Get the details on the New Jersey class 5 retailer license right here!
– Adults 21 and older could purchase an ounce of Marijuana or 5 grams of concentrated Cannabis
– After Act’s rules are issued, existing ATCs could immediately begin adult-use sales but only if having sufficient quantities to meet medical Cannabis demand
* Establishes 6 classes of licensed businesses: cultivator, manufacturer, wholesaler, distributor, retailer and delivery
* up to 37 marijuana grow licenses may be issued for first 2 years of legal sales (but limit does not apply to microlicenses with 10 or fewer employees)
* 7% state sales tax and municipalities could impose up to 2% hosting tax
* Excise tax on cultivators
* 70% of sales and excise tax revenue will support legal aid, health care and mentoring programs in minority communities disproportionately affected by the drug war
– All prior municipal “Marijuana operation prohibitions” are voided and municipalities have 180 days from enactment to bar adult-use operations or decide how many licensed businesses to permit
– Retail stores allowed statewide, but local jurisdictions could ban them
– Delivery services could operate statewide regardless of local bans
– Retailers could allow on-site consumption as long as they have local approval
– Cannabis Regulatory Commission
-grant licenses to growers, processors, wholesalers, laboratory testing facilities, distributors, delivery services and retailers determined by customer demand
– 25% of licenses would go to microbusinesses capped at 10 employees and include additional residency requirements.
– 15% of licenses reserved for minority-owned businesses
– 15% of licenses reserved for businesses owned by women or veterans.
– 35% of licenses in each license category would be “conditional” to make process more accessible to lower-income applicants.
– Application Scoring Priorities
* 25% of total licenses will be awarded to applicants employing 25% of individuals from “impact zones” negatively impacted by unemployment, poverty or past Marijuana enforcement activity
* residents of at least 5 years holding at least a 5% investment interest in an entity
– Labor Peace Agreements required except for microbusinesses.
-creates Office of Minority, Disabled Veterans and Women Cannabis Business Development promoting marginalized groups inclusion
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