TLRY - Recreational marijuana legalization is coming to Virginia

With 1 in 3 Americans now living in a state where adult pot use is legal, Virginia is no longer sitting on the sidelines. Over the weekend, local lawmakers narrowly approved compromise legislation that would make it the first state in the south to allow recreational marijuana. The bill now goes to Virginia Gov. Ralph Northam ((D)), who supports legalization, for his signature.Fine print: The law would legalize the use of cannabis by people over the age of 21. It would also allow possession of up to an ounce by anyone over 21 and establish an agency to oversee regulation of the cannabis market. The state is hoping that its commercial recreational marijuana program could generate nearly $1.5B in annual sales within five years of the scheduled start on Jan. 1, 2024.Specifics of the regulations were punted until next year, when they'll be decided by the legislature. Under discussion is

For further details see:

Recreational marijuana legalization is coming to Virginia