Regulators are prohibited from issuing licenses for any new medical cannabis dispensaries, processors, or commercial growers until 2026.
Region: OK
According to a new economic analysis, excise taxes from retail cannabis sales in Oklahoma could yield $434 million in new tax revenue over four years.
Voters will decide on State Question 820 on Tuesday, March 7, 2023.
Advocates in four more states – Arkansas, Nebraska, Oklahoma, and North Dakota – have recently submitted signatures to election officials to place legalization proposals on the 2022 ballot.
With nearly 300,00 patients registered with state officials to access medical cannabis products, Oklahoma has the highest number of marijuana patients per capita of any state.
The Governor acknowledged, “While there is much room for improvement in the way our state’s program operates, this bill does not address those items in a way I can support."
Oklahoma: Lawmakers Approve Measure Expanding Medical Cannabis Access, Reducing Possession Penalties
Operators will be able to engage in the home delivery of medical cannabis products to authorized patients.
Authors reported they “a five percent appreciation in home prices following the passage of RML (recreational marijuana laws) and an 11 percent appreciation once sales of marijuana products begin.”