Cannabis Administration and Opportunity Act – A Rundown for Business Owners
On July 14, 2021, Senate Majority Leader Chuck Schumer introduced a discussion draft of the “Cannabis Administration and Opportunity Act”. The bill is authored and sponsored by Schumer, along with Senators Cory Booker and Ron Wyden. Though the bill is unlikely to become law in its current form, it is significant that the Senate Majority Leader and chairmen of the Finance Committee is sponsoring such a bill. The framework hints at what may eventually become law as some sort of federal decriminalization is inevitable.