe these recommended financial requirements will pave the way for only the wealthy, especially if someone wanted to be licensed for more than one operation.

“To demand that people have over a million dollars in money just to get in the medical marijuana market is not what we bargained for, it’s not what we asked for, it’s not what we’ve been voting for. People want mobility, the middle class and the working class are not meant to be employees of simply rich people in this business. That’s not the motto we want in the 21st century, and that’s why you saw so many people fired up in this room today.”

As for THC limits, it was recommended there shouldn’t be any except for some liquid concentrates, and it was also recommended the daily purchasing limit stay the same, which is up to 2-and-a-half ounces.

Final decisions on the medicinal marijuana licensing framework are expected in mid-November.

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