New Jersey Cannabis Market
The cannabis consultants at Point Seven Group are experts in the New Jersey cannabis market. We have successfully helped our clients obtain cannabis licenses, design dispensaries, build identifiable cannabis brands, and operate compliant cannabis businesses. Our team of cannabis experts can help you reach your business goals in the New Jersey cannabis market!
MEDICAL MARIJUANA IN NEW JERSEY
In the state of New Jersey, medical marijuana has been available for legal sale since January 18, 2010 when Governor Corzine signed the Compassionate Use Medical Marijuana Act into law. This Act legalized the use of medical cannabis for patients with qualifying conditions and helps registered patients safely access medicine from regulated and monitored facilities. As of May 2022, there are 12 licensed ATCs owned by vertically integrated companies with a collective 100,000 patients. The first New Jersey medical marijuana dispensary opened in the City of Montclair in December 2012.
ADULT-USE CANNABIS MARKET PROJECTIONS IN NEW JERSEY
NEW JERSEY CANNABIS NEWS
NEW JERSEY CANNABIS LAWS
The Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization (CREAMM) Act provides the framework for the recreational use of cannabis in New Jersey and the Jake Honig Compassionate Use Medical Cannabis Act (Jake’s Law) does the same for medicinal use. Local municipalities determine their own regulations and zoning ordinances for operations of cannabis businesses within their jurisdiction. The CRC will not issue a license that would be in violation of a local ordinance or regulation.
Under Jake’s Law patients are allowed to purchase and possess medical cannabis from licensed ATCs, but are not allowed to grow at home. Jake’s Law expanded the list of qualifying conditions to include chronic pain and additional anti-discrimination protections to ensure patients are not subject to conflicts related to education, rental housing, professional licensing, or employment.
On December 16, 2019, expungement efforts were increased when Governor Murphy signed the “clean slate” bill into law. Under this law, individuals may be able to expunge their entire criminal history of all arrests and convictions after 10 years, including low-level marijuana convictions. The bill also restored voting rights to those on probation or parole.
The CREAMM Act established the Cannabis Regulatory Commission to outline laws and regulations for the recreational cannabis market. The CRC established six license types, a maximum total of 8.625% tax (6.625% state and 2% local), and prohibited home cultivation of any amount of cannabis plants. On February 22, 2021 Governor Murphy signed three bills into law (A.21, S.2535, and A.5342) which collectively launched an adult-use cannabis industry and stopped thousands of arrests. Passing of these bills put an end to a three-year campaign to regulate and tax cannabis in the Garden State.