HB18-1011

HB18-1011 - Marijuana Business Allow Publicly Traded Owners

Active
Concerning measures to allow greater investment flexibility in marijuana businesses, and, in connection therewith, making an appropriation.

The bill redefines the terms 'direct beneficial interest' and 'permitted economic interest' so that only those who own more than 5% of the shares of stock in a marijuana business have to go through the disclosure and background investigations. The bill repeals the provisions that require limited passive investors to go through an initial background check. The bill repeals the provisions that limit the number of out-of-state direct beneficial owners to 15 persons. The bill repeals the provision that prohibits publicly traded entities from holding a marijuana license.

The bill states that, when the marijuana state licensing authority adopts rules related to ownership by and licensing of publicly traded companies, the rules must be substantively identical to the gaming commission rules for ownership by and licensing of publicly traded companies.

(Note: This summary applies to this bill as introduced.)

Latest update: April 20, 2018
04/20/2018 - House Third Reading Laid Over to 04/24/2018 - No Amendments
04/19/2018 - House Second Reading Special Order - Passed with Amendments - Committee, Floor
04/17/2018 - House Second Reading Laid Over to 04/19/2018 - No Amendments
04/16/2018 - House Second Reading Laid Over to 04/17/2018 - No Amendments
04/13/2018 - House Second Reading Special Order - Laid Over Daily - No Amendments
04/10/2018 - House Second Reading Laid Over to 04/13/2018 - No Amendments
04/06/2018 - House Second Reading Special Order - Laid Over to 04/10/2018 - No Amendments
03/29/2018 - House Second Reading Laid Over to 04/06/2018 - No Amendments
03/27/2018 - House Committee on Appropriations Refer Amended to House Committee of the Whole
02/28/2018 - House Committee on Finance Refer Amended to Appropriations
02/26/2018 - House Committee on Finance Witness Testimony and/or Committee Discussion Only
01/10/2018 - Introduced In House - Assigned to Finance