Will the Federal Government Reschedule or Legalize Cannabis Before NH?

A couple of big headlines today that captured our attention.

First, the Doctors for Drug Policy left out of the DEA’s cannabis rescheduling hearing have dropped their lawsuit. They do retain the right to refile the case should the Drug Enforcement Administration opt to keep cannabis a Schedule I drug.

According to Cannabis Business Times the rescheduling hearing remains delayed by a separate interlocutory appeal. This removes one issue from moving the hearings forward but time will tell if this stalled effort reverses course.

Second, U.S. House Reps Dave Joyce, Max Miller and Dina Titus filed the Tenth Amendment Through Entrusting States (STATES) 2.0 Act, “legislation that aims to federally legalize cannabis through an approach that allows states, Washington D.C., U.S. territories and tribal nations to determine how to regulate cannabis within their borders.”

According to Cannabis Business Times the primary provisions under the legislation include:

• Removing cannabis from the Controlled Substances Act while also supporting states that choose to maintain prohibition enforcement policies;
• Providing state-sanctioned cannabis businesses with federal tax relief by allowing them to deduct ordinary business expenses (removing their conduct as “drug trafficking” from Section 280E of the Internal Revenue Code); and
• Allowing for interstate cannabis commerce, including transportation through states and territories that choose to maintain prohibition policies

Should this bill become law, it would immediately open up interstate sales, further putting New Hampshire behind the proverbial eight-ball in competing in the market. Not to mention leaving us with zero framework for a properly taxed and regulated industry.