There were many changes in February’s short legislative session, including some big ones. The new language came in four separate bills, each of which modifies existing Oregon pot law and becomes effective as soon as Governor Kate Brown signs it (which she may have done by the time you read this). I’ll do my best to summarize the key changes in this cozy space.
House Bill 4014. This bill abolishes the requirement that Oregon pot businesses be majority owned and controlled by Oregonians. That’s a big deal, because out-of-state money may come in like a wave. The idea here is that access to capital will help cash-starved startups more than it will hurt local bootstrappers. Note that HB 4014 is omnibus in scope: It also makes downward adjustments to some criminal penalties for cannabis shenanigans, slashes the cost of an Oregon Medical Marijuana Program (OMMP) card to just $20 for vets, and creates a pilot program to reduce weed smoking among the youth.
Learn the exciting truth about Senate Bill 1511, Senate Bill 1598, and House Bill 4094 after the jump!