Illinois Governor Bruce Rauner recently declared that marijuana licenses will be issued in 2016 throughout the entire state, bringing in yet another great move for the industry.
After first making it a point that no licenses could be issued until a legal review of the process initiated under Pat Quinn, Illinois’ Democratic frontrunner, state attorney general Lisa Madigan proposed that there were too many flaws in the system that was about to be initiated.
Now there will officially be 18 cultivation centers throughout the state, which should bring in upwards of 36 million dollars of revenue. Cultivation centers that are chosen for a permit will have 48 hours to accept the licenses. Final approval requires businesses to pay all related fees, register employees, and prove operators have enough money to build and run the facility.
“We wanted to go beyond the letter of the law. We didn’t want any sense of impropriety,” said Madigan
This is a huge step for Illinois, just as every state that has slowly but surely been able to bend and twist the arms of their local governments until the sticky green leaf is in hand. Illinois is also a vital part of the midwest and because of this, other midwestern states should promptly follow their lead, looking towards legalization and bringing it into a more widespread manner.
So far, there are no details on where the tax revenue will be going, but if this is anything like Colorado’s plan for New Age medicinal profits, it may be dedicated to education, whether in school systems or via harm reduction.
More information on the process is soon to come towards the end of 2016.