Massachusetts Gov. Maura Healey (D) on Sunday signed a bill containing significant reforms to the state’s cannabis laws, including increasing purchase amounts, MassLive reports. The law increases possession limits to two ounces and doubles the number of retail business licenses that can be held by an entity from three to six.
The law also reduces the number of members on the Cannabis Control Commission (CCC) from five to three and creates three new license types: on-site consumption, event-based consumption, and research.
“The cannabis industry is an important part of Massachusetts economy – supporting jobs and local businesses and generating revenue for cities and towns. It’s important that we are doing everything we can to make sure this industry is set up for success and that we remain competitive in this fast-growing market.” — Healey in a statement via MassLive
The law also eliminates the requirement that medical cannabis businesses cultivate and possess the cannabis that they sell.
The law comes as state regulators seek to stabilize the industry. Last week, the CCC voted to impose a four-month moratorium on new cannabis cultivation licenses amid declining cannabis prices, which recently fell to about $14 for an eighth of an ounce.
