The Louisiana House Health and Welfare Committee Unanimously Passes House Bill 707 to Lay the Groundwork for Cannabis Legalization
The Louisiana House Health and Welfare Committee has taken a major step towards cannabis legalization by unanimously passing House Bill 707. This bill, which was prefiled in March, may not directly legalize adult-use cannabis, but it sets the wheels in motion for much-needed reform in the state.
Rep. Edmond Jordan Aims to Get HB-707 Passed in 2024, Followed by Two Other Bills in 2025
According to Rep. Edmond Jordan, the goal is to get HB-707 passed in the legislature in 2024, followed by introducing two other bills in 2025 that will address adult-use possession and cannabis taxes. This strategic approach shows a commitment to making progress towards legalization in Louisiana.
“This is a Very Simple Bill,” Says Jordan About HB-707
During a meeting on April 24, Rep. Edmond Jordan spoke to the House Health and Welfare Committee about HB-707. He described the bill as a simple one that sets up the retail side of adult-use cannabis, including dispensaries and regulations for purchasing.
Adults Over 21 Can Purchase One Ounce of Cannabis Per Day and Grow Up to Six Plants at Home
If HB-707 is passed, adults over the age of 21 will be able to purchase one ounce of cannabis per day. They will also have the option to obtain a permit for $75 per year to grow up to six plants at home, with a maximum of 12 plants. This allows for personal use and cultivation of cannabis.
Projected Tax Revenue of Over $1 Billion in the Next 10 Years
Rep. Edmond Jordan projects that if adult-use cannabis sales are legalized, it could generate over $1 billion in tax revenue over the next 10 years. This includes an estimated $100 million annually going into the state general fund, which could greatly benefit Louisiana’s economy.
Industry Could Be Valued at $900 Million by 2033
According to a report by Vicente law firm’s economic forecaster model, the adult-use cannabis industry in Louisiana could be valued at $900 million by 2033. This report also estimates that there are currently 430,000 adult-use cannabis consumers in the state.
17 Amendments Adopted, Including Transfer of Management to LDH and Removal of License Cap
During the meeting, a total of 17 amendments were adopted for HB-707. These include transferring management of a cannabis program from the Louisiana Department of Agriculture and Fisheries to the Louisiana Department of Health, and the removal of a cap on licenses that the LDF can issue to cultivators, processors, and manufacturers.
Report Utilizes Data from All 24 States with Legalized Adult-Use Cannabis
Marijuana Policy Project southeast legislative manager, Kevin Caldwell, presented a report during the meeting that utilized data from all 24 states with legalized adult-use cannabis. This report estimates that the industry could be valued at $5.8 billion between 2024-2033 and generate $13.4 billion in fiscal impact between 2027-2033.
Committee Discusses Projected Numbers, Effects of Crime, and Regulation of Potency
During the meeting, Rep. Rhonda Butler asked numerous questions about the report’s projected numbers, the effects of crime in legal states (which research shows has not increased), and the regulation of potency. These discussions show a thorough consideration of all aspects of cannabis legalization in Louisiana.
