LVMMA Meeting today
Bill Anderson (Director Taxation)
(Everything in these brackets are my notes / opinion. Everything else is paraphrase directly from DOT - Jason Sturtsman)
(Goes over power point presentation. Reach out for a copy.)
Marijuana Program Overview Presentation
3 Rs - Regulation, Responsible, ?
We don’t want to be like Oregon by overproducing.
Next week they will make an announcement about taking more applications from existing establishments.
Interested in impact on medical marijuana program. We peaked at 28,000 medical marijuana cards and it is going down. (Read between the lines, interesting on how they will revisit this)
Total Agent work cards: 11,417
They anticipate more taxes generated, then what is projected.
Speaks about where cannabis tax money is allocated in the state.
Half of market is dominated by flower. Has graph of sales by product. (Good market research)
June 13-23 - Adult applications recreational (Dual Licenses)
Summer 2018 Retail only Dispensary licenses application (They announced this previously that they will announce 45 day window the first week of July)
Nov 16 - will make applications available for everyone, exclusivity ends for Marijuana establishments (ME). (No answer to whether these will be limited. However, they have mentioned they do want to limit size multiple times and referred to Oregon’s problems)
Says Jorge will talk about diversity in those applying. Says legislature does want more diversity and they will be looking for that as part of the application. (How do you prove diversity?, May want to pad your board of advisors, Does being partially hispanic count?)
Next round they anticipate that they will address diversity and keep that into account. They will publish what those point weights are going to be, points on what you will get as part of the future applications (This includes retail only dispensary applications)
We have rolled Nevada cannabis out better than other states.
Dispensaries applications will be ranked.
They are discussing adding more personnel.
Jorge -
Answering questions :
We are not sending warning letters about expiring agent cards.
No plan to open medical application process. There are no new medical dispensary licenses that will be issued. He is studying canopy size and does not want us to become Oregon (Jason : Go big quick NOW, because you will or may be limited in the future, big cultivations now will be at an advantage.)
70 Retail only dispensary licenses will be available.
Henderson and other cities banning retail only dispensaries - cannabis industry will put in by jurisdiction and Taxation will issue the licenses. You have 12 or 18 months to get your local approval. If you dont get jurisdiction approval, they will pull them back! (Very important, if you approved and are approved by the state and jurisdiction says no, they will “pull up licenses”. This also means that jurisdictions may not ban retail only knowing this fact. )
