Benzinga - by Maureen Meehan, Benzinga Editor.
The Florida Supreme Court on Monday approved a recreational marijuana constitutional amendment on which voters will decide in the November 2024 election.
The proposal, known as Amendment 3, would legalize the “non-medical personal use of marijuana products and marijuana accessories by an adult” 21 or older. The proposal would take effect — if approved by at least 60% of the voters in November — beginning in May 2025. Monday’s state Supreme Court decision was reported by the Tallahassee Democrat.
The seven justices, five of them appointed by Republican Gov. Ron DeSantis, had until April 1 to decide whether the proposed citizen initiative amendments satisfied two tests: is the ballot language “clear and unambiguous,” and whether the amendment addressed only a single subject.
Florida AG Opposed Cannabis Ballot Measure
Florida’s Republican Attorney General Ashley Moody regularly criticized the cannabis initiative brought by advocacy group Smart & Safe, which has spent over $40 million, much of which was provided by Trulieve Cannabis (OTCQX:TCNNF).
One of Moody’s main complaints about the ballot initiative has been that it did not explicitly spell out the fact that cannabis is illegal at the federal level, which she has called "misleading.”
In light of the challenges to the proposed ballot language as misleading, the latest version clarifies that nothing about the proposal "changes federal law.”
Trulieve's founder and CEO Kim Rivers is a speaker at the Benzinga Cannabis Capital Conference in Hollywood, Florida April 16-17, where this Supreme Court decision will no doubt be on everyone's minds. Florida is among the largest and most lucrative medical marijuana markets in the U.S. Imagine if a legal adult-use market is approved this coming November.
What's In The Cannabis Amendment?
The amendment allows adults 21 years or older to possess, purchase or use marijuana products and accessories for non-medical personal consumption by smoking, ingestion, or otherwise. It allows Medical Marijuana Treatment Centers, and other state-licensed entities, to acquire, cultivate, process, manufacture, sell and distribute such products and accessories. The amendment applies to Florida law and does not change, or immunize violations of, federal law. The amendment establishes possession limits for personal use.
If approved by at least 60% of the voters in November, beginning in May 2025, anyone 21 or older will be allowed to possess 3 ounces of cannabis (or 5 grams of marijuana concentrates).
Medical cannabis dispensaries could “acquire, cultivate, process, manufacture, sell, and distribute marijuana products and marijuana accessories to adults for personal use.” (The legislature could approve additional dispensaries the future.)
The Benzinga Cannabis Capital Conference in Florida is being held at a new venue on April 16-17, 2024. The two-day event at The Diplomat Beach Resort is a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world. Get your tickets now on bzcannabis.com – Prices will increase very soon!
Photo: El Planteo.
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