Repeal Bonding Requirement Marijuana Businesses
Concerning the removal of unreasonably impracticable financial requirements applicable to marijuana businesses that are required to be licensed.
2016 Regular Session
Liquor, Tobacco, & Marijuana
- Declares that, because bonds for medical marijuana businesses and retail marijuana establishments are unavailable in the current marketplace, the requirement to post a bond for the issuance or renewal of a state-issued license makes the operation of medical marijuana businesses and retail marijuana establishments unreasonably impracticable, a result prohibited by Colorado's constitution (section 1 of the act);
- Repeals the requirement that medical marijuana businesses (sections 2 and 3) and retail marijuana establishments (sections 4 and 5) post a bond to be eligible for the issuance or renewal of a license; and
- Repeals the requirement that retail marijuana cultivation facilities file a state tax surety bond (section 6).
(Note: This summary applies to this bill as enacted.)