Gov. J.B. Pritzker – MJ Shareholders https://mjshareholders.com The Ultimate Marijuana Business Directory Tue, 07 May 2019 00:48:50 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.4 The State of Illinois Awaits A Marijuana-Approved https://mjshareholders.com/the-state-of-illinois-awaits-a-marijuana-approved/ Tue, 07 May 2019 00:48:50 +0000 https://marijuanastocks.com/?p=33817

There has been a major development towards the proposed bill of legalization regarding marijuana for recreational purposes in the State of Illinois. Gov. J. B. Pritzker addressed the public and the media at the Black United Fund in Illinois. Pritzker revealed that the main objective of this bill was to ensure that communities that disproportionately […]

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There has been a major development towards the proposed bill of legalization regarding marijuana for recreational purposes in the State of Illinois. Gov. J. B. Pritzker addressed the public and the media at the Black United Fund in Illinois.

Pritzker revealed that the main objective of this bill was to ensure that communities that disproportionately suffered from the consequences of being charged with low-level drug crimes benefit from this legislation. This bill would give authorization to all the citizens of Illinois, ages 21 and above, the ownership of up to 30 grams of marijuana. It would also sanction a $20 million low-interest loan program to promote equal development in business ownership. It also includes the acquittal of anyone charged with a misdemeanor or Class 4 felony marijuana convictions.

No New Commercial Marijuana Business

If this bill is passed, a staggering 800,000 people with low-level drug convictions would be released. It was also declared, according to the proposed bill that no new commercial marijuana business on a large-scale would be allowed to begin construction of business in Illinois, for the time being. Doing this would allow the small local growers to grow and expand their marijuana business. Along with this, adult residents will be given permission to have up to five plants in a room hidden from the public view.

Cultivators would need to pay 7% gross sales to dispensaries. The consumers would have to pay 10 percent sales tax on all products with less than 35 percent of THC. Also, 25 percent of the sales tax should be imposed on products with more than 35 percent of THC. In addition, products that are infused with cannabis, such as edibles, would have a sales tax of 20% imposed on them.

All the revenue that the government earns from the weed industry will be distributed amongst different areas. However, there is no shortage of people who advise strongly against the legalization of marijuana in Illinois. One of which is the director of addiction services at Linden Oaks Behavioural Health in Naperville Aaron Weiner. Mr. Aaron Weiner criticized the government’s actions. He accused the government of using this bill only as a way to generate heaps of revenue.

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