1-855-MMJ-TODAY
INDUSTRY PROFESSIONALS WITH A PROVEN TRACK RECORD
COLUMBUS EVENT
// OCTOBER 24, 2015
LOCATION:
Sheraton Columbus Hotel at Capitol Square
75 E State Street
Columbus, OH 43215
DATES/TIMES:
October 24, 2015
Registration opens at 8:00am
LEARN HOW TO ENTER THE LEGAL MARIJUANA INDUSTRY
LICENSING
CULTIVATION
DISPENSARIES
FEDERAL LAWS
OHIO LAWS
OHIO ISSUE 2
OHIO ISSUE 3
BANKING
SECURITY
IRS CONCERNS
FINANCING
BUSINESS PRINCIPLES
MARKETING
MEDICAL BENEFITS
CORPORATE STRUCTURE
PATIENT CARE
HISTORY
RE-LEGALIZATION
PUBLIC MARKETS
ACCOUNTING
WHAT YOU NEED TO KNOW ABOUT OHIO'S ISSUE 3?
Where could marijuana be grown?
Adults age 21 and older could grow up to four flowering plants at a time, in a secure area obscured from public view. There's no limit on nonflowering plants. Growers would have to obtain a $50 homegrow license.
ResponsibleOhio's website says the limit is per household, but the amendment does not specify per household.
Commercial marijuana sold in Ohio could only be grown at 10 "marijuana growth, cultivation and extraction facilities." Facility sites are listed in the amendment, in the following counties: Butler, Clermont, Delaware, Franklin, Hamilton, Licking, Lorain, Lucas, Stark and Summit. The 10 sites are owned or optioned by campaign investors who have raised more than $36 million to push the initiative.
Local zoning laws could not be changed to prevent these facilities from opening.
Who would regulate the industry?
The amendment would create a seven-member Marijuana Control Commission, with members appointed by the governor, to write most of the industry's rules and procedures including packaging requirements and health and safety regulations.
The commission would be composed of a licensed Ohio physician; a sworn Ohio law enforcement officer; a licensed Ohio attorney experienced in administrative law; an Ohio-based patient advocate; an Ohio resident with demonstrated experience in owning, developing, managing and operating businesses; an Ohio resident with demonstrated experience in the legal marijuana industry; and a public member. None could have served as elected officials in the eight years prior to their appointment.
The commission would issue licenses for stores and dispensaries, marijuana product manufacturers and home growers.
The commission would conduct an annual audit to determine whether demand is being met by the commercial growing facilities. The commission may suspend or revoke commercial grow licenses and after four years, add an 11th site if demand is not being met.
Where could I buy marijuana?
The amendment allows one retail marijuana store per 10,000 residents, which would allow up to 1,150 stores, according to the latest census. Retail store licenses would have to be approved by voters in the precinct where the store would be located, similar to liquor options.
Dispensaries would sell marijuana at wholesale to people who meet the qualifications. If all deadlines in the amendment are met, legal marijuana could be for sale as early as summer 2016.
What are the qualifications for medical marijuana?
Patients must receive a physician's certification to take cannabis to treat a qualifying medical condition. The patient must have an existing relationship with the physician. The amendment details the initial list of qualifying conditions: cancer, glaucoma, HIV or AIDS, hepatitis C, amyotrophic lateral sclerosis, Crohn's disease, sickle-cell anemia, ulcerative colitis, dementia, Alzheimer's disease, cachexia, post-traumatic stress disorder, severe pain, severe nausea, seizures, including those that are characteristic of epilepsy, or persistent muscle spasms, including those that are characteristic of multiple sclerosis. The commission will review the list annually and add conditions to reflect peer-reviewed medical research.
How would Ohio's marijuana possession laws change?
Ohio decriminalized marijuana decades ago. Possessing a small amount of marijuana -- less than 100 grams -- is a minor misdemeanor that carries no jail time and does not create a criminal record. In many parts of the state, any drug conviction carries a mandatory driver's license suspension for at least six months.
Issue 3 would legalize possession of up to 8 ounces (about 224 grams) of homegrown marijuana and 1 ounce (about 28 grams) of purchased marijuana. Issue 3 tasks the legislature with toughening penalties for selling to minors and adding "child endangerment" to those violations.
Issue 3 makes no other changes to possession laws, so if you're caught with more than 28 grams of purchased marijuana but less than 100 grams, you'd still have to pay a fine and might lose your driver's license for six months. And dealers and unlicensed homegrowers caught with more than 8 ounces of marijuana would still face felony charges.
How much would marijuana be taxed?
Commercial marijuana would be taxed 15 percent at the wholesale and manufacturing levels and 5 percent at the retail level. ResponsibleOhio estimates the effective tax rate would average to about 23 percent, with the effective rate on edibles at roughly 26 percent and the effective rate on flowers at about 21 percent.
ResponsibleOhio estimates legalization would generate $554 million in annual tax revenues after the industry is fully operational in four years.
Courtesy of Cleveland.com
LOCATION INFORMATION:
Sheraton Columbus Hotel at Capitol Square
75 E State Street
Columbus, OH 43215
(614) 365-4500